The market is abuzz today and focused on the latest Jobs numbers from August. Historically these have been aggressively adjusted after the initial reveal. Nonetheless, these have been a very large center of attention based on the potential results it could have for the future of a hawkish or dovish fed decision on interest rates. This being the case, investors are still searching for ways to hedge against potential volatility; not necessarily looking for safer havens but most likely looking into markets where interest rate exposure is lessened.
From a trader’s perspective, September 1 has brought a blitz of volatility and with it, opportunities for capitalizing. Trending stocks today include Warren Resources, Inc. (OTCMKTS:WRESQ), Xtera Communications Inc (NASDAQ:XCOM), Aquinox Pharmaceuticals Inc (NASDAQ:AQXP), and Progressive Care Inc (OTCMKTS:RXMD).
Warren Resources, Inc. (OTCMKTS:WRESQ) has seen a spike in price and volume this week. On Thursday the stock managed to see highs of $0.028 in early trading. Not much has been released by the company since bankruptcy talks earlier this year and the only news in the newsfeed that can be seen at this point are a slew of legal announcements from different law firms. The bottom line is that the stock has climbed significantly over the last few days and after hitting highs today, the mlti-day run has seen as much as a 536%.
Xtera Communications Inc (NASDAQ:XCOM) has seen an active day of its own on Thursday. Following a relatively sideways day, shares of XCOM have taken off during afternoon trading. Since the open, XCOM has increased by as much as 72%, following highs of $0.93 after lunch. The company announced an earnings miss a few weeks back but based on the trading on Thursday, the stock has recovered slightly. Within the last few weeks the stock has seen prices as high as $1.30. XCOM is a leading provider of high-capacity, cost-effective optical transport solutions, supporting the high growth in global demand for bandwidth. Xtera sells solutions to telecommunications service providers, content service providers, enterprises and government entities worldwide.
Aquinox Pharmaceuticals Inc (NASDAQ:AQXP) is another company missing on earnings this quarter but seemingly gaining traction in the market. The Vancouver, British Columbia-based company said it had a loss of 63 cents per share. However, in spite of this shortcoming, shares of AQXP have actually climbed up by more than 100% since late June. Thursday’s highs mark a total move of 128.8% since lows of $6.01 on June 27. The pharmaceutical space continues to show increased volatility and breakout anomalies this year and AQXP, who reported bad earnings but is up over 100% is an example of this anomaly.
In line with the pharmaceutical and healthcare space, Progressive Care Inc (OTCMKTS:RXMD) has been hitting volume scans this week after 3 major announcements had hit the wire. These include:
These have ignited a rally that has seen shares of RXMD run between $0.027 and highs of $0.034 today. “We are committed to being a pharmacy that can service patients nationwide,” stated S. Parikh Mars, CEO. “We have applications pending in other states and are continually filing for more in order to reach our goals.”