US equities are lower in early Wednesday trading, extending yesterday's declines.
China's Shanghai lockdowns and a recent wave in UK infections are bringing COVID-19 concerns back to the fore. Plus, further sanctions on Russia are weighing on the markets.
Oil up, gold flat and Bitcoin (BTC) down.
Here are some of today’s trending stocks:
Gogoro (NASDAQ: GGR)
Taiwan-based Gogoro went public yesterday via SPAC Poema Global Holdings (NASDAQ: GGR). The electric scooter maker Gogoro listed on the NASDAQ stock exchange under the ticker GGR. It ended the session up over 10%. In pre-market trading today GGR stock has slipped back 7% as weakness foreshadows the broader equity markets.
Over the past year, Poema Global Holdings Corp (GGR) has traded between $9.59 and $17.59. It sits at around $13 today.
Dakota Gold Corp (NYSEAmerican: DC)
Dakota Gold Corp (NYSEAmerican: DC) began trading on the NYSE American stock exchange yesterday, moving from its home on the OTCQB. The DC share price climbed 36% during the session and is up a further 98% in after-hours trading.
Dakota Gold is a gold exploration and development company focused on revitalizing the Homestake District in Lead, South Dakota. The company owns high-caliber gold mineral properties covering more than 40,000 acres surrounding the historic Homestake Mine.
The Dakota Gold team is focused on making new gold discoveries and invoking opportunities that build on the legacy of this illustrious District and its 145 years of gold mining history.
The company’s management believe the new listing will provide shareholders with increased liquidity, wider awareness of the Dakota Gold opportunity and easier trading.
Gogo Inc (NASDAQ: GOGO)
Gogo Inc (NASDAQ: GOGO) makes in-flight broadband internet service and other connectivity services for business aircraft. GOGO shares are up 10% in pre-market trading and 42% year-to-date.
Gogo enjoyed a lucrative year in 2021. It reduced debt, boosted its margins, grew its paid subscribers, and forged 5G partnerships. The company enjoyed revenue of $335.7m last year, up over 24% Y/Y.
However, the company does appear as if it could be overbought. Its price-to-sales ratio is 7.3, which is considered high and more than double the industry average of 3.3.
Likewise, its enterprise value to EBITDA is 23.2, far exceeding the industry average of 2.3.
Tilray (NASDAQ: TLRY)
Tilray (NASDAQ: TLRY) stock is up more than 10% in pre-market trading to $7.82. The House of Representatives passing a key cannabis legislation bill recently boosted the Tilray stock price but as it gets set to face the senate investor sentiment has cooled.
TLRY stock fell 15% over the past five days but its Q3 2022 earnings are due for release and the positive turn in the TLRY share price indicates welcome news.
Tilray’s profitable quarter includes:
Net Income: $52.5m
Adjusted EBITDA: $10.1m
12th Consecutive Quarter of Positive Adjusted EBITDA
Net Revenue: $152m (up 23% Y/Y)
Gross Profit: $39.8m (up 31% Y/Y)
Medical Market Share Leader in Europe
#1 Leadership Position in Germany with Revenue Growth of Over 4,000%
Maintained #1 Leading Marketing Share in Canada
Mobiquity Technologies Inc (NASDAQ: MOBQ)
Mobiquity Technologies Inc (NASDAQ: MOBQ) stock is soaring over 65% on news of a partnership with A-Nation. Mobiquity is a leading provider of next generation programmatic advertising technology and A-Nation will use it to promote its cryptocurrency, NFTs and upcoming motion picture releases.
A-Nation wants to generate equity and transparency in the film industry. This will include offering NFTs directly linked to characters, cast, behind-the-scenes, a day on the set, and even the red carpet. This will all be available for purchase via A-Market.
Over the past year, Mobiquity Technologies Inc (MOBQ) has traded between $1.20 and $10.25. Today it trades around $2.69.
Year-to-date, the Mobiquity Technologies Inc (MOBQ) stock is down by -32.78% while the S&P 500 is down -5.66% over the same period of time.
