The NASDAQ ended yesterday’s session in bear market territory for first time since March 2020. S&P futures are down 0.1% in Tuesday morning trading, off worst levels.
Oil, gold and Bitcoin (BTC) are all down.
Five stocks trending today include:
Incannex Healthcare (NASDAQ: IXHL)
Clinical-stage cannabis company Incannex Healthcare (NASDAQ: IXHL) went public on the NASDAQ on Friday. The Australian pharma stock is already listed on the ASX. The NASDAQ listing gives the company access to a broader audience of investors with sophisticated understandings of medicinal cannabinoids, psychedelic therapies, and pharmaceutical development.
Incannex Healthcare ADR (IXHL) closed at $22.9 on Tuesday after shares jumped by 54% during Monday's session. And IXHL stock is up a further 118% in pre-market trading.
The company is developing unique medicinal cannabis pharmaceutical products and psychedelic medicine therapies for unmet medical needs.
Nektar Therapeutics (NASDAQ: NKTR)
Investors are discussing Biotech Nektar Therapeutics (NASDAQ: NKTR) on Tuesday after the company's stock fell by -60.87% during Monday's session to settle at $4.16. Over the past year, Nektar Therapeutics (NKTR) has traded between $3.99 and $23.50.
Unfortunately, it plummeted yesterday after the company and its partner Bristol Myers Squibb said early Monday that their cancer drug known as bempeg had failed in a trial in melanoma patients.
Over the past year, Nektar Therapeutics (NKTR) 's stock is down by -81.51%, while the S&P 500 is 5.14% over the same period of time.
Red Cat Holdings Inc (NASDAQ: RCAT)
Red Cat Holdings Inc (NASDAQ: RCAT) closed at $2.73 on Tuesday after shares jumped by 48.37% during Monday's session. RCAT stock is up a further 5.5% in pre-market trading.
Red Cat Holdings is investing in the future of drones. It provides drone products, technologies and services to the fastest growing market segments in its industry. And the reason for the RCAT share price jump yesterday was company news reported via a press release. Red Cat announced that its subsidiary Teal Drones had been selected by the Department of Defense's (DoD) Defense Innovation Unit (DIU) and US Army to compete in the Short Range Reconnaissance Tranche 2 Program of Record.
Year-to-date, the Red Cat Holdings Inc (RCAT) stock is up by 24.66%, while the S&P 500 is down -13% over the same period.
EQT Corporation (NYSE: EQT)
EQT Corporation (NYSE: EQT) is an American energy company engaged in hydrocarbon exploration and pipeline transport. With natural gas prices skyrocketing, this stock has become heavily traded.
Investors are discussing EQT Corporation (EQT) on Tuesday after the company's stock fell by -5.85% during Monday's session to settle at $25.42. This was due to oil prices slipping again yesterday.
Year-to-date, the EQT Corporation (EQT) stock is up by 16.5%, while the S&P 500 is -13% over the same time.
EPAM Systems Inc (NYSE: EPAM)
EPAM Systems Inc (NYSE: EPAM) is a $12.5bn American software company specializing in product development, digital platform engineering, and digital product design. Unfortunately for investors, it also has significant exposure to Russia and Ukraine.
EPAM Systems Inc (EPAM) is trending on Tuesday after the stock reached highs of $221.28 during Monday's session before closing at $220, up 9.9%. Over the past month, EPAM Systems Inc (EPAM) 's stock is down by -52.44%, while the S&P 500 is down -6.66% over the same period of time.
EPAM stock is seeing a fair bit of volatility in recent weeks. Several analysts have downgraded their share price targets on the stock, but those targets are still quite a bit higher than its current price. FactSet analyst consensus remains a Buy.
