NKLA, BVXV, ESOA, DRTS, DRI: Trending Stocks Today 24 March

By Duncan Ferris


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Thursday's trending stocks include the likes of Nikola Corp (NASDAQ: NKLA), Biondvax Pharmaceuticals Ltd (NASDAQ: BVXV) and Energy Services of America Corporation (NASDAQ: ESOA).

Trending Stocks

US markets opened marginally higher on Thursday amid optimism that the US and its allies could coordinate the release of further oil onto the market, curtailing the spiralling increase of gas prices.

Oil prices are lower but gold and Bitcoin are both in the green on Thursday morning.

Here are some of today’s trending stocks:

Nikola Corp (NASDAQ: NKLA)

This electric vehicle manufacturer has its shares in the green after it confirmed late on Wednesday that production of its new electric truck. The Tre semi-trucks are being made at the company’s facility in Coolidge, Arizona, where production started on Monday. 

These trucks have a modest range of around 350 miles and the company said it is on course to deliver between 300 and 500 of the trucks this year before ramping up production to a higher level in 2023. Additionally, the company will begin delivering longer range trucks in the near future.

Following the announcement, Nikola shares were up by more than 8% in early trading on Thursday.

Biondvax Pharmaceuticals Ltd (NASDAQ: BVXV)

This Israeli biopharmaceutical company has seen its shares leap by almost 40% in early trading on Thursday after it announced it had signed definitive agreements with the Max Planck Society and the University Medical Center Göttingen to enter into a strategic collaboration for the development of innovative nano-sized antibodies (NanoAbs). 

BiondVax will have an option for an exclusive worldwide license at pre-agreed commercial terms for further development and commercialization of each generated NanoAb. 

NanoAbs previously developed by the company’s new partners exhibit several competitive advantages over existing therapies including uniquely strong binding affinity, stability at high temperatures, and potential for more effective and convenient routes of administration. 

The group are now aiming to develop NanoAbs for conditions with large market size, such as psoriasis, asthma, macular degeneration, and psoriatic arthritis.

Energy Services of America Corporation (NASDAQ: ESOA)

Shares of this company are buoyant on Thursday after receiving approval to commence trading on the NASDAQ index.

The West Virginia-based outfit employs more than 700 people and provides services to customers in the natural gas, petroleum, water distribution, automotive, chemical, and power industries. 

ESOA President, Douglas Reynolds, commented:   

"We are very pleased that the company's stock has been approved to trade on Nasdaq. By uplisting our common stock, we expect shares will have a broader appeal and increased liquidity. This is the first of several initiatives the company is looking to undertake in 2022 to drive shareholder value."

Alpha Tau Medical Ltd (NASDAQ: DRTS)

This Israeli outfit has seen its share price rocket over the last couple of days and has risen once again by more than 40% on Thursday morning.

The company only went public on the NASDAQ through an SPAC merger with Healthcare Capital Corp on 8 March, so some volatility is to be expected as investors evaluate the business.

For its part, Alpha Tau Medical is dedicated to the commercialization of Alpha DaRT technology, which was developed in 2003 at Tel Aviv University, for the treatment of tumors.

Darden Restaurants (NYSE: DRI)

This restaurant chain operator, which has a portfolio that includes the Olive Garden brand, is in the news after releasing its third quarter earnings report. This set of earnings fell short of analysts’ expectations, but the stock is still just about in the green on Thursday morning.

Darden Restaurantsearnings per share came in at $1.93 for its most recent three-month period, well below the $2.10 that had been expected. Revenue also fell short of the mark, landing at $2.45bn against analyst expectations of $2.51bn.

The company noted that its operations had been hampered in January by the emergence of the omicron variant, with this leading to lower customer numbers, staffing issues and higher costs.

The company also lowered its earnings outlook for full year 2022, cautioning that its performance will be hampered by the rising costs of both food and labor.

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This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Duncan Ferris does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Duncan Ferris has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of ValueTheMarkets.com, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of ValueTheMarkets.com, has not been paid for the production of this piece by the company or companies mentioned above.

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