UUU, BXRX, KAR, BABA, MULN: Trending Stocks Today 25 Feb

By Kirsteen Mackay

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Friday's trending stocks include Universal Security Instruments, Inc, Baudax Bio Inc, KAR Auction Services Inc, Alibaba Group Holding Ltd, and Mullen Automotive Inc.

Trending Stocks

US equities were higher in Friday morning trading after finishing higher on Thursday, rebounding from a big selloff at the open. Stocks are still on track for weekly losses.

Oil down, gold down and Bitcoin (BTC) up.

Here are five of today's trending stocks:

Universal Security Instruments, Inc. (NYSEAMERICAN: UUU)

Investors are discussing the Universal Security Instruments, Inc. (NYSEAMERICAN: UUU) share price on Friday, as the company's stock rises by 33% during the early session. That's because Universal Security Instruments is merging with Infinite Reality, Inc, a new metaverse innovation and entertainment company. The merger is expected to accelerate Infinite Reality's growth in the metaverse and the creator economy.

Over the past year, Universal Security Instruments, Inc. (UUU) has traded between $2.27 and $9.55. Year-to-date, the Universal Security Instruments, Inc. (UUU) stock is down by -15.1%, while the S&P 500 is -10.59% over the same period of time.

Universal Security Instruments, Inc. designs and markets various safety products consisting primarily of smoke alarms, carbon monoxide alarms and related products. The company is now evaluating strategic alternatives to maximize the value of its safety and security device operating business.

Immediately following the merger's closing, the Infinite Reality shareholders will hold approximately 97% of USI's outstanding common stock. And the shareholders of USI prior to the merger will retain ownership of around 3% of USI's outstanding shares. 

Baudax Bio Inc (NASDAQ: BXRX)

Pharmaceutical stock Baudax Bio Inc (NASDAQ: BXRX) has plummeted 55% at the market open after announcing a share placing. The company is offering 3,508,772 shares of common stock with warrants at a combined offering price of $2.85 per share.

The warrants have an exercise price of $3.25 per share, are exercisable immediately, and will expire five years following the date of issuance. The Offering is expected to close on or about 1 March 2022, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the sole book-running manager for the Offering.

KAR Auction Services Inc (NYSE: KAR)

Investors are discussing KAR Auction Services Inc (NYSE: KAR) stock today as it soars 37%.

KAR Auction Services, Inc. engages in the provision of used car auction services and salvage auction services in North America and the United Kingdom.

The KAR share price is rising on the news Carvana Co agreed to acquire the assets related to the US physical auction business of Adesa Inc, a subsidiary of KAR Auction Services Inc, for $2.2bn in cash. The assets to be acquired are located in the United States and pertain to the operations and sites for Adesa Inc's vehicle auctioning. Subject to customary closing conditions, the deal is expected to close in the second quarter of 2022.

Alibaba Group Holding Ltd (NYSE: BABA)

Shares in Alibaba Group Holding Ltd (NYSE: BABA) have fallen 3.7% this morning. Yesterday the company reported its slowest quarterly sales growth since IPO. Revenue grew 10% in Q4 2021 to Rmb243bn ($38bn).

On 24 Feb '22, FactSet identified a potential negative impact on the company's price within the next 20 days based on the company's latest transcripts. The regulatory environment in China remains uncertain, while the Russian invasion in Ukraine is also likely to spook investors considering foreign stocks. BABA stock is down 12.6% year-to-date and 56% in the past year.

Mullen Automotive Inc (NASDAQ: MULN)

Mullen Automotive Inc (NASDAQ: MULN) stock is trending as it soars 17% at the open. The company has made solid progress since going public on 5 Nov 2021. 

On Thursday, Mullen announced a recently published feature by WardsAutoTM that highlights Mullen's vision for the future and interviews with the company's senior leadership.

David Michery, CEO and chairman of Mullen Automotive, commented:

"I am delighted and thankful that industry leaders like Wards are starting to take an interest in covering the great EV effort we're accomplishing here at Mullen…We had a great conversation with Christie, talking about the big plans we have for the FIVE EV crossover as well as our innovative hybrid retail model with our Mullen Lounge Points, direct and franchise sales and service model."

Mullen Automotive is an American electric car company headquartered in Brea, California, founded in 2014. Mullen owns other businesses, including Mullen Auto Sales, consisting of a chain of car dealerships in California and Arizona, the Company CarHub.

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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.

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

Kirsteen Mackay 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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