For the past few decades, tech stocks have almost always been the most popular stocks in the market. Considering the sort of returns some of the tech giants have generated over decades, it doesn’t come as a surprise.
To this day, tech stocks remain one of the sectors that almost all investors track closely. Not only are these volatile but the companies themselves have helped change the social makeup of our lives. On that note, here is a look at two tech stocks that made significant moves this week.
ParcelPal Technology (PTNYF) (PKG)
When you think about tech stocks, delivery stocks to buy don’t usually come to mind. Why would they, though? Most delivery stocks like UPS or FedEx generally focus on logistics and supply chain management where the “technology” aspect is in the background of the company. Needless to say, ParcelPal Technology is a delivery stock to watch and just so happens to be big in technology as well.
The opportunity that ParcelPal (PTNYF) (PKG) may be presenting now draws comparisons to the way early investors had an opportunity with companies like Uber (UBER) and GrubHub (GRUB) before they went mainstream in the US. GrubHub priced its initial public offering at $26 per share and now trades nearly 5x that price just as this market is beginning to heat up!
Overstock.com Inc (NASDAQ:OSTK) made a significant announcement, which sent the shares soaring. The tech stock jumped by as much as 25% this week so far. The update is related to tZERO, an Overstock subsidiary. It struck a deal with the makers of the movie Atari: Fistful of Quarters.
It has emerged that the blockchain company is going to ‘tokenize’ the movie in a highly innovative move. The crypto token is called Bushnell. As much as $40 million worth of those tokens will be sold by the company named Vision Tree.
On the flipside, those who own the token will also get a share of the proceeds from the movie. It seems that investors are excited about this move from the Overstock subsidiary. The market has responded favorably as Overstock stock price has continued higher this month.
Advanced Micro Devices (AMD)
The other tech company that has enjoyed an impressive rally this week is chip manufacturing giant Advanced Micro Devices, Inc. (NASDAQ:AMD). The company’s stock surged 7% this week after positive reviews came in. Its advanced personal computer chips have attracted attention for sure. It’s also important to point out that AMD stock has been one of the best performing tech stocks this year. AMD stock price has gained as much as 60% since the start of 2019.
The latest news about personal computer chips has acted as a catalyst. It would be worthwhile to keep an eye on the AMD stock over the coming days.
Acadia (ACAD) Stock Price is up 60% This Month; Bullish Signal For Biotechs?
One sector that has always been a favorite of investors of all varieties is the pharmaceutical sector and all investors like a turnaround story. Over the years, ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) had been one of the better-known strugglers in the industry. That was reflected in the stock price as well. But recent developments have breathed new life in the stock, which could be an indicator for the biotech industry at large.
Biotech Stocks To Watch: PharmaCyte Biotech (PMCB)
There has been no lack of attention on biotech penny stocks this year. At the beginning of August, one small biotech stock broke to highs of over $10 from a starting price below $2 a share after releasing news. PharmaCyte Biotech (PMCB) focuses on ways to effectively deliver treatments to patients with diseases ranging from cancer to diabetes.
The company’s proprietary cellulose-based live-cell encapsulation technology known as “Cell-in-a-Box®is the platform that the company uses to develop its therapy delivery methods. For most of the quarter, shares of PMCB stock have traded between $0.033 and $0.04 with volume recently surging.
On September 12, PharmaCyte saw more than 4 million shares trade; well above its daily average. Most of the attention surrounding the company has been on two things. First, its progress with Cell-In-A-Box and the application for Pancreatic cancer has continued to progress. The company brought on Dr. Manuel Hidalgo, has confirmed that he will be Principal Investigator (PI) for PharmaCyte’s planned clinical trial in locally advanced, inoperable pancreatic cancer (LAPC) now that he is at Weill Cornell Medical Center.
Second, the company has been ramping up for a much-anticipated shareholder update call on September 20. The call will cover PharmaCyte’s preparations for submission of its Investigational New Drug application (IND) to the U.S. Food and Drug Administration (FDA) to treat locally advanced, inoperable pancreatic cancer and developments related to PharmaCyte’s product pipeline on which PharmaCyte has been working and that have not yet been reported in a press release.
Acadia (ACAD) Stock Price: Important Developments
People who had held on to the stock through the barren years got a nice boost recently. This came after Acadia’s well-known medicine Nuplazid recorded better than expected sales. In addition to that, there were encouraging results from a dementia-driven psychosis study. Hence, it is important to figure out whether it is perhaps time to buy the stock.
While the signs are no doubt encouraging, it is important to note that data reveals that around 60,000 people in the United States are diagnosed with Parkinson’s every year. Out of those, a large proportion (50% to 80%) suffers from dementia. Hence it can be argued that the market is simply not too big for Acadia’s Nuplazid.
Moreover, different types of dementia are brought on by Alzheimer’s disease, which is why all of it might not actually fall into Acadia’s lap. That being said, it is also well known that antipsychotic drugs have only been approved for the treatment of Parkinson’s and hence the Alzheimer’s market is already out of the question.
Projections suggest that the sale of Nuplazid could grow to more than $1 billion in 2023 from $224 million in 2018. While that is encouraging, it is also important to note that the growth has been priced into the Acadia stock price.
However, if Acadia’s plans for growth somehow run into any trouble, then there is every chance of the stock price plummeting once again. The company is recovering and there is some time before the patient population for Nuplazid can be expanded sufficiently. In the meantime, investors need to be a bit more patient.
Shares of ACAD are up over 60% over the past week and made a new multi-year high of $43.98.
Advanced Micro Devices (AMD) Stock Price Consolidates After the Recent Rally: What Next?
It sometimes so happens that the price action and activity around a stock reaches a decisive stage, from which it can go only one way or another. In other words, it is the moment when the future of a stock is a straight shootout between the bulls and the bears.
The Advanced Micro Devices, Inc. (NASDAQ:AMD) stock has now reached such a stage according to keen observers and hence the stock is now trading within a very narrow range as the squeeze continues. In such a situation, it is only natural for investors to wonder which way this whole thing is going to go in the short term.
First and foremost, it is important to point out that since Lisa Su took over as the Chief Executive Officer in 2014, AMD has managed to stage a remarkable turnaround. Although the process has been slow, it proved to be highly lucrative for those investors who were patient. The stock has risen steadily over the past three years and rallied from $2 to around $30.
However, at the time, the investors had backed the company’s turnaround but now the story has changed and the turnaround has concluded. The bulls seem to think that the run is going to continue while bears believe that with the conclusion of the turnaround, the stock is all set to fall.
After all, if there is no further upside, then there is no point in holding the stock. This has caused uncertainty in the stock and its price action. Analysts believe that while the turnaround story had resulted in enormous gains for many investors, the stock is now expected to mirror the performance of the broader market. This factor lays credence to the bears’ position and moreover, the small matter of a looming Presidential election needs to be considered as well. Markets are generally flat in the lead-up and hence, analysts believe that although AMD might continue to be range-bound, it is unlikely that it is going to go on a rally.
Stock Price Newsletter – September 18, 2019
4 Penny Stocks Catching Attention This Week
Several economic and sector events have sparked interest in a number of small-cap and micro-cap stocks this week.
Airline Stocks In Focus; Spur Interest In Detection Tech Companies?
The latest mix of attacks and focus on airlines could have a different impact on sectors like weapons detection & defense. What could this mean for stocks to watch this week?
Top Biotech Stocks To Watch This Week
The values of biotech equities, however, do generally start to pick up as the year winds down. The underlying reason is that the latter part of the year is chock-full of key data readouts, regulatory decisions, and thousands of scientific conferences across the globe.
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