Happy Friday and welcome back to Bullish Rippers! Days like today further solidify Elon Musk’s stark warning that we live in a simulation. After President Trump confirmed he tested positive for COVID-19 on Twitter around 1:00 a.m. today, safe havens and volatility surged as major indices declined.
However, a handful of stocks traded against the grain today. So join us as we try to take a break from the news and dive into what’s making moves today ⬇️
✈️ Airline companies are reassured by lawmakers in Washington that a new stimulus package will include billions in additional aid for their ailing industry. However, an impasse in negotiating that aide might prompt tens of thousands to be furloughed at companies like American and United. Amidst the bizarre trading sessions, shares of airlines such as $LUV, $UAL and $AAL all traded up north of 2% in stark contrast to the rest of the market. It’s one surefire sign that investors have not completely lost hope in the legislative process.
🧪 Biotech always finds a prominent space in our Rippers list. But one particular biotech has managed to resurface onto the list twice in recent memory: Denali Therapeutics. $DNLI has an extensive pipeline with more than a dozen drugs, mostly targeting neurodegenerative diseases. These diseases are really hard to crack and few quality drugs exist, so there is huge need, which is fueled in-part by the difficulty of this segment. Some indications in their portfolio include Parkinson’s, Dementia, ALS, Alzheimer’s, Multiple Sclerosis, and even COVID-19. They are likely years away from reaching critical trials, but that isn’t holding back investors. They are up nearly 5% today.
🔋 What do batteries, SPACs, and EVs have in common? If you guessed $RMG Acquisition Corp, you’d be correct! This blank-check company is in advanced talks to help Romeo Systems Inc. go public. Romeo Systems is a battery producer for electric vehicles, which is a red-hot segment of the market this year. As discussed in our last Rippers, lithium and battery companies are capitalizing on a global rush to EVs. Joining $RMG on the list today is Lithium Americas (featured last on Wednesday’s Rippers). $RMG is up 7% on the news, and $LAC is up 16%.
That’s a wrap on this week’s Rippers – phew 🥵 Congrats for making it through! We hope next week is not nearly as chaotic or tumultuous. In the meantime, take care and be well❣️See you on Monday!