The stock market presents a dizzying array of opportunities every day, with countless stocks moving in response to a multitude of factors.
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Today, we delve into some of the most active players in the market: Virgin Galactic Holdings, Inc., Nikola Corporation, Hut 8 Mining Corp., TMC the metals company Inc., C4 Therapeutics, Inc., Inovio Pharmaceuticals, Inc., and Ideanomics, Inc. Here’s a snapshot of how they performed today.
Virgin Galactic Holdings, Inc. (NYSE: SPCE): Virgin Galactic Holdings, Inc., listed on the NYSE as SPCE, saw a respectable increase today. The stock price closed at $3.91, up $0.14, marking a 3.71% rise. The trading volume was 25.13M, slightly above the average volume of 20.75M. With a market cap of $1.14B, Virgin Galactic is definitely on investors’ radars.
Nikola Corporation (NASDAQ: NKLA): Trading on NASDAQ as NKLA, Nikola Corporation enjoyed a positive day with its share price rising $0.06 to close at $1.43, an increase of 4.38%. The trading volume of 40.51M surpassed its average volume of 50.15M. Nikola Corporation’s market cap currently stands at $1.04B.
Hut 8 Mining Corp. (NASDAQ: HUT): Hut 8 Mining Corp., traded under the symbol HUT on NASDAQ, witnessed a stock price increase of $0.14, closing at $3.66, a rise of 3.98%. The trading volume hit 18.35M, compared to an average of 10.15M. The company has a market cap of $809.86M.
TMC the metals company Inc. (NASDAQ: TMC): NASDAQ-listed TMC the metals company Inc., symbol TMC, made a significant leap today with a gain of $0.44, closing at $2.395, a 22.82% surge. With a trading volume of 17.19M versus an average of 1.96M, there was a notable uptick in trading activity. TMC’s market cap sits at approximately $672.13M.
C4 Therapeutics, Inc. (NASDAQ: CCCC): C4 Therapeutics, Inc., trading on NASDAQ under the CCCC ticker, rose by $0.49 to a closing price of $3.32, reflecting a 17.31% gain. Trading volume reached 29.38M, significantly higher than the average 1.14M, and the firm’s market cap is at $162.89M.
Inovio Pharmaceuticals, Inc. (NASDAQ: INO): Inovio Pharmaceuticals, Inc., trading as INO on NASDAQ, closed at $0.53, marking an impressive 21.34% increase, with a price gain of $0.09. The trading volume stood at 35.15M compared to an average volume of 10.00M. Inovio has a market cap of $139.25M.
Ideanomics, Inc. (NASDAQ: IDEX): Finally, Ideanomics, Inc., traded on NASDAQ as IDEX, saw its stock price rise by $0.01 to close at $0.0913, a 7.41% increase. The trading volume of 58.81M substantially exceeded its average of 107.51M. The market cap for Ideanomics currently stands at $73.77M.
Despite the near-term risks, the travel and leisure sector seems to have the most upside potential. Airlines last year raised ticket prices because fuel costs were up. Well, this year, fuel costs are down 50%, but ticket prices are up 20%. We think that sector is going to make more than double the earnings they did last year. So even though they’re up 25% year to date, we still think there is an upside.