The Dow has erased its premarket losses
The Dow Jones Industrial Average (DJI) has made its way into positive territory midday, though the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are still swimming in the red -- the latter sporting steep losses. Investors are still unpacking this morning's private payrolls and trade deficit data, while oil prices are falling after four straight sessions of gains.
Continue reading for more on today's market, including:
- Analyst sees attractive entry point for this energy stock.
- Checking in with AI stock amid Biden comments.
- Plus, options bulls blast BURU; IFRX soars on FDA buzz; and USAU plummets after share offering.
Nuburu Inc (NYSE:BURU) is soaring after the U.S. Department of Defense selected the company for a contract for high energy laser systems, and options bulls are chiming in. So far, 16,000 calls have crossed the tape in comparison to 3,456 puts, with overall options volume running at 65 times the typical daily volume already. The September 12.50 call is the most active, where new positions are being opened. Up 82.8% at $4.97, BURU is breaking back above its 40-day moving average.
Biotech stock InflaRX NV (NASDAQ:IFRX) is up 49% at $5.62 at last glance, after the U.S. Food & Drug Administration (FDA) authorized emergency use of its Covid-19 injection. Earlier hitting a nearly two-year high of $7.25, IFRX is up 79.6% year-to-date.
The shares of U.S. Gold Corp (NASDAQ:USAU) are down 15.8% at $5.95 at last check, after the company announced that a single institutional investor has agreed to buy 870,000 shares for $5 million in a direct offering. On the short sell restricted (SSR) list amid the volatility, USAU is still up 24.6% since the start of the year.