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Drug Company Files for Chapter 11

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Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! It's Monday and you know what that means. Our Lead Technical Tactician Nate Bear is giving you his weekly stocks to watch. This week he's got 3 names he's watching, with two potential long plays and one short play. You won't want to miss this. Click the image below to see this week's picks.

 
 

P.S.: Click here to subscribe to Nate's YouTube channel for more technical analysis.

While you're sipping coffee you'll see stock futures were mixed on Monday. Wall Street is coming off its worst week of 2023 so far and investors are waiting on an upcoming inflation reading. Companies reporting earnings this week include Airbnb, Coca-Cola and DraftKings.

If you want to see how we're playing earnings this week, we invite you to trade along with us in The War Room. We have an 82% win rate in 2023 and right now we're guaranteeing members receive 252 winning trades in their first 12 months.

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Here's a look at the top-moving stocks this morning.

Sorrento Therapeutics (Nasdaq: SRNE)

Sorrento Therapeutics is down 24.36% premarket after the company filed for Chapter 11 bankruptcy protection. The company was working on a COVID-19 treatment, and one of its subsidiaries recently acquired the rights to the FDA-approved ELYXYB, a ready-to-use oral solution for the acute treatment of migraine.

 

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Novavax, Inc. (Nasdaq: NVAX)

Novavax is up 3.54% premarket has agreed to buy 1.5 million more doses of Novavax Covid-19 vaccine, the company said, as part of efforts preparing for the end of government purchases and the start of a commercial market for the shots. The new vaccine could be the first step in developing annual Covid shots, which could follow a similar process to the one used to update flu vaccines every year.

Health stocks provide massive potential for gains if you know which one to pick. Our friend Alexnader Green has a track record for investing in companies at the right time, and right now he's high on one particular stock. This group has the patent on a device that could change the way we view our health as we know it. So much so that Green is calling it "the best investment opportunity I've seen in 37 years."

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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