Bull&Bear | Laser Photonics Soars on DefenseTech Deal While MINISO Falls on Downgrade

In the stock market, several notable movements were observed recently. Let's delve into the details of both the rising and falling stocks.

Starting with the gainers, Laser Photonics (LASE) saw a remarkable increase of 80.60%, marking a continuous rise over six days, culminating in a total surge of 243.69%. The surge in Laser Photonics' stock can be attributed to the company's announcement of securing a DefenseTech laser cleaning tool order from the Pearl Harbor Naval Shipyard and Intermediate Maintenance Facility.

Meanwhile, Uxin (UXIN) experienced a rise of 56.47%, sustaining gains for two consecutive days, with a two-day growth reaching 67.57%. Uxin's financial report revealed a significant year-over-year retail volume increase of 142% for Q2 2024, with an anticipated sequential growth of 40% in Q3. The company achieved EBITDA profitability and reported a reduction in losses, alongside a year-over-year increase in Q1 sales performance.

Poet Technologies (POET) climbed by 40.13% over three consecutive days, accumulating a three-day increase of 44.26%. The rise in Poet Technologies' stock price followed the launch of AI networking solutions developed in collaboration with Mitsubishi.

SolarBank (SUUN) advanced by 29.13%, with its stock gaining momentum due to the company's initiatives in developing solar projects in New York.

Amprius Technologies (AMPX) increased by 25.98%, marking a three-day uptrend with a total gain of 38.27%. The company's stock rose after announcing two contracts valued over $20 million for providing 40Ah high-performance batteries for lightweight electric vehicle applications.

On the other hand, a number of stocks experienced declines. Zhongjin Medical (ZJYL) dropped by 24.51%. The stock witnessed a pre-market correction exceeding 21% after a sudden spike in its tail session last Friday.

CARGO Therapeutics (CRGX) fell by 18.32%, marking a two-day downward trend with a total decrease of 22.08%. The decline followed the company's report of a GAAP earnings per share of -$1.02.

MINISO (MNSO) saw a decline of 16.34% over two days, resulting in a total drop of 17.35%. The stock's performance was impacted by a downgrade in its rating by Bank of America Merrill Lynch to underperform, from a previous rating of buy.

Assembly Biosciences (ASMB) decreased by 16.31%. Despite the decline, the company reported positive interim results for its clinical trial of the long-acting helicase-primase inhibitor candidate ABI-5366.

Finally, Wheels Up Experience (UP) experienced a drop of 13.98%, maintaining a two-day bearish trend with a total decrease of 17.48%. The downturn followed announcements regarding the departures of Todd Smith, the Chairman of Wealth Finance, and Laura Heltebran, the Chief Legal Officer.