Bull&Bear | Bakkt Holdings Surges 162% Amid Acquisition Talks; Neurogene Plummets 43% as Trial Halt Spurs Concerns
2min read In the realm of bullish stocks, Bakkt Holdings (BKKT) witnessed an impressive surge of 162.46%. The significant increase in Bakkt's stock followed reports that a media group was engaging in acquisition talks with Bakkt Holdings, which operates a cryptocurrency trading platform. The discussions about this potential acquisition fueled investor optimism, driving the stock price up considerably.
Aclaris Therapeutics (ACRS) saw its stock rise by 53.17%. This upswing was propelled by a brokerage firm upgrading the stock rating to overweight, with a target price set at $13, following a deal with Biosion. The upgrade reflects optimism around Aclaris's pipeline that targets the atopic dermatitis and infection-related inflammation markets. Analysts are eyeing catalysts expected in clinical trials by 2025 as drivers of future growth.
Alpha Technology (ATGL) has climbed 38.00% and marked a three-day increase totaling 48.39%. The consistent rise in its stock price can be attributed to the announcement of a new incentive plan by Alpha Technology Group, which has bolstered investor confidence in the company’s future prospects.
FuelCell Energy (FCEL) experienced a 31.66% rise as it appeared among the top five hot stocks on Friday. Positive market sentiment towards clean energy technologies, spurred by Bloom Energy's robust quarterly earnings—where both revenue and profit exceeded market expectations—helped lift FuelCell Energy’s stock.
In the category of frequently traded stocks, Zhongchi Fafu (AZI) enjoyed a 29.07% rise, marking a three-day streak of gains totaling 19.35%. This comes amid a broader surge in Chinese stocks, led by Zhongchi Fafu, showcasing strong investor interest in the sector.
On the bearish side, Neurogene (NGNE) plummeted by 42.58%, continuing a downward trend over five days that reached 72.29% in losses. The sharp decline followed the company's halt of its high-dose gene therapy trial for Rett syndrome patients after a serious adverse event. Neurogene is now investigating potential side effects that prompted the cessation of the trial.
iLearningEngines (AILE) fell by 27.00%, marking a two-day decline of 31.99%. The decrease in stock price comes in the wake of the company reporting incidents related to cybersecurity concepts, a CFO transition, subpoenas from the SEC, and restatement of financials. iLearningEngines warned of a significant impact on its fourth-quarter operations and ongoing internal investigations, highlighted by the late submission of a 10-Q report.
Quantum Computing (QUBT) saw its stock drop by 22.90%, continuing a two-day slide totaling 45.68%. Quantum Computing Inc. reported a net income loss of $5.68 million for the third fiscal quarter of 2024, despite a year-over-year increase of 31.40% in other financial metrics.
Energy Recovery (ERII) declined by 21.81%, continuing a five-day loss run totaling 26.44%. The slump followed insider trading activities where shares worth $549,928 were sold, as documented in recent SEC filings.
Finally, Triller Group (ILLR) experienced a 20.20% decrease, marking a three-day loss of 27.44%. This decline was associated with the company's SEC filing to sell up to 34.74 million shares, facilitated by secondary sellers, which introduced uncertainty and downward pressure on the stock.