3 Potentially Profitable Stocks Today Amidst Mixed Market Sentiment

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Westwater Resources Inc [NASDAQ: WWR]

Westwater Resources, Inc. has applauded President Trump’s Executive Order that was signed on September 30, 2020, declaring that United States’ reliance of foreign countries for the supply of critical minerals is a threat to the national security. This has seen the stock rally pre-market since the directive favors the company’s projects in the long run, especially on graphite production.

Following this directive, the President has ordered the relevant departments to accelerate the issuance of permits and finance to companies involved in the mining and supply of the same within the US. These agencies include the Office of Science and Technology, the Secretary of Defense, Secretary of Energy and that of the Interior among others.

Graphite and vanadium are critical minerals used in the technology industry and are thus a cause of concern to the country were their supply to be curtailed of cut off by foreign suppliers hence the order.

Xtant Medical Inc [NYSE: XTNT]

Xtant continues to gain upside momentum days after taking a move to restructure debt. In a move to reduce its outstanding debt, the company stated that it had ended its previously announced debt restructuring transaction. The aim of this transaction was to help improve the company’s capital structure by reducing its total debt. This reduction will enable Xtant access to capital markets and regain the compliance standards of getting listed in the NYSE. The company will now be in a position to get investment to stir up its growth.

As part of the transaction, Xtant issued about 57.8 million shares of its common stock which they expected to raise about $40.8 million. This amount will represent part of the aggregate outstanding principal amount. There will also be another $21.1 million of outstanding of PIK interest.

Alteryx Inc [NYSE: AYX]

Alteryx is gaining quite strongly pre-market after releasing strong Q3 forecast. The company has announced that in the third quarter, it expects revenue ranging from $126 million to $128 million, an improvement from the earlier figures of $111 million to $115 million that they had issued on August 6, 2020.

Further, Alteryx has announced that Mark Anderson, who is currently a board member, is set to replace current CEO and co-founder Dean Stoecker with immediate effect. Stoecker will now be an executive chairman and the chairman of the company’s board. This further strengthens the company’s future prospects and could see it gain significantly in the short-term.

 

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