The markets are down this morning, indicating that investors are not confident of a return to pre-pandemic levels anytime soon. Labour numbers are still pointing to a generally sluggish economy. According to a report by JOLTS, hiring was slow in July despite an increase in job openings.
The report showed that job openings in July were still much lower when compared to a year ago. While there is an improvement when compared to March/April, they still point to a market that is still relatively depressed and does not correlate to the massive run-up in price that the stock markets have experienced recently. As such, there could still be a sizeable number of investors that believe the markets are overvalued.
The markets have also been dampened further by news that that the Oxford vaccine trials had been halted after complications. While this is just one of the many vaccines that are being tested, it points to the massive challenges that the world faces in the race to a vaccine.
This means that the world could have to wait longer before a credible vaccine candidate is found. By extension, this means that large segments of the economy could continue to suffer in the near-term. Despite the dampened outlook, there are stocks that are gaining quite strongly this morning. Some of the big performers this morning that are likely to outperform the markets in the day are as below.
Yield10 Bioscience Inc [NASDAQ: YTEN]
Yield10 Bioscience Inc is gaining strongly this morning and is currently up by over 90%. This follows the company’s announcement that its President and CEO Oliver Peoples will be presenting at the H.C Wainwright 22nd annual global investment conference that will take place between the 14th and 16th of September. The excitement around what new and exciting things he will talk about have created strong momentum that could last over the next few weeks.
CBL& Associates Properties Inc [NYSE: CBL]
This is another big winner this morning and is up by over 40%. This is purely a price action driven move and comes weeks after the company announced that it had entered into a debt restructuring agreement with its debt holders. Through the deal, the company aims to get rid of $1.4 billion in unsecured debt. Given the uncertainty currently prevalent in the economy, investors seem to be excited about the stock.
Jaguar Health Inc [NASDAQ: JAGX]
Jaguar Health Inc is up this morning and is up by over 30% pre-market. While there are no news around it this morning, the stock recently announced that it had started an initiative to develop a natural prescription medicine for treating mood disorders.