Start the conversation
Our list of new IPO* movers of the week include stocks across a variety of sectors, from pharmaceuticals and oil services to staffing solutions and pest control.
Novan Inc. (Nasdaq: NOVN) jumped 31.1% for the week on unusually high volume. Apparently investors are anticipating good news in the pharmaceutical company's upcoming conference call on Aug. 2. The stock performed fairly well after its September IPO, but then crashed from a high of 29.06 in early December to $4.06 at the end of January. Shares closed the week at $5.29, still well below the IPO price of $11.
Gemphire Therapeutics Inc. (Nasdaq: GEMP) led our winners list two weeks ago with a 25% gain, and last week added 18.1%. The stock closed the week up just over 100% since the end of May, and as of Monday is up 161.5% in 2017. Zacks Investment Research upgraded the pharmaceutical company from a "Hold" to a "Buy" on July 19, though shares have already passed Zacks' price target of $19. According to BNB Daily, GEMP has a consensus price target of $23.67. Shares closed the week at $20.61.
BREAKING: New Legislation Could Turn Tiny Pot Stocks into Millions. Click Here…
Arizona-based SenesTech Inc. (Nasdaq: SNES) continued its fall last week, adding a loss of 22.7% to the previous week's 18.4% drop. News for the pest control company has been mostly positive in recent weeks, making its bad fortune somewhat puzzling. Shares did inch higher early this week, so a rebound is possible. After hitting an all-time low of $2.62 on Tuesday, SNES shares closed the week at $3.23. That's less than half the December IPO price of $8.
P10 Industries Inc. (OTCMKTS: PIOE) dropped 20% for the week, closing at $0.42. P10 was our big winner for the week of June 19-23, with a whopping 140.9% gain. That came immediately after a disruption in price quoting for the tech company's common stock. Between the low price and low volume, this stock could be prone to extreme volatility.
*Stocks are listed on a U.S. exchange with an initial public offering in the last year. Data and analytics provided by FactSet.
Up Next: One gallon of this new "crystal fuel" could get you from New York to L.A. and back… seven times! Being hailed by many experts as energy's "Holy Grail," it's 1,693 times more powerful than the gasoline that runs your car. The mainstream investment media isn't even talking about it yet. Read more…
About the Author
Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.