Dow Flat as Tesla Lifts Tech, Autos

Investors are brushing off Covid-19 concerns to kick off 2022

Digital Content Manager
Jan 3, 2022 at 11:47 AM
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The Dow Jones Industrial Average (DJI) is flat midday, as it cools off from this morning's burst higher. Both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are more comfortably in the black, with the auto and tech sectors enjoying tailwinds thanks to Tesla's (TSLA) strong delivery numbers. Reopening plays are also on the rise, as investors brush off flight cancellations, as well as temporary school and business closures amid rising omicron infections. 

Continue reading for more on today's market, including: 

  • What pushed this Dow stock to record highs.
  • ODP stock pops amid $305 million unit sale buzz.
  • Plus, options bulls eye GNPX; IMMX nabs record high on FDA news; and why APLT bottomed out.

MMC Stats 0103

Genprex Inc (NASDAQ:GNPX) is seeing an unusual amount of activity in its typically quiet options pits today. So far, 7,790 calls and 292 puts have exchanged hands, which is 110 times what is normally seen at this point. Most popular by far is the January 2022 2.50-strike call, where new positions are being opened. GNPX was last seen up 61.1% to trade at $2.11, after the Food and Drug Administration (FDA) granted drug candidate REQORSA the "fast track" designation. The shares are now trading at their highest level since November, though remain down 50.8% year-over-year.

One of the best performing stocks on the Nasdaq today is Immix Biopharma Inc (NASDAQ:IMMX). The pharma stock is up 120.2% at $7.84 at last check, after the FDA granted rare pediatric disease designation for its IMX-110 treatment for a rare type of cancer called rhabdomyosarcoma, which is prevalent among children and teenagers. The Wall Street newbie surged to a record high of $8.67 earlier, after going public last week with an initial public offering (IPO) of $5 per share.

Among the Nasdaq's worst performers is Applied Therapeutics Inc (NASDAQ:APLT). The biotech stock was last seen down 30.1% at $6.26, after the company decided to delay the submission of n  application for drug candidate AT-007, which treats a genetic metabolic disorder, following discussions with the FDA. While the security earlier hit an all-time low of $6, the 20-day moving average has been guiding the shares lower since October. In the last nine months, APLT has shed 64%.

APLT 20 Day

 

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