Downgraded Penny Stock Hits Record Low

NYNY will offer sports betting and onling gaming at a New York resort

Nov 14, 2018 at 2:55 PM
facebook X logo linkedin

It's a volatile day on Wall Street, with the Dow exploring a 466-point trading range on both sides of breakeven so far. Among individual stocks making big moves are racino operator Empire Resorts Inc (NASDAQ:NYNY), utility name PG&E Corporation (NYSE:PCG), and cancer immunotherapies specialist Jounce Therapeutics Inc (NASDAQ:JNCE). Here's a quick look at what's moving the shares of NYNY, PCG, and JNCE.

Empire Resorts Stock Tops Nasdaq on Sports Betting News

Empire Resorts stock is trading near the top of the Nasdaq -- up 31.3% at $11.20, on track for its best day since Sept. 17, 2014 -- on news the company has joined forces with an affiliate of bet365 to offer sports betting and online gaming at NYNY's Resorts World Catskills in New York. Plus, the new partner will buy up to $50 million in NYNY shares at $20 apiece. Despite today's gains, the stock remains down 58.5% year-to-date.

PCG Stock Hits 15-Year Low on Liability Warning

PG&E shares hit a 15-year low of $22.35 earlier, last seen down 25.9% at $24.23. Putting the stock on pace for its worst day in more than 16 years -- and worst month since 2001 -- are reports the company reported electrical issues to regulators ahead of the deadly Camp and Woolsey wildfires raging in California. The company also said liabilities could exceed its $1.4 billion in insurance coverage.

The embattled stock is now at risk for a round of negative analyst attention, considering half of the 14 brokerages in custody maintain a "hold" or "strong sell" rating. Plus, the average 12-month price target of $52 is a nearly 124% premium to PCG's current stock price.

Jounce Therapeutics Stock Remains Heavily Shorted

J.P. Morgan Securities downgraded Jounce Therapeutics stock to "underweight" from "neutral," citing disappointing preliminary data for the company's lead candidate, JTX-2011." Additionally, the analyst in coverage said "it will require compelling and material evidence that the company has found the correct path forward" to draw buyers to JNCE's table.

In reaction, JNCE shares are down 9.3% at $3.99, earlier bottoming a record low of $3.30, bringing their 2018 deficit to 68.6%. Short sellers have been cashing in their chips, too. Short interest fell 20.8% in the two most recent reporting periods to 2.68 million shares. This still represents a healthy 9.7% of the stock's available float, or 8.2 times the average daily pace of trading.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI