Double Digit NASDAQ Stock Winners: RKLB, GEVO, IMPL
7:59 am Friday, September 10th, 2021
Following are major stock gainers on Nasdaq in Thursday’s trading session:
Rocket Lab USA, Inc. (NASDAQ:RKLB) was the active stock gainer on Thursday and soared 37% to $20.72. Revenue from the three missions launched in the first half of 2021 was $29.5 million, up 237% year over year. Backlog — which you can think of as future revenue because it represents contracts for space launches the company hasn’t yet conducted — grew 136% year over year to $141.4 million. (Rocket Lab has launched one mission in this year’s second half, in July).
And as the company gets bigger, economies of scale are starting to kick in. Gross profit margins flipped from negative 67% a year ago to positive 13% this year. Granted, Rocket Lab still isn’t earning profits according to generally accepted accounting principles (GAAP), but the company has now recovered two different Electron boosters, advancing the day when its rockets become reusable — and maybe even profitable.
Gevo, Inc. (NASDAQ:GEVO) stock surged 37% to $7.94. Gevo just found an investor in an oil and gas giant, and the market can’t seem to control its excitement.
Gevo is an early-stage renewable energy company that aims to produce low-carbon gasoline and jet fuel from feedstocks like corn.
Yesterday, it announced a collaboration with Chevron U.S.A, a subsidiary of oil giant Chevron (NYSE:CVX), to jointly invest in facilities that’ll produce sustainable aviation fuel from inedible corn, as well as protein and corn oil as byproducts. In exchange for its investments, Chevron will have the right to purchase 150 million gallons of fuel per year.
Impel NeuroPharma, Inc. (NASDAQ:IMPL) moved up 27% to $21.13. After three consecutive days of declines that saw its shares crater from nearly $34 per share to less than half that figure, Impel NeuroPharma (NASDAQ:IMPL) rocketed more than 27% higher on Thursday. With some recent good news about the company, investors were obviously pouncing on that weakened stock price. The sell-off in the previous days wasn’t necessary warranted, as recent developments for the company have generally been quite favorable. Chief among these was last Friday’s announcement that the Food and Drug Administration had approved the company’s lead candidate, migraine headache treatment Trudhesa.
