Double Digit NASDAQ Stock Winners: DBGI, PIRS, SNRC
8:00 am Friday, June 25th, 2021
Following are major stock gainers on Nasdaq in Thursday ‘s trading session:
Digital Brands Group, Inc. (NASDAQ:DBGI) was the active stock gainer on Thursday . The stock soared 31% to close $5.36 after the company announced that they are expanding their already expansive e-commerce ecosystem by launching a select group of brands on Amazon this Fall.
As the pandemic shifted more shopping online, Amazon overtook Walmart as the top apparel seller, according to a Wells Fargo report in March. Wells Fargo estimates Amazon’s apparel and footwear sales in the U.S. grew by roughly 15% in 2020 to more than $41 billion, which is 20% to 25% above rival Walmart.
Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) was another notable winner as the stock went up 23% to end the session at $4.37.The company announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to cinrebafusp alfa (PRS-343), a 4-1BB/HER2 bispecific, for the treatment of HER2-high and HER2-low expressing gastric cancers.
FDA grants orphan drug designation to promote the development of a drug that targets a condition affecting 200,000 or fewer U.S. patients annually.
Synchronoss Technologies, Inc. (NASDAQ:SNRC) surged 20% to $2.91. The company announced that the Company intends to offer and sell, subject to market and other conditions, $120 million aggregate principal amount of senior notes due 2026 in an underwritten public offering. Synchronoss also expects to grant the underwriters a 30-day option to purchase an additional $5 million aggregate principal amount of senior notes in connection with the offering. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
