Double Digit NASDAQ Stock Winners: SCR, ZY, SITM
8:01 am Friday, August 06th, 2021
Following are major stock gainers on Nasdaq in Thursday’s trading session:
Score Media and Gaming Inc. (NASDAQ:SCR) was the active stock gainer on Thursday and soared 80% to $32.64. Penn National Gaming, Inc. (Nasdaq: PENN) (“Penn National” or the “Company”) and Score Media and Gaming, Inc. (TSX: SCR; Nasdaq: SCR) (“theScore”) announced today that they have entered into a definitive agreement whereby Penn National will acquire theScore, a leading digital media and sports betting and technology company, for approximately US$2.0 billion in cash and stock.
Under the terms of the agreement, theScore shareholders will receive US$17.00 in cash and 0.2398 shares of Penn National common stock for each theScore share, which implies a total purchase consideration of US$34.00 per theScore share based on Penn National’s 5-day volume weighted average trading price as of July 30, 2021.
Zymergen Inc. (NASDAQ:ZY) was another notable winner as the stock went up 75% to end the session at $14.45 It has been a wild trip for investors who have hitched a ride with Zymergen since its IPO in the spring. During its short history as a publicly traded company, its stock has traded as low as $7.85 and as high as $52.
The company announced on Monday that it doesn’t expect to generate revenue in 2021 and only generate nominal revenue in 2022 due to “issues with its commercial product pipeline.” Investors then raced to exit their positions yesterday. Today, however, they are sprinting to get back in.
SiTime Corporation (NASDAQ:SITM) surged 31% to $185. SiTime Corporation (SITM) on Wednesday reported second-quarter net income of $2 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Santa Clara, California-based company said it had profit of 10 cents. Earnings, adjusted for stock option expense, were 46 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share. The company posted revenue of $44.5 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $40.1 million.
