Stocks In News: ACMR, APDN, XELA
2:04 pm Monday, October 10th, 2022
ACM Research (NASDAQ:ACMR) stock is taking a beating on Monday after the U.S. placed restrictions on exports of certain chip technology. Specifically, the government is no longer allowing the export of semiconductors made with U.S. tech. At least, not unless the vendor goes through the effort to acquire an export licence. It also keeps U.S. workers from partnering with Chinese chip companies without explicit permission.
Applied DNA (NASDAQ:APDN) stock is rocketing higher on Monday after the company announced a massive order for its LinearDNA product. LinearDNA is an enzymatic manufacturing platform that produces DNA without risks of bacterial contamination and non-target DNA sequences. Today’s news includes the company’s largest single order for the product yet. Applied DNA doesn’t give an exact number for the order but notes it’s in the mid-six-digit range. The company also mentions that this is a repeat order from a global manufacturer of in vitro diagnostics.
Shares of Exela Technologies (NASDAQ:XELA) stock are up by more than 20% after the company announced that its European subsidiary, Exchange for Bills and Payment (XBP) Europe, will merge with special purpose acquisition company (SPAC) CF Acquisition Corp VII (NASDAQ:CFFE). CFFE is sponsored by Cantor Fitzgerald, a financial services firm with a focus on institutional clients. Upon the closing of the transaction in the first half of 2023, the combined company will be called XBP Europe Holdings. It will trade on the Nasdaq under the ticker symbol XBP. In addition, XBP will boast an enterprise value of $220 million.
