Stocks In News: BHAT, WEBR, NVAX
1:52 pm Thursday, June 23rd, 2022
Blue Hat (NASDAQ:BHAT) stock is rocketing higher on Thursday after the company announced plans to shelve a public stock offering. Blue Hat was previously planning to sell shares and warrants of its stock in an effort to raise funds. However, the company is backing down from this plan. It also notes it hasn’t sold any securities as part of the proposed offering. It’s likely that the positive movement for BHAT stock today has to do with traders celebrating the decision. Without a public stock offering, shareholders in the stock aren’t going to see their stake in the entertainment company diluted.
Weber (NYSE:WEBR) stock is on the move Thursday as retail traders push for a short squeeze of the American grill company’s shares. It’s worth mentioning that this isn’t the first day of WEBR stock rallying alongside short squeeze hopes. We saw a similar movement in the company’s shares on Wednesday despite a lack of recent news. So why does it look like a short squeeze is taking place? To put it simply, shares of WEBR stock are highly shorted with short interest sitting at around 60%. Stocks with such high short interest are typically targets for squeezes.
Novavax (NASDAQ:NVAX) stock is gaining Thursday on news of a recommendation for the vaccine company’s Covid-19 shot. This new recommendation comes from a European Medicines Agency (EMA) committee. EMA is the drug regulator for the European Union (EU). The agency’s committee has recommended Novavax’s vaccine be administered to teens aged 12 to 17 years. It’s worth mentioning that this is an expansion of the vaccine’s current approval in Europe. The vaccine already has the green light for use in adults. Use in teens will be the same as adult use, with two shots given three weeks apart, according to Seeking Alpha.
