Stocks In News: COST, MARA, ADTX
4:14 pm Friday, July 08th, 2022
An iconic symbol of commerce and suburban America, warehouse retailer Costco (NASDAQ:COST) disclosed encouraging results for its June sales on Thursday afternoon. Overall, sales jumped up 20.4% against the year-ago period, seemingly contradicting the doom-and-gloom projections that the rising inflation rate engendered. In response, COST stock popped up around 1.6% in the early afternoon session. Costco posted $22.78 billion in net sales for June’s retail month, covering the five weeks ended July 3. In the year-ago timeline, the members-only big-box retailer rang up revenue of $18.92 billion.
Last night, a fresh update from Marathon Digital (NASDAQ:MARA) revealed that the company is hoarding a large quantity of Bitcoin (BTC-USD) and a lot of cash. In the report, Marathon also acknowledged that a severe storm recently affected its power-generating facility in Montana. Still, with MARA stock up about 20%, traders seem to be enthused. It’s no secret Bitcoin hasn’t been a huge winner so far in 2022. Far from its November 2021 peak of around $69,000, BTC slipped below the key $20,000 threshold not too long ago.
Aditxt (NASDAQ:ADTX) stock is soaring 74% to 28 cents in late morning trading on much heavier-than-usual volume. The rally of ADTX was sparked by positive preclinical data reported by the company today. Specifically, Aditxt stated that a toxicology study of its ADI-100 immunotherapeutic drug had yielded good results. According to the company, the study showed no indications that the drug causes premature death. There were also “no signs of local intolerance, no test item-related influence on clinical signs, body weight and body weight gains, food consumption, biochemistry or urinalysis.” Finally, the test yielded no “anti-nuclear antibodies, no macroscopic post-mortem findings, [and] no changes in histopathology.”
