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Oblong ($OBLG), soaring nearly 64% after the company authorized a stock buyback program. With only 10K in average daily volume historically, the surge to nearly 20 million shares traded underscores the sheer scale of speculative interest this announcement unleashed. Buybacks tend to send a strong signal to the market, suggesting management believes the stock is undervalued — and traders clearly bought into the narrative.
One of the most talked-about moves came from NovaGold ($NG), which spiked nearly 40% following news that it’s acquiring Barrick Gold’s 50% stake in the Donlin Gold project — a massive Alaskan mining development — for up to $1.1 billion. The deal, backed by billionaire John Paulson, drastically changes NovaGold’s strategic positioning and long-term value proposition. Investors are betting this high-stakes acquisition could supercharge NG’s growth prospects if Donlin proves fruitful.
Also seeing solid upside was 908 Devices ($MASS), climbing nearly 18% after it received a $2 million order from the Texas Department of Public Safety. While the order itself isn’t groundbreaking in size, the deal serves as a confidence boost in the company’s value to government clients, especially as MASS looks to grow its footprint in the forensic and law enforcement sectors.
Bicycle Therapeutics ($BCYC) gained over 16%, as investor sentiment appeared to shift in favor of the biotech name, despite the lack of fresh catalysts. Some analysts suggest that BCYC’s previous selloff may have been overdone, and today’s bounce could mark a revaluation in progress. Bargain-hunting and short-covering may both be at play here.
Another name that drew headlines was Equifax ($EFX), which jumped nearly 14% after delivering a trifecta of good news: an earnings beat, a $3 billion share repurchase authorization, and a 28% dividend hike. The financials beat expectations across the board, and while management did caution about macro uncertainty, traders zeroed in on the shareholder-friendly moves as a bullish signal for the stock’s near-term trajectory.
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Please note that the content above should not be considered as investment advice or marketing. It does not take into account the personal data and requirements of any individual. This content is not a substitute for the reader's own judgment and should not be considered as advice or a recommendation for buying or selling any securities or financial products.
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