Solventum (SOLV) is the stock to watch after a recent rally broke its downtrend. On July 5, the firm reportedly wanted to buy MediWound (MDWD) for $34 a share.
MDWD stock closed at $20.33, which suggests that the market is not convinced a deal would close.
SOLV stock is not an attractive buy at this time. Shorts hold a 3% short interest against the stock.
ASML Holding (ASML) lost nearly 13% after posting Q2 results. Revenue fell by 10.1% Y/Y to EUR 6.2 billion. In Q3, the firm expects to post a gross margin between 50% to 51%. It did not change its outlook for the year. Still, the firm describes 2024 as a transition year. It is investing heavily to increase its capacity and technology. Demand for AI-related solutions is driving the industry’s recovery and growth.
Watch energy firm Vistra (VST), which rose from $30 to $76.20 for a 191% return in one year. The stock needs to hold the pre-rally price of $75. If that breaks down, the stock’s next support price is $50 - $60.
Applied Materials (AMAT) fell by 10.48%. Speculators believe that markets are rotating out of big names and into small caps (IWM). Ironically, small-cap stocks have a higher risk than firms like Applied.
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