Lockdown measures to combat a Covid-19 resurgence in the Chinese city of Xian have affected chip-making facilities owned by Samsung Electronics Co Ltd (OTC: SSNLF),
Following the market opening Wednesday, the Dow traded up 0.30% to 36,508.19 while the NASDAQ rose 0.09% to 15,796.27. The S&P also rose, gaining 0.25% to 4,798.34.
Recent supply chain conditions set up the semiconductor sector for substantial revenue in 2022 with much of the growth coming from substantial restocking by customers, according to an analyst at Morgan Stanley.
Gainers
Aptevo Therapeutics Inc. (NASDAQ: APVO) shares jumped 162.8% to close at $17.03 after the company announced a clinical update for its Phase 1b Expansion trial evaluating APVO436 for acute myeloid leukemia (AML).
Keybanc lifted Reliance Steel & Aluminum Co. (NYSE: RS) price target from $165 to $175. Reliance Steel shares rose 1.4% to $166.24 in pre-market trading.
Gainers
Bakkt Holdings, Inc. (NASDAQ: BKKT) shares surged 66.1% to close at $42.52 on Friday on continued volatility after the company recently announced partnerships with Mastercard and Fiserv.
With much of the investment world focused on technology stocks Friday, Sean Udall, tech stock strategist and publisher of The Udall Report, was a guest on the PreMarket Prep Plus show.
Several technology stocks issues were covered during the segment, but this article will focus on two of Udall's long trading ideas.