Top Five Stock Market Gainers of 01/08/23: ADMP, AMSC, YELL, ABVC, TUP

WISCONSIN (CoinChapter.com) — Today’s US stock market has mixed trading as markets prepare for Friday’s Non-Farm Payrolls.

Today, Caterpillar and Merck announced earnings; both led the Dow higher. The financial markets are also preparing for Apple and Amazon on Thursday after the closing bell, which found some sellers in big-cap tech stocks.

Why These Stocks Rallied

Adamis Pharmaceuticals (NASDAQ: ADMP)

Adamis Pharmaceuticals (NASDAQ: ADMP) jumped on the news of a partnership with The Leiden University Medical Center Anesthesia and Pain Research Unit.

Adamis will receive an unrestricted research grant with money to help study opioid-induced respiratory depression. The goal of this partnership is to compare the effectiveness of 4mg of intranasal naloxone, which is comparable to Narcan, and 5mg of injectable ZIMHI in reversing fentanyl-induced respiratory depression.

AMSC American Superconductor (NASDAQ: AMSC)

Shares of American Superconductor Corp. (NASDAQ: AMSC) soared 62.70%, showing signs of meme-like activity.

Although there is no apparent news, the stock had a trading volume of 27.73 million, much higher than the 65-day average trading volume of just under 354,700 shares. American Semiconductor shares ended the session on Monday up 2.4%.

The value of the company’s stock has increased by 173.9% this year.

Yellow (NASDAQ: YELL)

There was no logic to the surge in Yellow (NASDAQ: YELL) stock today other than retail traders investing in something short-term and risky, which has led to a bull run.

Shares of American trucking company Yellow increased by more than 60% on Tuesday after doubling the previous session due to the Teamsters Union’s announcement that the company had suspended operations and declared bankruptcy.

BioPharma (NASDAQ: ABVC)

BioPharma (NASDAQ: ABVC) signed a term sheet to receive up to $20 million in licensing fees and 5-12% of net sales in royalties with prominent Chinese pharmaceutical company Xinnovation Therapeutics Co., Ltd.

The licensing is for ABV-1504 for Major Depressive Disorder and ABV-1505 for Attention-Deficit/Hyperactivity Disorder in mainland China.

In accordance with this agreement, Xinnovation Therapeutics Co., Ltd. will have the sole right to create, produce, sell, and distribute cutting-edge medications for MDD and ADHD in China. It will also pay for clinical trials and product registration expenses there.

Tupperware Brands (NYSE: TUP)

The price of Tupperware Brands Corp.’s (NYSE: TUP) shares increased 18% in premarket trading on Tuesday, adding to its 39% rise on Monday and July’s record gains of 434%.

Even though the company has warned that it may go out of business and has negotiated a waiver arrangement with some of its creditors, shares of the troubled manufacturer of recognizable food storage containers have experienced a stratospheric ascent.