On Thursday, Rallybio (RLYB), as its “rally” name implied, gained 82.82%. Speculators should not consider this healthy. RLYB is still a nano stock with high risks. The firm will need more than Johnson & Johnson’s (JNJ) $6.6 million equity investment as it spends on researching its rare fetal condition treatment.
Look for shares of Nikola (NKLA) to continue its freefall. The business does not have much hope of cracking the battery electric vehicle “2.0” truck market. Yesterday, NKLA was the most actively traded stock, falling by 26.73%.
Ginkgo Bioworks (DNA), which fell by 6.25% yesterday, must not fall below the $1.00 level. The firm announced it would acquire platform assets from AgBiome. Ginkgo said the combination would create a rich resource for developing AI models for biological research and development. Ginkgo is not in any danger of bankruptcy just yet. It reported cash of $944.1 million in the Dec. 2023 quarter. Still, it has a net debt of $702.3 million.
In the AI chip sector, AMD seeks to reverse its severe downtrend. Shares peaked at over $200, just before its key rival, Nvidia (NVDA), announced a refresh to its AI server hardware. Citi analysts said that PC notebook shipments for AMD and Intel were well above expectations. Unfortunately, the PC market is not as big a profit driver as the AI server sector.
