I noticed 10x Genomics (TXG) is on the chart for the sixth time in the row. In September, they kept their “Buy” rating from B of A securities and they just purchased two different research companies (along with their patents). Volume is about 25% higher than average and while the price had been up and down on my daily charts, it has finally hit a steady stride upward. September 15th JP Morgan rated the stock “Overweight”, September 9th Morgan Stanley initiated them at “Overweight” as well.
While I don’t always believe any one company’s rating making or breaking an entry, I do take notice when a price is steadily rising along with a string of analysts rating the company well. Another noteworthy aspect is that 10x Genomics has made two recent acquisitions. As we’re seeing right now with AMD making a move to purchase Xilinx (XLNX) typically the company doing the acquiring will show a share price drop in the short term, but then it should rise to meet the new value of the larger company. TXG is certainly showing what a stock can do post acquisition and I’m eager to see how high it can go!
Want More Picks?
- Organigram levels up!After Organigram announces a new partnership, Dan takes a closer look at OGI and what that means for both companies going forward.
- OCGN: Experimenting with Covered CallsKyle shares his experiences trading covered calls in Ocugen, Inc. (OCGN) over the last two weeks. But will there be profits?
- 3 Bounce Back Stock Candidates Post Earnings DipWe look at three stocks that have to potential to bounce next week after their stocks fell post earnings.
- Semiconductors on the Rise?Dan identifies a hot sector by looking at 52 week highs over the past week. Check out which ones are riding high!
- TXG Continues Hitting New HighsDan Leeson Identifies TXG as another stock that continues to hit new highs thanks to recent acquisitions. How high can TXG go?
- Peloton Hitting New HighsShares of PTON hit new all time highs again
- Is AMD Ready to Run?We look at AMD and see a stock ready to breakout again
- Checkpoint Therapeutics: The Taste of SuccessDan Leeson buys into Checkpoint Therapeutics (CKPT) after the company sees increased volume and announces virtual conferences. *Updated 9/17/2020
- What’s going on with Purple Innovation?Large volume spike on 9/10 piques Kyle’s interest.