Stock Picks: WYNN and FTCI Both Rise, but ADBE Declines Due to Acquisition News and RYTM Falls More Than 10%
On Thursday morning, shares of Wynn Resorts, Limited (NASDAQ:WYNN) and FTC Solar, Inc. (NASDAQ:FTCI), respectively, tracked higher. FTCIs stock price increased after being chosen to supply its solar technology for various projects around the US. WYNN also grew as a result of Credit Suisses upgrade. In resuming coverage of stock picks with a Buy-equivalent rating, Credit Suisse analyst Benjamin Chaiken stated that Wynn Resorts is one of the more fascinating tales in gaming.
According to Chaiken, his favorable assessment is driven by encouraging developments in Las Vegas, a possible rebound in Macau, and a competitive price. After Adobe (NASDAQ:ADBE) stated that a merger agreement with Figma was imminent, its stock price gradually declined. Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM), which have fallen more than 10%, are also in the red.
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Stock Picks: Gainers
FTC Solar, Inc. (NASDAQ:FTCI) gained 1.5% in premarket trade after being chosen by Primoris Renewable Energy to provide at least 500 megawatts of its solar tracker technology for numerous project locations in the U.S. FTC Solar, Inc. (NASDAQ:FTCI) gained 1.5% in premarket trade.
Following Credit Suisses decision to reinstall it as an outperformer, Wynn Resorts, Limited (NASDAQ:WYNN) experienced a 3% increase during Thursdays early market trade. Benjamin Chaiken, an analyst with Credit Suisse, referred to Wynn Resorts as one of the more compelling stories in gaming.
Stock Picks: Decliners
Following the companys announcement that it is close to a deal to acquire online design collaboration company Figma, shares of Adobe (NASDAQ:ADBE) fell 7.7% on Thursday morning. It might be disclosed as soon as Thursday and is said to be worth more than $15 billion. After pricing 4.8 million shares of its common stock at a public offering price of $26.00 per share, Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) had a 12.3% decline in price.
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Author: Jowi Kwasu
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