Fuel, pharma & metals: A triple shot of market heat 🔥🔥🔥

*together with Stock Market Media & Brownstone Research

Amid all the geopolitical chaos, guess what — it’s Fed day! Rates are almost certain to hold steady, but the markets will be paying close attention to the Fed’s outlook and forecast. Nevertheless, we still have some BIG movers today (read below…).

And don’t forget to join us in Market Masters today at 9AM EST & 3pm EST - the hottest (and FREE-EST) trading room around 🔥. Be the best prepared trader on the Street!

FOCUS LIST🔎

PTLE - Up over 125% in the pre-market as Chinese energy names show strength post Israel-Iran conflict 

SRRK - Up over 18% in pre after reporting positive Phase 2 EMBRAZE trial results demonstrating statistically significant preservation of lean mass with Apitegromab during Tirzepatide-induced weight loss

TMC - Up over 13% in pre after announcing strategic investment from Korea Zinc

HOTLIST🔥

PTLE - Up over 125% in the pre-market as Chinese energy names show strength post Israel-Iran conflict 

PTL Limited (PTLE) through its subsidiaries, provides marine fuel logistics services for vessel refueling in Hong Kong and internationally. The company offers vessel refueling services to container ships, bulk carriers, general cargo vessels, and chemical tankers. It also purchases and sells marine fuel, including low sulfur fuel oil, high sulfur fuel oil, and low sulfur marine gas oil directly to its customers.

Small cap energy names continue to show strength post the Iran-Israel conflict. This morning, Chinese names in particular are showing strength. Iran is a major oil supplier to China and any supply constraints there could prove positive for local Chinese suppliers.

Shares of PTLE are up 125% this morning and LSE another Chinese energy supplier is up over 80% in the pre-market.

The first target for bulls is the pre-market high at $0.6149. Beyond that there is a gap to fill at $0.73 with $0.80 and $1 in play above that.

Below $0.6149, targets to the downside are $0.50, $0.45, $0.40, $0.35, $0.30 and then $0.25. 

SRRK - Up over 18% in pre after reporting positive Phase 2 EMBRAZE trial results demonstrating statistically significant preservation of lean mass with Apitegromab during Tirzepatide-induced weight loss 

Scholar Rock (SRRK) is a late-stage biopharmaceutical company focused on developing and commercializing apitegromab for patients with spinal muscular atrophy (SMA) and additional severe and debilitating neuromuscular disease.

In the pre-market this morning, the company announced positive results from the Phase 2 EMBRAZE proof-of-concept trial assessing apitegromab in combination with tirzepatide to preserve lean mass during tirzepatide-induced weight loss. 

Highlights include:

• Patients receiving apitegromab with tirzepatide over 24 weeks showed a 54.9% preservation of lean mass (+4.2 lbs of lean mass) versus tirzepatide alone (p=0.001)

• Patients receiving apitegromab with tirzepatide over 24 weeks lost 18.8 lbs of fat mass while those on tirzepatide alone lost 17.7 lbs of fat mass

• Patients receiving apitegromab with tirzepatide over 24 weeks lost 12.3% of body weight while those on tirzepatide alone lost 13.4% of body weight

• Higher quality of weight loss observed for patients receiving apitegromab with tirzepatide (85% fat mass/15% lean mass) compared to tirzepatide alone (70% fat mass/30% lean mass)

• Apitegromab was generally well tolerated, and the encouraging safety profile was consistent with the safety profile observed in prior clinical studies

Shares of SRRK traded up over 18% in the pre-market in reaction to the news.

The $35 area acted as support in the pre-market and will be an important level to watch.

Above it, targets to the upside are $36.42, $37 and then the pre-market high at $38.43. Beyond that, $40, $42.50 and $46 come into play.

Below $35, targets to the downside are $31.50, $28.50, $26 and then $22.71.

TMC - Up over 13% in pre after announcing strategic investment from Korea Zinc

TMC the metals company Inc. (TMC) is a deep-sea minerals exploration company that focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in California. It primarily explores for nickel, cobalt, copper, and manganese products.

Yesterday the company announced that Korea Zinc, a world leader in non-ferrous metal refining and precursor Cathode Active Material (pCAM) technology, has agreed to make a strategic investment of approximately $85.2 million in the Company through the purchase of common shares and warrants in a private placement.

Korea Zinc Co., Ltd., (Korea Zinc) will make a strategic equity investment in TMC of $85.2 million in exchange for 19.6 million common shares at the last market closing price of $4.34 per share

Investment includes a three-year warrant to purchase 6.9 million common shares (0.35 warrant shares for every 1 initial common share) with an exercise price of $7.00 per share, and a participation right to subscribe for future offerings of TMC equity for Korea Zinc to maintain its ownership of common shares, subject to customary exceptions

Shares of TMC traded up over 13% in the pre-market in reaction to the investment.

The $5.84 area acted as support in the pre-market and will be an important level to watch.

Above it, targets to the upside are $6, $6.10 and then the pre-market high at $6.20. Beyond that is 52 week highs and round numbers such as $7, $7.50, $8, $9 and $10 come into play.

Below $5.84, targets to the downside are $5.60, a gap fill at $5.44, $5.30, $5 and $4.60 come into play.

MARKET NEWS 📰