Allakos Gains 14% After Tanking On Wednesday Tanks 9% On Tencent’s Decision To Reduce Stake In Company

Shares of Chinese e-commerce company (JD) are trading down 9 percent on Thursday after tech company Tencent Holdings announced that it would reduce its stake in and distribute $16.4 billion in JD stock as a dividend to shareholders.

Currently at $67.63, the stock has traded between $61.65 and $108.29 during the past 52 weeks.

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IOC, Adani Total JV top bids for city gas licences

Board sees ₹80,000-cr. investment

State-owned Indian Oil Corporation (IOC) and a joint venture of billionaire Gautam Adani’s gas arm and Total of France — Adani Total Gas Ltd. — have bid for the maximum number of licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round.

IOC bid for 53 out of 61 geographical areas or GAs that saw bids in the 11th city gas licensing round that closed on December 15, according to bid details made public by the sector regulator — Petroleum and Natural Gas Regulatory Board (PNGRB). Adani Total Gas Ltd. bid for 52 GAs.

Adani group had originally ventured into city gas business in a joint venture with IOC but it later tied up with France’s Total.

Adani and IOC did not put in any combined bid in the latest bidding round.

The PNGRB had last week stated that as much as ₹80,000 crore investment is envisaged in setting up city gas infrastructure in the 61 GAs. The 65 GAs are spread over 215 districts in 19 States and one Union territory.

Pinduoduo Shares Fall 5%

Shares of Chinese online grocery platform Pinduoduo Inc. (PDD) are down 5 percent on Thursday’s trading continuing the downward movement since the past few days. There has not been any company announcement to impact the stock.

Currently at $55.71, the stock has traded between $51.91 and $212.60 during the past 52 weeks.

Sunlight Financial Holdings Stock Gains Over 16%

Shares of Sunlight Financial Holdings Inc. (SUNL) are gaining over 16% on Thursday morning despite no company announcement to boost the stock.

SUNL is currently trading at $4.48, up $0.65 or 16.9713%, on the NYSE. The company started trading on the NYSE from July 12 as it finalized its earlier announced merger with a listed special purpose acquisition company. Since then, the stock has traded between $3.20 and $16.66.

Sunlight Financial Holdings Inc. operates a business-to-business-to-consumer, technology-enabled point-of-sale financing platform that serves residential solar and home improvement contractors in the United States.

Pasithea Therapeutics Spikes

Pasithea Therapeutics Corp. (KTTA) shares are soaring more than 35 percent on Thursday morning, continuing an uptrend. There were no corporate announcements on the day to impact the stock movement.

On Tuesday, the company had said it opened its second London clinic in Marylebone offering intravenous ketamine therapy to patients suffering from treatment-resistant mental health issues. The Company opened its first U.K. clinic in Knightsbridge in October 2021.

Currently, shares are trading at $1.99, up 35.17 percent from the previous close of $1.47 on a volume of 60,192,932. For the 52-week period, the shares have traded in a range of $1.39-$8.50 on average volume of 4,768,552.

You Don’t Need a Party to Make Shrimp Cocktail

Preparing this retro appetizer at home, and doing it perfectly, gives you the wherewithal to eat a lot of a really good thing.

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By Eric Kim

Omicron worries may impact PV supply: FADA

‘Third wave to impact two-wheelers’

Automobile dealers’ body FADA said passenger vehicle (PV) supplies may get affected further, if chip-making countries go under lockdown due to the spread of the Omicron variant.

FADA, however, noted on Thursday that it expects the semiconductor shortage situation to normalise by the second half of next year.

“We see year 2022 as a neutral year as the rise of Omicron has once again created fear globally,” Federation of Automobile Dealers Associations (FADA) President Vinkesh Gulati said.

“This may further impact the supply in passenger vehicles if chip-making countries go under lockdown or prioritise chip making for electronics used for work from home.”

FADA anticipates that the second half of 2022 may see supply as well as demand slowly coming back to normalcy, he added.

“Auto industry may fully recover only by 2023 and come back to its pre-COVID levels if COVID becomes a history,” Mr. Gulati said.

He, however, noted that the two-wheeler segment, which continues to face demand headwinds, may further go into a slump if a third wave occurs.

Allakos Gains 14% After Tanking On Wednesday

Allakos Inc. (ALLK) shares are trading more than 14 percent on Thursday morning trade on a strive to regain from a sharp fall on Wednesday after the company said its Enigma 2 and Kryptos studies failed to achieve statistical significance on the patient reported symptomatic co-primary endpoints. The company CEO Robert Alexander said the company is deeply disappointed that the studies did not achieve their symptomatic endpoints. The shares tanked from more than $80 to $8.55 yesterday.

Currently, shares are trading at $9.73, up 14 percent from the previous close of $8.55 on a volume of 17,010,079. For the 52-week period, the shares have traded in a range of $8.44-$157.98 on average volume of 1,280,122.