Trucking company Old Dominion Freight Line Inc (NASDAQ: ODFL) has offered $1.5 billion to acquire Yellow Corp’s (NASDAQ: YELL) 169 terminals out of bankruptcy.
As we approach the tail-end of 2Q company earnings, the market turned back to focusing on more macro issues, and was immediately “rewarded” by lots of not-so-good news. In this week’s 5 Things, we’ll cover:
Gainers
Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) shares jumped 283.7% to $1.3007 after Harmony Biosciences entered into definitive agreement to acquire the company for total potential consideration of up to $200 million in cash.
Potential short squeeze plays gained steam in 2021, continued throughout 2022, and remain a new focus of traders looking for the next huge move.
High short interest and steep borrowing costs are among the common traits that could lead to a short squeeze.
Gainers
AGBA Group Holding Limited (NASDAQ: AGBA) shares surged 49.4% to $1.31 in pre-market trading after the company reported a 325% year-over-year growth in its second-quarter revenue.