The market carnage carries on.
And the latest victim is a crypto lender named Celsius.
It halted all withdrawals and transfers on Monday.
And the entire crypto market was its collateral damage.
Bitcoin dropped over 30% this past week. Ethereum fell even further.
In total, cryptos lost over $300 billion in value since last Friday.
The thing is, Celsius was never very transparent about its business.
So its shakeout was inevitable.
But it’s not the only company I want to warn you about today.
There are two other crypto platforms you should avoid.
If you keep your tokens on either of them, I recommend you get out ASAP.
(If you’d prefer to read a transcript, click here.)
Regards,
Editor, Strategic Fortunes
Morning Movers
From open till noon Eastern time.
Revlon Inc. (NYSE: REV) develops, manufactures and markets beauty and personal care products worldwide. The stock jumped 72% on the news that Reliance Industries, an Indian conglomerate, is considering a deal to buy out the recently bankrupt company.
Scholar Rock Holding Corp. (Nasdaq: SRRK) discovers and develops medicines for the treatment of serious diseases. It is up 40% after the company reported positive Phase 2 trial data for apitegromab, its drug candidate for spinal muscular atrophy.
Bluebird bio Inc. (Nasdaq: BLUE) researches, develops and commercializes transformative gene therapies for severe genetic diseases. The stock is up 30% as part of a broader rally in gene and cell therapy stocks.
AlloVir Inc. (Nasdaq: ALVR) researches and develops allogeneic T-cell therapies to prevent and treat devastating viral-associated diseases. It is another gene and cell therapy stock that is up 20% today thanks to good news out of several companies in the sector.
Rhythm Pharmaceuticals Inc. (Nasdaq: RYTM) develops and commercializes therapeutics for the treatment of rare genetic diseases of obesity. The stock climbed 18% after the company received an FDA approval on its supplemental new drug application for its chronic weight management drug, Imcivree.
Sana Biotechnology Inc. (Nasdaq: SANA) is a biotechnology company that focuses on utilizing engineered cells as medicines. It is up 16% after reporting positive data from a study in which engineered cells were transplanted into primates.
Akero Therapeutics Inc. (Nasdaq: AKRO) engages in the development of medicines designed to restore metabolic balance and improve overall health. The stock is up 16% for the second day after Pfizer invested $25 million in it for the development of its drug candidate for a chronic liver condition.
Sapiens International Corp. N.V. (Nasdaq: SPNS) provides software solutions for the insurance and financial services industries. It is up 16% today with no significant news to report.
ZipRecruiter Inc. (NYSE: ZIP) operates a hiring platform that connects job seekers and employers. The stock rose 15% after the company announced a $150 million increase to its earlier plans of a $100 million share buyback program.
Tango Therapeutics Inc. (Nasdaq: TNGX) discovers and develops drugs for the treatment of cancer. It is another biotech stock that is up 15% thanks to the positive developments out of several companies in the space.
