Promising Small Cap Stocks To Keep An Eye On - February 07th

Today, three small-cap stocks have captured attention due to their recent performance and potential for growth. These stocks are ProShares UltraPro Short QQQ, AltC Acquisition, and Conduit Pharmaceuticals. Small-cap stocks refer to shares of companies with relatively small market capitalization, usually valued between $300 million and $2 billion. These companies, while often not as well established as larger firms, can offer significant growth opportunities, though they are typically regarded as riskier investments.

ProShares UltraPro Short QQQ (SQQQ)

ProShares UltraPro Short QQQ is an exchange-traded fund (ETF) that aims to achieve daily investment results corresponding to three times the inverse of the daily performance of the NASDAQ-100 Index. This index comprises 100 of the largest non-financial companies listed on the NASDAQ Stock Market.

Recently, SQQQ stock experienced an uptick of $1.13 during mid-day trading, reaching a price of $28.97. The trading volume was notably high, with 53,644,350 shares exchanged, nearly matching its average volume of 54,435,828 shares. The stock has seen a 12-month low of $27.23 and a high of $64.95. Its fifty-day and 200-day simple moving averages stand at $29.74 and $36.13, respectively.

AltC Acquisition (ALCC)

AltC Acquisition Corp. is a special purpose acquisition company (SPAC) that has not yet established significant business operations. Its goal is to merge, acquire, or restructure with one or more businesses to enhance its value. Previously, the company was known as Churchill Capital Corp VIII before rebranding to AltC Acquisition Corp.

During recent trading, shares of AltC Acquisition (NYSE: ALCC) fell by $2.74, closing at $47.76. The stock popularity surged, with a trading volume of 19,884,043 shares, significantly higher than its average of 723,393 shares. Over the past year, the stock reached a low of $10.27 and a high of $18.80. Currently, the fifty-day moving average price is noted at $26.47, and the 200-day average is at $17.30.

Conduit Pharmaceuticals (CDT)

Conduit Pharmaceuticals Inc. is a clinical-stage specialty biopharmaceutical firm focused on developing innovative pharmaceutical products to address unmet medical needs, particularly in areas like autoimmune diseases and idiopathic male infertility. Their development pipeline features AZD1656, which has successfully completed Phase I trials for multiple conditions, including type 2 diabetes and various autoimmune disorders. Additionally, AZD5904 is in the early stages of clinical trial development for treating idiopathic male infertility.

In recent trading, shares of Conduit Pharmaceuticals (NASDAQ: CDT) were up by $1.76, reaching $3.31. The stock saw a trading volume of 133,964,870 shares, overshadowing its typical volume of 6,473,650 shares. Over the past year, shares have fluctuated between a low of $1.45 and a high of $392.00, with fifty-day and 200-day moving averages recorded at $6.85 and $11.15, respectively.

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