The markets are up this morning after a heavy sell-off yesterday. This is an indicator that traders feel that the market is entering oversold territory. Under current circumstances, stocks that have some growth potential could rally all through the day. Some are already showing positive price action in early morning trading, like the ones below.
Insignia Systems Inc [NASDAQ: ISIG]
Insignia Systems Inc. is up by over 50% in early morning trading. The company has recently been winning big through its initiatives of helping emerging businesses grow amid the COVID-19 pandemic.
COVID-19 has greatly affected emerging needs, bring most to their knees, but there are those that have survived through the turmoil and exceeded expectations one of them being Ka-Pop! After winning Insignia’s Pitch Slam competition, the Colorado-based company that makes puffs and chips from ancient or indigenous grains, the brainchild of Dustin and Christina Finkel won the grand prize of $100,000 worth of free mobile advertising and a guest spot on the Omni Talk Spotlight Series podcasts. It is through this initiative that Ka-Pop has made significant leaps despite the prevailing condition in the world.
Pennsylvania Real Estate Investment Trust [NYSE: PEI]
A leading international operator of retail and experiential destinations, PREIT is up after it signed an amendment to the Restructuring Support Agreement (RSA) that will see the company get more time through October 28, 2020, to repay its lenders in the debt restructuring formula as provided in the RSA agreement. PREIT Chairman and Chief Executive Officer said the company continues to work constructively with its lenders, with the extension allowing more time for further discussions.
He continued saying that they are glad about the progress they have so far made and hope to implement the RSA agreement out of court. In the agreement, PREIT hopes to secure more flexibility that will enable the company to meet its obligations and serve its clients better at the company’s properties.
Ranger Energy Services Inc [NYSE: RNGR]
Zacks Oil and Gas subsidiary Ranger Energy has been on an uptrend for the last few days. The company recently reported a Q3 quarterly loss of $0.38 per share as compared to the Zacks Consensus Estimate of $0.45 adjusted for non-recurring items. The reports indicate surprise earnings of 15.56%, better than a quarter ago. In the previous quarter, expectations were that the company would post a loss of $0.55 per share, but ended up posting a loss of $0.47, a 14.55% surprise. The shares have now lost about 61.7% from the beginning of this year. Its share price sustainability will depend largely on how the management handles the current financial report. As for the investors, there is no easy prediction when it comes to the performance of Ranger Energy stock. The current status holds Zack Consensus Estimate #3 showing that the shares could perform in line with the market movement going forward.
