These 2 Nasdaq Stocks Are Poised to Make Big Moves Today
Tech and biotech stocks on the Nasdaq Stock Market have been taking a beating lately. Narrative-driven growth stocks have fallen out of favor since the start of last December due to the uncertainty created by sky-high inflation rates, the omicron variant, and the Federal Reserve's possible moves on the interest rate issue later this year. As a result, the impact of positive news on the share prices of pure-play growth stocks has been wildly unpredictable over the last few weeks. This head-scratching phenomenon has been especially pronounced among risky development biotech stocks.
Clinical-stage biotechs Cardiff Oncology (NASDAQ: CRDF) and Leap Therapeutics (NASDAQ: LPTX) are prime examples. After the closing bell yesterday, Cardiff and Leap both announced major updates for their lead anti-cancer assets. While both of these program updates were upbeat overall, this moody market saw fit to give Cardiff's share price a 25% haircut at its low point during extended trading Tuesday, while Leap's share price actually rose by as much as 17% in after-hours trading. Here are the key issues causing these two Nasdaq-listed cancer stocks to move in polar opposite directions.
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Source Fool.com
