Bullish Stocks Trading Above 50Days Moving Average: $BGFV $AMTX $SRNE

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Big 5 Sporting Goods Reports strong Q2 2020 Despite COVID-19 Disruptions

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Big 5 Sporting Goods Corporation (NASDAQ:BGFV) stock is currently bullish and is trading 162.68% above its 50 Days simple moving average. The company has announced its Q2 2020 financial results and offers a business update on Q3 to date. Despite the closure of stores due to the pandemic, the company registered a strong quarter. Q2 2020 same-store sales dropped 4.2% compared to 0.7% in Q2 2019. In the first half of Q2 same-store sales had dropped 28.2% but with the reopening of stores in the second half of Q2 sales increased by 15%. Net sales in Q2 were $227.9 million.

The company carried the momentum witnessed in the second half of Q2 to the third quarter with the same-store sales jumping 31.9% in July. The company has a strong balance sheet with around $38 million in cash at the end of July.

Aemetis Enhancing Its Production Of Industrial And Personal Care Alcohol

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Aemetis Inc. (NASDAQ:AMTX) also looks bullish and currently the stock trades 118.08% above its 50 Days simple moving average. The company has taken steps to produce more food and pharma grade alcohol used in the manufacture of sanitizers while at the same time mad progress in advancing biofuel projects. Positioning itself for alcohol supply during the pandemic for sanitizer products the company has been operating its Keyes California ethanol plant.

On the other hand, Aemetis has been advancing renewable natural gas as well as cellulosic ethanol projects. Currently, the company is upgrading the facility to produce more industrial and personal care alcohol.

Sorrento Unveils COVID-19 Saliva Test Giving Results In 30 minutes

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Another stock that is equally bullish and trading 113.81% above its 50 Days simple moving average is Sorrento Therapeutics Inc. (NASDAQ:SRNE). The company and Columbia University have unveiled a rapid diagnostic COVID-19 saliva test which can offer results within 30 minutes. A team from Columbia University Irving Medical Centre developed the test and initial studies have been encouraging in sensitivity and specificity. Sorrento will own exclusive license of the product which will be manufactured at its cGMP facility in San Diego.

Recently Sorrento has also signed an LOI for the acquisition of SmartPharm Therapeutics. The transaction is expected to be finalized this month. Sorrento had previously collaborated with SmartPharma in R&D for encoding and expressing of its novel SARS-CoV-2 monoclonal antibodies using SmartPharm's Gene Mab plasmid nanoparticle platform.

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Disclaimer

COMTEX_369168252/2700/2020-08-10T09:42:22

Is there a problem with this press release? Contact the source provider Comtex at [email protected].