It feels like the market is hung over here on Monday morning as the indices struggle with breadth approaching 2 to 1 negative. New highs are only around 135, but there are some pockets of speculative action, especially in crypto-related names.
The action is basically the inverse of what we have seen quite a bit lately, where the big-caps and indices cover up weak action in many speculative and small-caps. Today the best action is in the smaller names, while the indices look lethargic at best.
My Stock of the Week is Butterfly Network (BFLY) , and it is off to a strong start on good earnings. Butterfly Network has an innovative hand-held device that does ultrasound and is making good progress.
A few other names of interest that I'm trading are Exela Technologies (XELA) , Preformant Financial (PFMT) , Aurinia Pharmaceuticals (AUPH) , SCWorx Corp. (WORX) , and gambling names such as Elys Game Technology (ELYS) , Esports Entertainment Group (GMBL) and Gan Ltd. (GAN) that are active on news that DraftKings (DKNG) plans to buy Golden Nugget Online Gaming (GNOG) .
While the indices look like they celebrated too much this weekend and are dealing with a Monday morning hangover, there are some interesting pockets of trading action.