Hot Stocks: FTCI and WYNN both gain, ADBE falls on acquisition news, RYTM drops more than 10%
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FTC Solar, Inc. (NASDAQ:FTCI) and Wynn Resorts, Limited (NASDAQ:WYNN) both tracked higher on Thursday morning. FTCI moved higher after it was selected to produce its solar technology for numerous projects across the United States. WYNN also gained ground after being upgraded by Credit Suisse.
Shares of Adobe (NASDAQ:ADBE) drifted lower after it announced that it was near a merger deal with Figma. Also in the red are shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) as it has dropped more than 10%.
Gainers
FTC Solar, Inc. (FTCI) picked up 1.5% in premarket trading after the company was selected by Primoris Renewable Energy to supply at least 500 megawatts of its solar tracker technology for multiple project sites in the U.S.
Wynn Resorts, Limited (WYNN) jumped up by 3% during Thursdayâs early market trading after Credit Suisse reinstated it as an outperform. Credit Suisse analyst Benjamin Chaiken said Wynn Resorts is âone of the more compelling stories in gaming.â
Decliners
Shares of Adobe (ADBE) slide 7.7% on Thursday morning after the firm announced that it is near a deal to buy online design collaboration company Figma. The acquisition is reportedly worth more than $15 billion and could be announced as soon as Thursday.
Rhythm Pharmaceuticals, Inc. (RYTM) plunged by 12.3% after the company priced its public offering of 4.8M shares of its common stock at a public offering price of $26.00/share.
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