Hot Stocks: APLS & SKIL both gain, TSLA declined despite upgrade, and VLTA plunged
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On a day that looks to open with a risk-off tone it hasnât stopped the performance of Apellis Pharmaceuticals (NASDAQ:APLS) and Skillsoft (NYSE:SKIL). APLS is on the move as the stock has shown promising results in a phase 3 study for a rare blood disorder. At the same time, SKIL has ticked up sightly as the company looks to sell its SumTotal business for $200M.
Dipping into the red at the start of the day are Tesla (NASDAQ:TSLA) despite the stock being upgraded to an Outperform rating and Volta (NYSE:VLTA), as it's lower with a management shift is underway.
Gainers
Apellis Pharmaceuticals (APLS) trended into the green to start the trading week, higher by 2.3%. The Global pharmaceutical organization has caught a bid early on as phase 3 studies of Empaveli/Aspaveli (pegcetacoplan) for paroxysmal nocturnal hemoglobinuria showed benefits in rare blood disorders for patients.
Skillsoft (SKIL) gained 0.6% on Monday morning as the learning solution company is set to sell its SumTotal business, a provider of learning and human capital management software for highly regulated industries, to Cornerstone OnDemand for approximately $200M cash.
Decliners
Elon Muskâs Tesla (TSLA) drifted lower by 4.1% in early Monday trading despite the fact that RBC Capital Markets upgraded the electric vehicle giant to an Outperform rating from Market Perform off a positive view of the firms long-term positioning.
Volta (VLTA) crumbled double digits in premarket trading as the firm has shaken up its leadership board as it appointed Vincent Cubbage as Interim CEO and hired Stephen Pilatzke as Chief Accounting Officer. Early on VLTA trades lower by 12.5%.
Market participants that are in search for Wall Streetâs top gainers and decliners on the trading day should look to analyze Seeking Alpha's On The Move section.