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$SONN Sonnet BioTherapeutics exploded over 320% in buzz, closing up 86% today after announcing an $888 million business combination to launch a HYPE cryptocurrency treasury reserve strategy. The combined company is set to become the largest publicly listed U.S. firm holding HYPE in its treasury, staying Nasdaq-listed with Bob Diamond as Chairman. This crypto pivot is drawing in speculative traders looking for high beta plays as crypto sentiment soars, pushing volume nearly eight times above average.
$CAN Canaan shares jumped 27% as Bitcoin briefly reached a new all-time high amid strong ETF inflows and optimism around crypto legislation in the U.S. This momentum has driven heavy volume into CAN, well above its 32M average, making it one of today’s standout crypto-adjacent movers. Traders are speculating that as Bitcoin surges, mining hardware demand will accelerate, positioning CAN for potential near-term strength.
$RCAT Red Cat Holdings climbed 20.5% as traders circled the stock following a sharp 38% rise in short interest. The drone and robotic tech company has become a battleground for shorts and momentum traders, with investors speculating on a potential squeeze amid high short interest and growing sector buzz in defense and surveillance applications.
$SQNS Sequans Communications surged as traders reacted to positive sentiment around its focused execution in the growing IoT and 5G markets. With semiconductor stocks catching a bid and Sequans leveraging its niche connectivity solutions, investors see potential upside ahead of upcoming earnings catalysts and industry momentum.
$VBTX Veritex shares rose 19.5% after Huntington Bancshares announced it will acquire Veritex for $1.9 billion, expanding Huntington’s reach in the Texas market. The deal is seen as strategically sound, combining Veritex’s strong community banking model with Huntington’s broader platform, creating optimism about operational synergies and growth potential post-merger.
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