Jon Najarian – Editor, Weekly Options Profits
Welcome to another edition of 60 Seconds with Jon Najarian!
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Here’s what you need to know before you go…
ArQule, Inc. (NASDAQ: ARQL)
Watch out Grant Cardone! ArQule is starting the week off with a 10X kind of day.
ARQL is a biopharmaceutical company that develops therapeutics for treating cancer and other rare diseases. We talked about the company on TV last week after noticing some unusual option activity in the December calls.
Earlier today, news came down that Merck & Co. (NYSE: MRK) has entered a deal to acquire the drug developer. The merger has DOUBLED the value of ARQL’s stock, while the options have skyrocketed! BANG!
PG&E Corporation (NYSE: PCG)
You might remember PG&E Corp. from an issue we published back in October after the recent California wildfire fiasco.
PCG was in the hot seat (to say the least) when it was found that some of the blazes were actually ignited by their power lines.
The power company soared higher by more than 14% today after a $13.5 Billion settlement was reached with the victims of the fires.
Cannabis Stocks Rally
Pot stocks are doing slightly better today after two firms recently hurt by lousy earnings reports have made some improvement back to the upside.
A leader in the Canadian cannabis market, Canopy Growth (NYSE: CGC) is rocking higher to the upside today on news that the CFO of Constellation brands; David Klein, will take over as CEO.
Meanwhile, Aurora Cannabis (NYSE: ACB) has made some improvements of their own today The medical cannabis producer fell hard after disappointing fiscal first-quarter earnings. But now shares of ACB are trending higher to the upside by a nice 7% at writing.
You’ll want to keep an eye on the sector moving forward.
The Bottom Line
That does it for this edition of 60 Seconds.
We’ll keep an eye on all the market action and will give you an update on all of the most important news in our next issue.
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