Shares of the biopharmaceutical company Viking Therapeutics surged 21% on Thursday, October 24. The gains were attributable to released financial results for the third quarter, which showed that the company had sufficient financial resources to continue clinical trials for its promising weight-loss pill. If they are successful, Viking could eventually challenge current market leaders Novo Nordisk and Eli Lilly. Recall that earlier this month, Morgan Stanley included Viking in a list of small-cap stocks with at least 50% upside.

Potential Eli Lilly and Novo Nordisk competitor surges 21% on third-quarter financials

Today, Thursday, October 24, quotes on Magnite, an online <a href="https://www.magnite.com/about-us/">advertising</a> company, have advanced after it <a href="https://investor.magnite.com/news-releases/news-release-details/disney-and-magnite-announce-two-year-deal-renewal">announced</a> a two-year extension and expansion of its contract with Disney. In particular, the renewed agreement allows Disney to monetize college football games on live streams by leveraging Magnite’s technology.

Ad-tech firm Magnite climbs after deal renewed with Disney

Shares of La Rosa Holdings, a real estate brokerage and services company, <a href="https://www.nasdaq.com/market-activity/stocks/lrhc">skyrocketed</a> over 130% on Wednesday, October 23. This followed the company’s <a href="https://larosaholdings.com/press-release?i=139478">announcement</a> of a 120% year-over-year spike in preliminary revenue for the first nine months of 2024 and guidance for a profitable 2025.

La Rosa Holdings doubles market capitalization on upbeat preliminary nine-month financials

Shares of low-cost carrier Spirit Airlines jumped more than 18% in premarket trading today, Wednesday, October 23. Earlier in the day, the <a href="https://www.wsj.com/business/airlines/frontier-spirit-airlines-revive-merger-talks-a7ee5912?mod=livecoverage_web">reported</a> that the company had revived merger discussions with Frontier Airlines. This is not Spirit’s first attempt to strike a deal with a competitor — a previous merger attempt, with JetBlue Airways, was blocked by a federal judge.

Low-cost carrier Spirit soars on revived merger talks with Frontier

Shares of BioSig Technologies, a medical technology company focused on deciphering the body’s electrical signals, particularly heart rhythms, <a href="https://www.nasdaq.com/market-activity/stocks/bsgm">surged</a> 34% in over-the-counter (OTC) trading on Tuesday, October 22. The rally followed the company’s <a href="https://ir.biosig.com/sec-filings-email/content/0001493152-24-041894/form8-k.htm">announcement</a> that starting today, Wednesday, October 23, its shares would resume trading on the main Nasdaq exchange, after Nasdaq granted BioSig a grace period to regain compliance with the minimum stockholders’ equity requirement.

Medtech company BioSig soars on news of Nasdaq relisting

Quotes on iRhythm Technologies, which makes heart monitors, <a href="https://www.marketwatch.com/investing/stock/irtc">surged</a> more than 20% in premarket trading today, Tuesday, October 22, following an <a href="https://investors.irhythmtech.com/news/news-details/2024/iRhythm-Technologies-Receives-FDA-510k-Clearance-for-Design-Updates-Previously-Made-to-Its-Zio-AT-Device/default.aspx">announcement</a> that the U.S. Food and Drug Administration (FDA) had approved design changes for its Zio AT monitor. <a href="https://www.massdevice.com/fda-clears-irhythm-zio-changes-warning/">Scrutiny</a> from the regulator and the U.S. Department of Justice dating back to last year led iRhythm to modify the device.

Heart monitor maker iRhythm surges after FDA approval for design changes

Shares of Playboy Group (officially PLBY Group) surged over 15% on Monday, October 21, after news broke that Cooper Hefner, the youngest son of Playboy founder Hugh Hefner, is offering $100 million for the brand, as <a href="https://www.wsj.com/business/media/hugh-hefners-son-offers-to-buy-playboy-brand-for-100-million-53b8eb88">reported</a> bythe . The current market capitalization of PLBY Group stands at $61.7 million.

Playboy Group stock soars after founder’s son makes offer to buy back the brand

Goldman Sachs has downgraded to a "sell" Canada Goose, a Canadian luxury outerwear maker with a market capitalization of just over $1 billion. As reasons for the move the investment bank cited high competition, weak sales in the luxury market, and slowing revenue growth. The same day, Canada Goose stock hit a one-month low in the U.S.

Goldman Sachs downgrades Canada Goose to a ‘sell’

Shares of low-cost carrier Spirit Airlines, with a market capitalization of $161 million, <a href="https://www.marketwatch.com/articles/spirit-airlines-stock-jetblue-refinancing-extension-46871b2d?mod=mw_quote_news">surged</a> 40% in premarket trading today, Monday, October 21, after the company <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0001498710/eb889122-2c29-499f-b13b-ff7b9f37a85f.pdf">announced</a> that it had been granted a two-month extension to finalize a debt refinancing deal with its bondholders. If it fails to do that, Spirit risks losing the ability to process credit card payments next year.

Spirit Airlines soars 40% after debt refinancing extension granted

Morgan Stanley has put together a list of small-cap stocks that, on their numbers, have 50% upside or more, as <a href="https://www.businessinsider.com/stocks-picks-to-buy-huge-upside-small-cap-morgan-stanley-2024-10?IR=T#10-american-airlines-1">reported</a> by Business Insider. Meanwhile, the investment bank forecasts double-digit growth in the small-cap-tracking Russell 2000 index in the coming months.

Morgan Stanley spotlights 10 small-cap stocks with at least 50% upside

"In my entire life, I never dreamed that we would be talking about medicines that are providing hope for people like me who have struggled for years with being overweight or with obesity," famous TV host Oprah Winfrey <a href="https://people.com/celebrities-ozempic-wegovy-what-theyve-said-7104926">told</a> magazine two and a half years after Novo Nordisk's weight-loss drug Wegovy hit the market. Currently, Wegovy and Zepbound, made by U.S.-based Eli Lilly, account for 95% of the obesity market. In the upcoming years, however, they may face over a dozen new competitors. Which companies should investors keep an eye on in the space?

The skinny on investing in the weight-loss drug market

On Thursday, October 17, shares of XORTX Therapeutics, a maker of drugs to treat progressive kidney diseases, <a href="https://www.nasdaq.com/market-activity/stocks/xrtx">plunged</a> over 16% in New York and more than 9% on the <a href="https://ca.finance.yahoo.com/quote/XRTX.V/">in Toronto</a> following the <a href="https://www.xortx.com/news/press-releases/detail/167/xortx-announces-pricing-of-us1-5-million-registered-direct">announcement</a> of a $1.5 million registered direct offering. On the Nasdaq, the company’s market capitalization now stands at $5.3 million.

Small caps