U.S. stock benchmarks fought for purchase in positive territory in early Tuesday trade, but the Nasdaq secured a fresh intraday all-time high, underscoring a resurgence in the sector that has been among the market’s more influential.
Dow Jones Industrial Average were down 55 points, or 0.22%, to 24,757, while S&P 500 index was little changed at 2,744. The Nasdaq Composite Index climbed 10 points, or 0.13%, at 7,616, on track for its third straight up day after touching an intrasession record at 7,632.78
On Monday, the Nasdaq Composite closed at a record for the first time since March 12, rising 0.7%, to 7,606.46. The S&P 500 finished 0.5%, to 2,746.87, while, the Dow advanced 178.48 points, or 0.7%, to 24,813.69.
The small-capitalization oriented Russell 2000 index also closed at a fresh all-time peak, rising 0.22%, to 1,657.05.
Shareholders were hunting for fresh catalysts to keep the start-of-the-week gains for stocks going, as they regroup after recent market upheaval triggered by political stress in Italy. More stability on that front could be coming, if the new Italian coalition government makes it past a confidence vote in parliament.
Some inspiration may come from the technology sector, given the gains for the Nasdaq. Apple Inc. shares were higher in premarket trading, after scoring a record finish on Monday, as details from its software-focused Worldwide Developers Conference emerged. A rise for Twitter shares was also playing its part. In Tuesday trade, European tech stocks hit a 17-year high, according to FactSet.
Shareholders appeared to be putting trade tensions aside, even after trade talks broke down between the U.S. and China over the weekend. But leaders of the Group of Seven nations will hold talks in Canada on Friday and Saturday, where tariffs and trade are likely to be talked about. This weekend’s rebuke by G-7 finance ministers of the Trump administration’s trade tariffs could add some stress to the gathering. (Source: MarketWatch)
Stock in Focus: Neovasc Inc (NASDAQ: NVCN)
Neovasc Inc (NASDAQ: NVCN) has grabbed attention from the analysts when it experienced a change of -0.57% in the current trading session to trade at $0.04. A total of 15.29M shares exchanged hands during the intra-day trade contrast with its average trading volume of 98.91M shares, while its relative volume stands at 0.32. Relative volume is the comparison of current volume to average volume for the same time of day, and it’s displayed as a ratio. If RVOL is less than 1 it is not In Play on this trading day and Investors may decide not to trade it. If RVOL is above 2 it is In Play and this is more evidence Investors ought to be in the name. When stocks are *very* In Play one can see a RVOL of 5 and above. The higher the RVOL the more In Play the stock is.
Neovasc Inc. (NASDAQ, TSX: NVCN) is happy to declare the results of the votes on matters considered at its Annual General and Special Meeting of Shareholders held on June 4, 2018 in Vancouver, B.C. (the “Meeting”).
At the Meeting, the shareholders of the Company re-elected board members Alexei Marko, Paul Geyer, Dr. Jane Hsiao, Steven Rubin, Dr. William O’Neill, and Doug Janzen to serve in office until the next annual meeting or until their successors are duly elected or designated. Detailed results of the voting in respect of the election of directors are as follows:
|Nominee||Votes For||% Votes For||Votes Withheld||% Votes Withheld|
|Dr. Jane Hsiao||561,304,486||96.65%||19,470,400||3.35%|
|Dr. William O’Neill||562,311,935||96.82%||18,462,951||3.18%|
At the Meeting, the Shareholders also approved amendments to the Company’s stock option plan and the unallocated options thereunder (91.69% of votes cast in favour), approved the Company’s Common Share Consolidation (83.84% of votes cast in favour) and re-designated Grant Thornton LLP, Chartered Accountants as auditors of the Company (94.81% of votes cast in favour).
As of May 31, 2018, a total of 1,860,184,719 Common Shares were issued and outstanding.
Volatility is simply a measure of the predictable daily price range—the range in which a day trader operates. More volatility means greater profit or loss. After a recent check, Neovasc Inc (NASDAQ: NVCN) stock is found to be 14.04% volatile for the week, while 13.69% volatility is recorded for the month.
The stock has a market cap of $2.79M and the number of outstanding shares has been calculated 78.92M. Based on a recent bid, its distance from 20 days simple moving average is -6.34%, and its distance from 50 days simple moving average is -28.21% while it has a distance of -94.56% from the 200 days simple moving average. The company’s distance from 52-week high price is -98.12% and the current price is 25.44% away from 52-week low price. The company has Relative Strength Index (RSI 14) of 42.31 together with Average True Range (ATR 14) of 0.01.
Past 5 years growth of NVCN observed at N/A, and for the next five years the analysts that follow this company is expecting its growth at N/A. The stock’s price to sales ratio for trailing twelve months is 0.52 and price to book ratio for the most recent quarter is N/A, whereas price to cash per share for the most recent quarter are N/A. Its quick ratio for the most recent quarter is N/A. Analysts mean recommendation for the stock is 1.00. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
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