PSFE - Hot Stocks: KMB hits low on earnings; PSFE downgrade; MARK becomes a meme; M&A boosts PAE AUPH
Consumer-products giant Kimberly-Clark (NYSE:KMB) became the latest inflation victim on Monday. The maker of Kleenex and Cottonelle toilet paper dropped to a new 52-week low in midday trading on disappointing earnings results. Paysafe (NYSE:PSFE) also showed weakness in intraday action, falling on a bearish analyst comment. Conversely, Remark Holdings (NASDAQ:MARK) saw its stock price rally by nearly 75% thanks to meme-trading interest. Elsewhere, PAE (NASDAQ:PAE) jumped on a merger deal, and Aurinia Pharma (NASDAQ:AUPH) extended recent strength on speculation that it could receive a bid from Bristol Myers Squibb (NYSE:BMY). Gainers Remark Holdings (MARK) has become the latest stock in the meme spotlight. Shares spiked 72% following increased chatter on online sources like Reddit's WallStreetBets and Stocktwits. PAE (PAE) also skyrocketed in intraday action, getting a boost from news of a takeover deal. The stock rose 68% on news that it has agreed to be purchased by Amentum for $10.05
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Hot Stocks: KMB hits low on earnings; PSFE downgrade; MARK becomes a meme; M&A boosts PAE, AUPH