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Four stocks moving on Wall Street: Globalstar (GSAT), Twitter (TWTR), Tilray (TLRY), Sundial Growers (SNDL)

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What? No GameStop, Dogecoin or Bitcoin this week? For starters, Bitcoin is so Monday. Let’s take a closer look instead at what was moving on Wall Street yesterday and in the pre-market.

Globalstar (GSAT)

We want you to look at Globalstar (NYSEAMERICAN:GSAT), the satellite communications company, which has broken out and gone from $1.22 to hit a peak of $2.14. We had it in pre-market trading at $2.08 but still up over 60% on trading in the US yesterday.

New options on Globalstar became available on 2 February and it is notable that there is a call contract with a $3 strike price which is attracting interest in some quarters. We are seeing a lot of investor interest on Globalstar with little to zero news flow coming out of the company, which either means there is something leaking out, or there is forum-driven retail activity.

We saw steady buying through most of the day Tuesday on Globalstar stock with some profit taking throughout, but this one looks like it has some momentum.

Twitter (TWTR)

Next up is Twitter Inc (NYSE:TWTR) which we all known and love. The stock has been on a drive since mid-January when it hit a dip at around 45 bucks. It is now pushing the 60 dollar mark. There has been steady buying of Twitter since then. It has set a new six month high and is also trading at a 52 week high.


Twitter reported fourth quarter revenues and adjusted profits which beat Wall Street forecasts. The daily user count fell short of estimates though. The price has been closing well above its 20 day moving average, so we anticipate some fierce profit taking if there is any bad news which emerges on Twitter in the near future – e.g. a Congressional probe into social media. But there is a lot of love out there for Twitter on Wall Street right now. This thing could go even higher on the back of $222m fourth quarter profits.

Tilray (LON:0Z6Y / NASDAQ:TLRY)

Tilray (NASDAQ:TLRY) is a cannabis stock and cannabis is a hot sector right now in the US, and has been since Joe Biden won the election back in November. Tilray has been on a run with US investors since the start of the week. Excitement surrounds a deal by Tilray to export medical marijuana to the UK. Tilray merged with Aphria to create the world’s biggest cannabis company and now says it expects to have cannabis products on the UK medical market by March.

Cannabis exports to Europe are going to be a big part of the sector’s story as well this year – we have already seen shares in hemp products and medical CBD specialist HempFusion head skywards yesterday, as the company is also exporting to the European market and has the appropriate EU certifications in place.

Sundial Growers Inc (SNDL)

Cannabis seems to be in danger of becoming the wave that lifts all ships, but investors are also piling into Sundial Growers Inc (NASDAQ:SNDL). Most of the share price action came on Friday, but there are still a LOT of investors following this one. The stock price seems to have settled at a new level of $1.64.

Take a step back to August 2019 and Sundial Growers was trading at $11.50. That’s a long way from where it now but it is now trading in a bigger, more mature and sophisticated market and with most Americans backing legalisation.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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