NeuroMetrix Rally Continues; Shares Up 40%

Shares of NeuroMetrix Inc. (NURO) are surging nearly 40% on Friday morning driven by meme-stock investors.

NURO is currently trading at $13.88, up $3.91 or 39.22%, on the Nasdaq, on a volume of 29.9 million shares, far above the average volume of 8.1 million shares.

NeuroMetrix’s rally took off in July after the company’s Quell device received breakthrough designation from the U.S. FDA for treating the symptoms of fibromyalgia in adults.

Fibromyalgia is a common form of chronic pain that is also accompanied by fatigue, sleep, cognitive and mood disturbances. Quell is a non-invasive, wearable neurostimulator. The custom-designed microchip helps provide flexible, precise, high-power nerve stimulation.

Lightwave Logic Shares Up 21%

Shares of Lightwave Logic Inc. (LWLG) are surging over 21% Friday morning, after the company announced that the Nasdaq Stock Market LLC has approved the listing of the company’s common shares on the Nasdaq Capital Market.

The company expects to commence trading on the Nasdaq on Wednesday, September 1, 2021 under the symbol “LWLG”. The company’s common shares would continue to trade on the OTCQX until market close on August 31, 2021.

The stock, which has been trading in the range of $0.56 – $17.24 for the past one year, is currently trading at $9.39, up $1.64 or 21.16%, with trading volume of over 491K versus an average volume of 808K shares.

Infant Bath Seats Recalled Over Drowning Concerns

Bath seats for babies that were imported by Frieyss and sold on Amazon.com have been recalled due to a risk of drowning.

Nearly 120 infant bath seats were recalled as the bath seats failed to meet the federal safety standard, including requirements for stability and leg openings. The seats can also tip over while in use, posing a drowning hazard to babies.

The recalled Frieyss infant bath seats are blue plastic with four green suction cups on the bottom. Stickers featuring clouds, a lion, a sun and a squirrel holding two balloons are on the front bar. The seat is about 13 inches wide, 12 inches deep and 8 inches high. The bath seats are advertised as suitable for baby ages 6 months to 12 months.

The products were sold exclusively online at Amazon.com from March 2021 through April 2021 for about $40.

The company has asked customers to stop using the recalled infant bath seats and contact Frieyss for to receive a full refund.

Why Are Steve Martin, Selena Gomez and Martin Short Working Together? It’s a Mystery.

The three stars forge an unexpected partnership in the Hulu crime comedy series “Only Murders in the Building.”

By Dave Itzkoff

Weibo Slips 9% As Chinese Crackdown Continues

Shares of Weibo Corp. (WB) are slipping nearly 9% on Friday morning as China’s crackdown on tech companies listed in the US continues.

WB is currently trading at $49.69, down $4.83 or 8.85%, on the Nasdaq. The stock has traded between $32.51 and $64.70 in the 52-week period.

Due to China’s crackdowns on for-profit education firms, tech companies and other sectors, U.S.-listed Chinese stocks have been impacted in recent weeks.

Recently, microblogging site Weibo sold a 1 percent stake in its Chinese entity to a state firm and gave them access to its Board of Directors.

Early this month, Weibo reported second-quarter profit of $81.0 million or $0.35 per share, down from $198.4 million or $0.86 per share last year.

Adjusted earnings were $0.79 per share, compared to $0.50 per share last year. Analysts expected earnings of $0.63 per share for the quarter.

Revenues were $574.5 million, an increase of 48% compared to $387.4 million for the same period last year. Analysts expected revenue of $527.89 million for the quarter.

Ollie’s Bargain Outlet Down 7% On Lower Profit In Q2

Ollie’s Bargain Outlet Holdings, Inc. (OLLI) shares are declining more than 7 percent on Friday morning trade after the company’s second-quarter profit tumbled on reduced revenue.

The extreme value retailer of brand name merchandise reported quarterly net profit of $34.3 million or $0.52 per share, down from $99.4 million or $1.50 per share last year. On an adjusted basis, earnings were $34.0 million or $0.52 per share.

Total sales for the quarter declined 21.4 percent to $415.9 million from $529.31 million last year.

Currently, shares are at $71.82, down 7.61 percent from the previous close of $77.74 on a volume of 2,395,449. For the 52-week period, the shares have traded in a range of $65.32-$123.52 on average volume of 943,950.

RBI unveils Series VI Gold Bond Scheme

The Centre has decided to offer a discount of ₹50 per gram than the nominal value

The Reserve Bank of India (RBI) has announced the Sovereign Gold Bond Scheme 2021-22 Series VI, which will be open for subscription for the period August 30-September 3, 2021.

The nominal value of the bond, based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period, works out to ₹4,732 per gram of gold, the RBI said.

The Centre, in consultation with the RBI, has decided to offer a discount of ₹50 per gram less than the nominal value to those investors applying online and making payment against the application via digital mode.

“For such investors, the issue price of gold bond will be ₹4,682 per gram of gold,” the RBI said.