Here Is Why NewsMax (NMAX), WeRide (WRD) and Oklo (OKLO) Are Shooting Higher Today

After days of nerve-wracking, trade war-induced volatility, markets are showing signs of life.

The Dow is currently up about 610 points. The S&P 500 is up about 80, as the NASDAQ jumps 287 points, helping push some of the most oversold stocks higher on the day.

That includes stocks such as NewsMax (NYSE:NMAX), WeRide (NASDAQ:WRD) and Oklo (NYSE:OKLO).

NewsMax 

After going public at $14 on March 31, NewsMax (NMAX) rallied to a high of$265 briefly in its post-IPO surge.

Unfortunately, the party didn’t last long with the television broadcaster and multi-platform publisher now back to $22.34. While we can always blame market volatility for the drop, we have to consider that the company lost $72 million last year and sported a ridiculous valuation out of the gate, which wasn’t sustainable.

However, after the decline to $22.34 – which gives us a more sensical valuation – investors sent the stock up about $1.39 this morning. A key long-term catalyst is the assumption that NMAX will see above-average growth with its growing popularity among conservatives. It may even be able to take market share from larger competitors, which are losing market share.

That includes MSNBC, which reportedly lost 18% of its audience.

WeRide 

Oversold shares of WeRide (WRD), a provider of autonomous driving products and a robotaxi pure play, is up about 4% on the day.

After going public at $15.50 in October, and racing to a high of $44, WRD now sits at a low of $8.81. However, it is slowly starting to pivot higher. Helping, WRD is a pure play in the robotaxi market, which is expected to become a $10 trillion market by 2030.

Granted, sales are low with high operating expenses, but it is gaining traction on partnerships. Most recently, it partnered with Uber Technologies with Dubai’s Road and Transport Authority to bring autonomous vehicles to Dubai. Also, after receiving a driverless permit in France, it now holds permits across five countries. Including France, it now holds permits in the UAE, Singapore, China and the United States.

Oklo 

Shares of nuclear technology company, Oklo (OKLO) are also pushing higher on the day.

While the stock recently slumped on growing losses and its long road to commercialization, it is gaining traction on the artificial intelligence data center story. Remember, AI centers will fuel higher energy demand, such as nuclear energy, which is piquing investor interest.

Plus, as noted by CEO Jacob DeWitte, “Nuclear energy has gained unprecedented government support, and AI has triggered a Sputnik moment, accelerating the demand for dependable, domestic power,” Oklo CEO Jacob DeWitte said in a letter to shareholders.

The post Here Is Why NewsMax (NMAX), WeRide (WRD) and Oklo (OKLO) Are Shooting Higher Today appeared first on 24/7 Wall St..