The overall market may be volatile on trade war fears, but that hasn’t stopped some stocks from exploding higher on the day. Some of those include:
Sprint Corporation (S:NYSE)
Shares of Sprint raced higher by 22% on the day after U.S. Federal Commission Chairman Ajit Pai said that based on commitments made by its proposed buyer, T-Mobile U.S. Inc, he plans to recommend approval of said merger.
Among the commitments were plans to deploy a 5G network that would cover 97% on the United States’ population in three years, and 99% over the next six years. In addition, the companies guaranteed that 90% of the U.S. population would have access to mobile broadband services at speeds of at least 100 Mbps, as reported by MarketWatch. “Two of the FCC’s top priorities are closing the digital divide in rural America and advancing United States leadership in 5G, the next generation of wireless connectivity,” Pai said.
T-Mobile US Inc. (NASDAQ:TMUS)
Shares of TMUS are up 5.7%, or $4.30 on the day after the FCC news as well. Volume is up to 13.1 million shares, as compared to daily average volume of 3.3 million shares.
Biocept Inc. (NASDAQ:BIOC)
Shares of BIOC were up 89%, or 73 cents on the day on volume of 49.9 million shares, as compared to daily average volume of 1.9 million shares. All after announcing the first commercial launch of Target Selector NGS Lung Panel, the company’s multi-gene liquid biopsy panel specifically developed for lung cancer. This product runs on Thermo Fisher Scientific’s Ion Torrent next generation sequencing (NGS) platform.