MannKind (MNKD) - Trump Victory Sparks Stock Market Surge

Despite the fear that the Trump win initially posed to the markets, major indices have seen some of their strongest performances yet. Last week the Dow soared to new heights and posted its biggest weekly gain since December of 2011. The S&P as well as the Nasdaq Composite also saw some of their strongest weeks in recent history. With the recent surge that the pending Trump presidency has miraculously had since the votes were tallied, many stocks have benefited from this renewed momentum. MannKind Corporation (MNKD), ExoLifestyle Inc. (EXOL), DryShips Inc. (DRYS), and Eagle Bulk Shipping Inc (EGLE) have all see an increase in trading momentum over the last few days.

Last week, MannKind announced that they had reached an agreement with Sanofi whereby ManKind will sell $10.2 million worth of insulin to Sanofi in December. This is part of an already preexisting commitment to purchase insulin following the termination of the collaboration and MannKind’s exercise of a put option. Since making the announcement, shares of MannKind have been propelled by market momentum to move from lows of $0.4125 to highs of $0.675 as of last Friday.

Similarly, shares of ExoLifestyle have rebounded in the second half of last week. After hitting lows of $0.0712 on Thursday, the stock has begun to rally back. As of Friday, ExoLifestyle closed 67.3% from those lows. Just last week the company announced that it had realized a 106% increase in revenue for calendar year Q3. CEO Vaughan Dugan stated, "This is only the beginning. We are gearing up to surpass these figures for Q4 of 2016, especially as we enter the Holiday season. Though these figures are great I truly believe EXO is in its infancy and fully expect it to continue to grow at a rapid pace."

DryShips Inc. has also benefited from Trump becoming the president-elect. Shares of the shipping company increased by as much as 318% over the last three days. The stock was halted several times but continued to trend higher. There haven’t been any major announcements and the recent press published by the company discussed how the company reported a quarterly loss on its third quarter financial statements. Though there has been some concern over Trumps trade policy, many stocks in the sector have rallied in recent trading sessions.

This also includes shares of Eagle Bulk Shipping, which have also benefited from strong positive trading activity during recent trading sessions. Many reports have cited that much of this positive movement could have been from the growing short interest over the last few weeks of trading. Benzinga reported that, “Eagle Bulk currently has an elevated short percent of float of 22.6, suggesting that a lot of Eagle Bulk bears were caught off-guard by Trump’s victory and have been scrambling to cover. The large short interest means Eagle Bulk’s big run may still have some legs in days to come.”

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