Why Are These Stocks Surging Today?

In a pleasant surprise, TherapeuticsMD Inc (NYSEMKT:TXMD) shares are almost 10% in the green today as the stock bounces back from the losses caused by the Tuesday announcement that the biotech company plans to raise $125 million from issuing common stock. In a press release issued today, TherapeuticsMD Inc (NYSEMKT:TXMD) disclosed that it plans to offer shares at $8.25 apiece and to use the proceeds to finance commercialization activities for TX-004HR, the company’s applicator-free vaginal estradiol softgel drug candidate, along with other purposes.

With volatility back and fear skyrocketing, it’s not surprising that Barrick Gold Corporation (USA) (NYSE:ABX) shares are 7.3% higher today as gold commodity prices have also rallied by over 1.2% in afternoon trading. If George Soros is right and 2016 is a potential replay of 2008 and gold prices rallied a lot in 2008, the rally in gold might not be as fragile as the bears think. Hedge fund sentiment in Barrick Gold Corporation (USA) (NYSE:ABX) has remained stable, with the number of elite funds long the stock falling by just two quarter-over-quarter to 40 at the end of September.

Wrapping up our list is Chico’s FAS, Inc. (NYSE:CHS), whose shares are 5% in the green in afternoon trading. Although there is no particular fundamental news for Chico’s FAS, Inc. (NYSE:CHS)’s gains today, is somewhat of a value play with a dividend yield of 2.89% and a forward P/E of 13.5. A total of 23 elite funds among those we track also owned the stock at the end of the third quarter, up from 19 at the end of the second quarter.

Disclosure: None