Why NVIDIA, GoPro, Lannett Company and 2 Other Stocks Are Gaining Ground Today

FDA Approves Lannett’s Paroxetine Extended Release Tablets

Lannett Company, Inc. (NYSE:LCI)’s stock is soaring by over 12% today after the company said it had received FDA approval for its Abbreviated New Drug Application (ANDA) for Paroxetine Extended Release Tablets USP. In a statement, Lannett said that total sales of Paroxetine Extended Release-Tablets USP, 12.5 mg, 25 mg and 37.5 mg, at Average Wholesale Price (AWP) were approximately $122 million in the U.S last year.

17 hedge funds in our database were bullish on Lannett Company, Inc. (NYSE:LCI) at the end of March. Among them, Philippe Laffont’s Coatue Management held a notable position of more than 1.80 million shares of the company.

Momo’s Stock on the Rise

Momo Inc (ADR) (NASDAQ:MOMO)’s stock has jumped by 8.99% today. Shares appear to be riding a general wave of positive sentiment in the Asian market, as the BNY Mellon China ADR Index is up by 2% in afternoon trading. The Beijing, China-based social media company posted better than expected earnings back in May. Out of the funds that we track, ten held shares of Momo Inc (ADR) (NASDAQ:MOMO) at the end of the first quarter.

GoPro’s Shares Surging

GoPro Inc (NASDAQ:GPRO)’s stock has increased by more than 10% today. GoPro’s CEO Nick Woodman recently confirmed that the company will launch three new products this year and the company recently appointed famous media figure Lauren Zalaznick to its Board. GoPro shares have rallied since mid-May but are still trading down by 32% year-to-date. Of the 766 active funds that we track, 16 owned $96.26 million worth of GoPro Inc (NASDAQ:GPRO) shares on March 31, which accounted for 5.90% of the stock’s float.

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