It seems like another week of market woes as S&P heads for a new 2022 closing low. The surging U.S. dollar is causing havoc in global currency markets, which appears to be spilling into the equity markets. The British pound hit a record low against the dollar on Monday, and the greenback strengthened against other major currencies, including the Japanese yen. The DXY US Dollar Currency Index was trading near 114 on Monday, up from roughly 109 at the start of the month and 96 at the beginning of the year.
For investors who want to limit the damage caused by currency swings below are some stocks to place on top of your list.
Mainz Biomed N.V. (NASDAQ:MYNZ) is currently trading at $7, up 1.45%. MYNZ has a 52-week high of $30, and it looks like with the recent market sell-off, MYNZ stock prices have also dipped, creating a potential opportunity for value investors.
Mainz Biomed develops market-ready molecular genetic diagnostic solutions for life-threatening conditions. The Company’s flagship product is ColoAlert, an accurate, non-invasive, and easy-to-use early detection diagnostic test for colorectal cancer. ColoAlert is currently marketed across Europe and in the United Arab Emirates with the intention of beginning its pivotal FDA clinical study in 2022 for U.S. regulatory approval. Mainz Biomed’s product candidate portfolio also includes PancAlert, an early-stage pancreatic cancer screening test based on real-time Polymerase Chain Reaction-based (PCR) multiplex detection of molecular-genetic biomarkers in stool samples.
According to a recent press release, Mainz Biomed is advancing its pivotal FDA clinical study in 2022 for U.S. regulatory approval. Notably, MYNZ announced receiving supportive feedback from the FDA on ColoAlert's pre-submission package, setting up its pivotal U.S. clinical trial to commence in Q4 2022. Also, consider ColoAlert an excellent product that could be made even better, with MYNZ initiating and enrolling the first patient in an international clinical study (ColoFuture) evaluating the integration of novel mRNA biomarkers into ColoAlert. If results post as expected, ColoAlert, already a best-in-class diagnostic screen, could score an upgrade, reaching "gold standard" status for CRC at-home testing (1)
In addition to the value inherent to ColoAlert, Mainz Biomed is advancing a second portfolio asset, PancAlert, an early-stage pancreatic cancer screening test based on real-time Polymerase Chain Reaction-based (PCR) multiplex detection of molecular-genetic biomarkers in stool samples. In layman's terms, because of its accurate real-time results, it, too, can be a first and best-in-class screening for pancreatic cancer. Milestones reached in its development have also been published (1). The Mainz Biomed tells a story much different from what its share price suggests. Remember, they do not need to go to the capital markets and minimal debt; those metrics support higher, not lower, share prices. Still, the current disconnect is not necessarily bad news; it does expose a window of opportunity for investors seeking low-priced entry into promising companies. And with a compelling total of its parts, Mainz Biomed makes that list (1).
Check out this Company Profile Video For More Insight about Mainz Biomed (NASDAQ:MYNZ)
Video Link: https://www.youtube.com/embed/-orNsKHtc3Y
Other stocks catching wind on Monday afternoon are Wynn Resorts (NASDAQ:WYNN) soared about 11% after Macao announced its plan to allow Chinese tour groups back in the casinos as soon as November.
Chinese electric vehicle makers Li Auto Inc (NASDAQ:LI) and Xpeng Inc (NYSE:XPEV) saw shares increase after Beijing announced an extension of tax breaks on electric vehicles. Xpeng went up about 3%. Li, a competitor, jumped about 5.5% despite cutting guidance for the third quarter.
Chegg (NYSE:CHGG) shares of the educational tech company jumped more than 6% after Needham upgraded the company to a buy rating from hold.
Atlas (NYSE:ATCO) shares increased 3.7% following a statement from Poseidon Acquisition that it had increased its bid to $15.50 per share, up from $14.45.
Disclaimer: InvestorBrandMedia is not operated by a licensed broker, a dealer, or a registered investment adviser. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. Our reports/releases are commercial advertisements and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The information made available in this article is not intended to be, nor does it constitute investment advice or recommendations. The contributors may buy and sell securities before and after any particular article, report, and publication. In no event shall Investor Brand Media be liable to any member, guest, or third party for any damages of any kind arising out of the use of any content or other material published or made available by Investor Brand Media ., including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information in this video, article, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. InvestorBrandMedia.com strongly urges you to conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D. For some content, Investor Brand Media, its authors, contributors, or its agents, may be compensated for preparing research, video graphics, and editorial content. As part of that content, readers, subscribers, and website viewers are expected to read the full disclaimers and financial disclosures statement that can be found on our website by visiting InvestorBrandMedia.com/Disclaimer. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact may be forward-looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quotes; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor’s investment may be lost or impaired due to the speculative nature of the companies profiled. Investor Brand Media has been compensated four thousand two hundred and fifty dollars by a 3rd party Bullyzeye Media LLC for content, research, dissemination, and syndication, web push advertisement services pertaining to MYNZ from 09/25/2022 to 09/29/2022. We own zero shares of MYNZ.