24H | AMD, Micron, Marvell Jump over 1%; Drone Maker Ondas Gains 6%; BlackBerry Rockets 11%; Genius Group Soars 25%

Tiger Newspress
12 hours ago

Chip stocks continued to rise in overnight trading. Marvell, AMD, Micron jumped over 1%.

On Monday, Melius analysts reportedly said AMD stock “has a lot more to go” as the company’s position in the artificial intelligence industry grows. The broker raised its price target to $175 from $110, above the Wall Street consensus of roughly $124 compiled by Visible Alpha. 

Investment firm CFRA also upgraded the Dr. Lisa Su-led company, citing upcoming products and sales.

Ondas Holdings jumped over 6% in overnight trading as it said Tuesday its American Robotics unit formed a partnership with Mistral to market autonomous drone platforms to US defense and homeland security sectors.

Canada's BlackBerry raised its annual revenue forecast on Tuesday, anticipating steady demand for its cybersecurity services amid growing online crimes, sending the company's U.S.-listed shares up 11% in overnight trading.

A rise in cybercrimes and hacks has spurred companies to invest heavily in cybersecurity, benefiting firms such as BlackBerry that provide security services.

Cybersecurity remains largely insulated from broader spending volatility and is likely to continue as a top investment priority for customers, analysts have said.

Genius Group stock soared 25% as Chief Executive Officer Roger Hamilton bought 650,000 shares of the company at $0.54 apiece, boosting his total holdings by 10% to 7.5 million shares.

The latest acquisition follows a series of prior investments, including a $2.1 million interest-free loan in 2023, the company said Tuesday in a statement.

"As founder of Genius Group, I have been consistent in my ongoing financial support and optimism in our company's future," Hamilton said in the statement.

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