Why GoPro Inc (GPRO), Medallion Financial Corp (TAXI) and Vascular Biogenics (VBLT) Are 3 of Today’s Best Stocks

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U.S. markets stumbled again today, as ongoing anxiety over both the global market slowdown and last week’s Federal Reserve inaction continue weighing on traders and investment psychology.

Why GoPro Inc (GPRO), Medallion Financial Corp (TAXI) and Vascular Biogenics (VBLT) Are 3 of Today's Best StocksThe major indices remain in correction mode, down about 11% off their most recent highs. Commodities were off more than 3%, and oil continued to drift lower as well. But it wasn’t just U.S. stocks, European stocks were also hit hard Tuesday.

In economic news, the U.S. Federal Housing Finance Agency said their July home price index was up 0.6%. That was good news, but it didn’t seem to make a dent in the bearish tone for the day.

The Dow Jones Industrial Average ended 1.1% lower, the S&P 500 Index was off 1.2% and the Nasdaq Composite shed 1.5%. All of the general sectors fell today, while basic materials were the weakest sector of all.

In light of this, it was tough to find many winners today, but GoPro Inc (NASDAQ:GPRO), Medallion Financial Corp (NASDAQ:TAXI) and Vascular Biogenics (NASDAQ:VBLT) bucked the trend to finish up as three of today’s best stocks. Here’s how they rose above the fray.

GoPro Inc (GPRO)

GPRO stock was a winner today after CEO Nick Woodman told CNBC that his company has been talking with companies like Apple Inc (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG, NASDAQ:GOOGL) strictly about partnerships, and there have not been any discussions of an acquisition.

Woodman also dismissed recent talk that his company is a “one trick pony,” saying he has heard the same sentiment repeated ever since he created the company, and that they are working with top technology companies to develop new products and services.

Pete Najarian of CNBC was bullish on GPRO stock, saying he thinks the stock could push higher from here. GPRO’s stock price has been cut in half since the first week of August, but finished over 3% higher today.

Medallion Financial Corp (TAXI)

Shares of TAXI were riding high today after the company had a positive write up in Monday’s Barron’s magazine.

In the article, it was noted that the selling (which has been heavy recently because of the success of Uber) is overdone. Why? Because the firm’s taxi medallion portfolio is only 51% of the overall portfolio and 19% of interest income.

TAXI stock is down about 60% from its all time high. The stock finished 11% higher today.

Vascular Biogenics (VBLT)

VBLT stock, which was a big winner over the last two trading days, surged another 22% higher Tuesday.

While there was no news, the catalyst for VBLT’s huge spike in price continues from yesterday’s initiation of coverage and Friday’s news that VBLT will present at the European Society for Medical Oncology.

Yesterday, Chardan Capital Markets initiated coverage of VBLT with a “buy” rating and a price target of $25. Analyst Gbola Amusa said he has confidence in Vascular Biogenics cancer therapy, VB-111, for the treatment of ovarian and thyroid cancer.

Amusa sees VBLT as one of the leading names among the gene therapy sector, and included Vascular Biogenics among the leading names in the gene therapy domain that are expected to “generate excess returns in the coming five to 10 years.”

As of this writing, Ethan Roberts did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/09/best-stocks-gpro-taxi-vblt/.

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