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Promising Mid Cap Stocks To Watch Today - May 3rd

ProShares UltraPro Short QQQ logo with background
Image from MarketBeat Media, LLC.

Key Points

  • MarketBeat flagged three Mid Cap names to watch today — ProShares UltraPro Short QQQ (SQQQ), AXT (AXTI), and Arcellx (ACLX) — selected because they posted the highest dollar trading volume among mid caps in recent days.
  • ProShares UltraPro Short QQQ (SQQQ) is a leveraged ETF that seeks daily results equal to three times the inverse of the NASDAQ‑100, making it a tactical short/hedge rather than a traditional long equity.
  • AXT (AXTI) designs and supplies semiconductor substrates (notably indium phosphide) for data centers, 5G, photonics and lidar, while Arcellx (ACLX) is a clinical‑stage biotech developing ddCAR immunotherapies with a lead candidate in phase 2 for relapsed/refractory multiple myeloma.
  • Five stocks we like better than ProShares UltraPro Short QQQ.

ProShares UltraPro Short QQQ, AXT, and Arcellx are the three Mid Cap stocks to watch today, according to MarketBeat's stock screener tool. Mid-cap stocks are shares of companies whose market capitalization falls in the middle of the market — typically about $2 billion to $10 billion, though exact cutoffs vary by index provider. For investors they generally offer a balance of growth potential and stability, with higher upside than large caps but less volatility and risk than small caps. These companies had the highest dollar trading volume of any Mid Cap stocks within the last several days.

ProShares UltraPro Short QQQ (SQQQ)

ProShares UltraPro Short QQQ (the Fund) seeks daily investment results, which corresponds to three times the inverse of the daily performance of the NASDAQ-100 Index (the Index). The Index includes 100 of the non-financial domestic and international issues listed on National Association of Securities Dealers Automated Quotation (NASDAQ) Stock Market.

Read Our Latest Research Report on SQQQ

AXT (AXTI)

AXT, Inc. designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.

Read Our Latest Research Report on AXTI

Arcellx (ACLX)

Arcellx, Inc., together with its subsidiary, engages in the development of various immunotherapies for patients with cancer and other incurable diseases in the United States. The company's lead ddCAR product candidate is anitocabtagene autoleucel, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory multiple myeloma (rrMM).

Read Our Latest Research Report on ACLX

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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