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Market highlights: Here is why these four stocks surged on Monday

4 January 2022 By
  • Apple could be a "$250 stock," says Loop Ventures' Gene Munster
  • BTIG’s Marie Thibault initiates coverage on Pear Therapeutics with a "Buy" rating
  • Tesla delivers record units in Q4 2021

Apple market cap hits $3 trillion

Apple Inc. (NASDAQ: AAPL) shares were up 3% on Monday, taking the iPhone maker's market cap to $3 trillion. The company has taken less than four years to grow its market cap from $1 trillion to the $3 trillion valuation. Speaking on CNBC's "Closing Bell," Loop Ventures' Gene Munster praised the company for reaching that milestone, adding that the company will drive additional growth as a major player in the development of Metaverse in the coming years. Munster said that Apple "could be a $250 stock," which represents a 35% upside. If AAPL hits the milestone, that could translate to a market cap of $3.8 trillion.

Pear Therapeutics coverage initiated with a "buy" rating

Also, Pear Therapeutics Inc. (NASDAQ: PEAR) shares were up 25% in the last session following BTIG’s announcement that the company was in a better position in the prescription digital therapeutics sector. BTIG's Marie Thibault commenced coverage on Pear Therapeutics with a "buy" rating and a target price of $12 per share, representing 60% upside from current levels. Marie said that there are clear advantages in the prescription digital therapeutics sector, including some significant adverse effects of access at any moment via consumer tech, lower costs, enhanced insights for clinicians, and reduced barriers to treatment.

Geneprex receives Fast Track Designation  for REQORSA

Genprex Inc. (NASDAQ: GNPX)  shares surged 130%  after the clinical-stage gene therapy firm that focuses on cancer and diabetes treatments announced that the FDA had granted its Fast Track Designation for REQORSA Immunogene therapy. REQORSA is the company's flagship drug candidate for the treatment of unresectable, histologically confirmed stage three or four non-small cell lung cancer. The company will commence an Acclaim II multi-center, open-label clinical study in Q1 2022 to evaluate REQORSA.

Tesla delivered 308,600 units in Q4 2021

Shares of the electric car manufacturer, Tesla Inc. (NASDAQ: TSLA) jumped almost 10% after the company announced record deliveries for 2021. The company said that it delivered around 308,600 units in the fourth quarter bring a total number of vehicles delivered in 2021 to 936,172 units. The number represents a YoY increase of 87% from 2020. The company's CEO Elon Musk said that the target for the company is 20 million vehicles by 2030. In addition, Tesla's newly built factory in Texas will starter Model Y crossover production in 2022.