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<ul class="summary-list"><li><keyword id="10899406" type="UNKNOWN" weightage="60" keywordseo="exela">Exela</keyword> surged as high as 224% Tuesday after the company won a <keyword id="18178" type="COMPANY" weightage="60" keywordseo="contract">contract</keyword> from an unnamed health insurer. </li><li>Exela's 10-year contract broadens the company's relationship with the health insurer. </li><li>The company said previous work with the insurer has generated more than $28 million in revenue. </li></ul><a href="https://markets.businessinsider.com/stocks/xela-stock">Shares of Exela Technologies</a> more than tripled Tuesday after the company said it won a $90 million, multi-year contract to help a 'major' health insurer in accelerating its digital transformation work. The stock was up as much as 224% before paring gains to close at $4.61, up 179% for the day. Exela did not name the insurer in its statement but said the 10-year agreement is part of a broader relationship that included more than $28 million in revenue last year.Volume of about 439 million shares was sharply higher than average daily volume of 4.6 million shares.The company said its work under the contract will include blending automation technologies and software as a service through its PCH Global platform that launched in September.The venture will include working with end-to-end processing of "complex health insurance claims and multi-channel correspondence" between the insurance company and their provider and member networks, said Exela.

Exela Technologies leaps 179% after winning $90 million data-management contract from 'major' health insurer

<ul class="summary-list"><li><keyword id="6383278" type="PERSON" weightage="60" keywordseo="didi">Didi</keyword> has become a retail-investor favorite on its first day of trading, <keyword id="6405604" type="ORGANIZATION" weightage="60" keywordseo="fidelity">Fidelity</keyword> data show. </li><li>The stock topped retail buys in <keyword id="4205026" type="PERSON" weightage="60" keywordseo="exela-technologies">Exela Technologies</keyword> and <keyword id="320652" type="COMPANY" weightage="60" keywordseo="AMC-Entertainment">AMC Entertainment</keyword>. </li><li>Shares of the Chinese ride-hailing company surged as much as 28% during its <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword> Wednesday.</li></ul>Chinese ride-hailing company Didi has already become a retail-trader favorite in its first day on the public <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>, <a href="https://www.bloomberg.com/news/articles/2021-06-30/didi-hops-to-top-of-retail-favorite-s-leaderboard-right-at-debut?srnd=markets-vp&amp;sref=BWbpWjRmWjRm">Bloomberg first reported</a>. <a href="https://eresearch.fidelity.com/eresearch/gotoBL/fidelityTopOrders.jhtml">According to data from Fidelity</a>, Didi shares ranked number one among <keyword id="1141292" type="PERSON" weightage="60" keywordseo="retail-traders">retail traders</keyword> Wednesday, while Exela Technologies, which has seen heightened interest from Reddit investors this week, was second, and well-known meme-stock AMC Entertainment was third.Didi had more than 32,000 buy orders as of 3:15 p.m. in New York, compared to Exela and AMC, which each had about a third of that, the data showed. Didi's debut is the second largest among Chinese companies, after e-commerce giant Alibaba's initial public offering in 2014. The shares soared as much as 28% in their first day of trading, giving Didi an approximate $86 billion valuation, <a href="https://markets.businessinsider.com/news/stocks/didi-stock-price-ipo-chinese-firm-alibaba-ride-hailing-2021-6-1030568810">Markets Insider reported</a>. The valuation makes Didi the second largest ride-hailing app in the world after Uber, which is valued at $93 billion. Rumors about a potential IPO spread for several years before the company eventually filed its prospectus earlier this month, <a href="https://fortune.com/2021/06/29/didi-ipo-china-ride-sharing-everything-to-know/">Fortune reported</a>. Among Didi's largest shareholders are investment firm SoftBank, which has a 21.5% stake, Uber, which has a 12.8% stake, and Tencent, which has a 6.8% stake, Fortune said.

Chinese ride-hailing company Didi became a retail favorite on its first day of trading

<ul class="summary-list"><li>Gen Z investors are driving interest in penny stocks, S&amp;P Global Market Intelligence said in a report this week. </li><li>Penny stocks are cheap to buy for young traders who have less money to invest than their older counterparts do. </li><li>Gen Z investors also use fractional investing to buy large-cap shares such as Tesla. </li></ul>Gen Z traders tend to have less money than their older counterparts do, and inexpensive stocks serve as their main avenue into investing, according to an S&amp;P Global Market Intelligence report. Their penchant for penny stocks, interest in how <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> work, and relative lack of capital for investing are some of the "unique characteristics" of Gen Z investors, S&amp;P Global said in its <a href="https://cdn.roxhillmedia.com/production/email/attachment/900001_910000/616532e96b852f3c426c57c0fad39984267438f3.pdf">US Digital Investing report</a> published this week. "The challenges confronting young investors could explain why penny stocks were the most heavily traded equities on major U.S. exchanges in nine of the first 11 months of 2021," Tom Mason, senior research analyst at S&amp;P Global Market Intelligence, wrote in the report. "With penny stocks, one can buy a relatively large block of shares on the cheap." Cannabis producer <a href="https://markets.businessinsider.com/stocks/sndl-stock">Sundial Growers</a> (which traded around $0.56 a share on Thursday), workflow automation company <a href="https://markets.businessinsider.com/stocks/xela-stock">Exela Technologies</a> ($0.57) and oil producer <a href="https://markets.businessinsider.com/stocks/cei-stock">Camber Energy</a> ($0.44) were among the most heavily traded stocks last year. <a href="https://markets.businessinsider.com/stocks/amc-stock">AMC Entertainment</a> followed top-volume stock Sundial, even though the movie theater chain's shares trade above $15.The Gen Z stocks tended to have low percentages of institutional ownership, S&amp;P Global noted. AMC was the highest at about 30%, well below the 60% average for all US stocks traded on major exchanges. They also have disclosure and listing issues. Camber Energy recently won an extension from the New York Stock Exchange to file certain financial reports. And Sundial is working to avoid a potential delisting from Nasdaq as the bid price on common shares had fallen below $1 for 30 consecutive days. But Gen Z was undeterred. And to illustrate the new driving force in penny stocks, S&amp;P pointed out that in the third quarter of 2021 Gen Z was the only cohort to have Camber Energy in its top 20 holdings. The findings were based on an analysis of more than 6 million accounts by Apex Clearing, a provider of back-end services for retail trading apps.Despite their interest in penny stocks, young investors aren't shutting out large-cap names from their portfolios. <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>, <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a> and <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> are among their holdings, aided in part by retail trading apps offering fractional investing, a feature that lets investors buy a portion of high-priced stocks. "It seems, then, that some retail traders simply like penny stock trading, perhaps as a long-term, moon shot investment or as a way of making bets on short-term price movements," wrote Mason.

Gen Z investors gravitate toward penny stocks for a cheap way to start building wealth, says S&P Global

Welcome to 10 Things Before the <keyword id="117488" type="PERSON" weightage="60" keywordseo="Opening-Bell">Opening Bell</keyword>. If this was forwarded to you, <a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">sign up here.</a> Plus, <a href="http://newsletter.businessinsider.com/join/4np/insider-investing">sign up here for Insider Investing</a>, our weekly <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> analysis <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>.Let's get into it.1. Bitcoin is back in focus, slipping back below $38,000. Amazon has quashed chatter about it potentially adding crypto to its payment options. <a href="https://markets.businessinsider.com/news/currencies/amazon-denies-speculation-bitcoin-acceptance-plans-not-true-crypto-payment-2021-7">The company gave us the low-down on what it's looking at right now. </a>2. Cathie Wood's Ark Invest is shedding Chinese stocks fast amid regulatory crackdowns. The firm has sold its entire position of Tencent, and continues selling shares of other Chinese companies. <a href="https://markets.businessinsider.com/news/stocks/cathie-wood-ark-invest-selling-chinese-stocks-regulatory-crackdown-tech-2021-7">The move comes in light of escalating regulatory crackdowns from Beijing. </a>3. Investors pay thousands to see the stocks Jim Osman's puts on his buy list. Osman's firm provides investing recommendations for over 200 money managers. <a href="https://www.businessinsider.com/stock-picks-buy-jim-osman-upside-edge-group-inflation-protection-2021-7">He says these three stocks are set to soar 'at least 50%.'</a>4. Earnings on deck: Apple, Microsoft, Alphabet, Visa, and Starbucks <a href="https://markets.businessinsider.com/earnings-calendar">all reporting</a>. 5. Stick to stocks, Oppenheimer says. Low interest rates, strong earnings, and improving market fundamentals should compel investors to keep buying stocks. On top of all that, there's little competition given that <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-investors-keep-buying-equities-low-rates-oppenheimer-2021-7">the 10-year US Treasury yield is at 1.2%.</a>6. The SEC says US-listed Chinese companies must disclose risks - or else. The SEC Commissioner said that companies that fail to share potential risks or Chinese government involvement could be breaking the law. <a href="https://markets.businessinsider.com/news/stocks/sec-china-cybersecurity-probe-us-didi-stock-price-ipo-rlx-2021-07">Chinese IPOs like Didi have plummeted. </a>7. Bitcoin could surge at least 30% higher according to one analyst. Its 50-day moving average represents a key technical resistance level - and it just cleared it this weekend. <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-passing-key-technical-level-moving-average-btc-2021-7">Bitcoin is primed to make more gains ahead.</a>8. Tesla's got new competition: Lucid Motors spikes 20% in public debut as the latest EV company to enter the market. <a href="https://markets.businessinsider.com/news/stocks/lucid-motors-stock-price-spikes-public-debut-tesla-competitor-lcid-2021-7">The CEO believes the upstart brand is well positioned to compete with Tesla.</a>9. Stocks are still being shorted heavily - and some are especially primed for a squeeze. Data provider Fintel identified five heavily shorted stocks, including Exela Technologies, which recently achieved meme stock status. <a href="https://www.businessinsider.com/stocks-to-buy-5-likely-short-squeeze-candidates-july-25-2021-7">See the full list of five shorted stocks here. </a>10. Watch out for risky tech: Baird's top tech strategist says the strong earnings season makes the tech space remind him of the dot-com era. Despite bullish sentiment for tech analysts, the strategist warned against risky bets - <a href="https://www.businessinsider.com/tech-stock-investing-strategies-overvalued-portfolio-repositioning-high-valuations-baird-2021-7">and he gave three strategies to protect against catastrophe.</a>Compiled by Phil Rosen. Feedback? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.Sign up for <a href="https://www.businessinsider.com/subscription/newsletter">more Insider newsletters here.</a>

10 things before the opening bell

Welcome to 10 Things Before the <keyword id="117488" type="PERSON" weightage="60" keywordseo="Opening-Bell">Opening Bell</keyword>. If this was forwarded to you, <a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">sign up here.</a> Plus, <a href="http://newsletter.businessinsider.com/join/4np/insider-investing">sign up here for Insider Investing</a>, our weekly <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> analysis <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>.Let's get into it.1. Global equities are looking at bit steadier after the Dow's biggest one-day fall this year. As virus variants continue to threaten the global economic recovery, investors are getting nervous. <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-us-futures-delta-variant-cryptocurrencies-bitcoin-price-2021-7">See the rest of the numbers here.</a>2. Oil hit a seven-month low. Prices suffered as <a href="https://markets.businessinsider.com/commodities/news/oil-price-supply-wti-brent-crude-opec-covid-delta-variant-2021-7">OPEC+ agreed to increase oil supply</a> in August while the surge in new COVID variant cases renews worries about oil demand. <a href="https://markets.businessinsider.com/news/stocks/oil-energy-stocks-chevron-exxon-shell-bp-delta-variant-open-2021-07">Energy stocks have tumbled in lockstep with oil prices, leaving equity investors worried as well.</a>3. Missed the meme-stock short squeeze? Fintel identified five heavily shorted stocks primed for a squeeze this week. The list includes Marin Software and Exela Technologies - <a href="https://www.businessinsider.com/stocks-to-buy-5-likely-short-squeeze-candidates-july-18-2021-7">see the other three here. </a>4. Earnings on deck: Netflix, Snap, Chipotle, and United Airlines Holdings <a href="https://markets.businessinsider.com/earnings-calendar">all reporting today</a>.5. Cathie Wood's bubble may be set to burst - at least that's what one JPMorgan strategist thinks. The analyst thinks Wood's flagship ETF is showing dot-com bubble-like traits.<a href="https://markets.businessinsider.com/news/stocks/cathie-wood-arkk-fund-luring-investors-into-bull-trap-jpmorgan-2021-7"> He says investors may be baited into Wood's 'bull trap' if they aren't careful.</a>6. Don't panic - the recent stock sell-off is a 'healthy pullback' according to one analyst. The S&amp;P 500 is down 3% from its record high, but an expert claims the dip will be short-lived. <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-equity-sell-off-healthy-pullback-technical-analysis-2021-7">Read the rest of the technical analyst's predictions.</a>7. Robinhood looks to make a splash in its stock market debut. The investing app company plans to raise up to $2.3 billion in its upcoming IPO. Number of shares, stock price range, and more - <a href="https://markets.businessinsider.com/news/stocks/robinhood-ipo-pricing-upcoming-stock-market-debut-offering-price-2021-7">get the full details</a>.8. The COVID-19 recession sucked, but it was the shortest downturn in US history. The National Bureau of Economic Research wrote that the recession lasted from February to April last year. <a href="https://www.businessinsider.com/coronavirus-recession-lasted-2-months-shortest-downturn-us-history-nber-2021-7">Despite this record-short recession, economic activity remains slow to fully bounce back.</a>9. Tracking meme stocks can pay off big. One expert who built a website designed to track meme stocks shared how to track Reddit momentum and find frauds. <a href="https://www.businessinsider.com/how-to-find-the-next-meme-stock-9-real-support-2021-7">Plus, he told us the nine meme stocks with the most loyal fanbases.</a>10. The world's largest crypto asset manager is launching a decentralized index fund. The CEO of Grayscale told Insider why his firm is prioritizing DeFi, and shared <a href="https://www.businessinsider.com/how-to-invest-defi-tokens-grayscale-fund-michael-sonnenshein-interview-2021-7">exactly why this type of investing is on the rise.</a>Compiled by Phil Rosen. Any feedback? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.Sign up for <a href="https://www.businessinsider.com/subscription/newsletter">more Insider newsletters here.</a>

Good morning and welcome to 10 Things Before the <keyword id="117488" type="PERSON" weightage="60" keywordseo="Opening-Bell">Opening Bell</keyword>. If this was forwarded to you, <a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">sign up here.</a> Invitation: Join us July 15 for a live conversation with Insider's investing reporters and crypto experts from Ark Invest, Fundstrat, and Castle Island Ventures.<a href="https://www.businessinsider.com/crypto-webinar-outlook-investing-opportunities-2021-6"> Register here.</a>Let's get into it.1. US stock indexes closed at <a href="https://markets.businessinsider.com/news/stocks/stocks-market-news-us-record-highs-earnings-season-growth-dow-2021-7">record highs</a> on Monday ahead of major corporate earnings releases. But analysts at Bank of America say don't count on a hefty earnings season to keep things elevated. <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-2q-earnings-bofa-economic-growth-2021-7">Read what the pros think ahead of the earnings reports.</a>2. Another one bites the dust: TikTok's owner Bytedance nixed an offshore IPO after talks with Chinese officials. Following other major cybersecurity reviews in China, Beijing authorities told the $180 billion company to look into data-security risks, per the WSJ. <a href="https://markets.businessinsider.com/news/stocks/tiktok-bytedance-ipo-plans-as-china-tech-companies-security-didi-2021-7">Get the full rundown here.</a> 3. Building a 35-unit property portfolio isn't easy, but this firefighter did it while working full-time. He turned to real estate initially as a safety net, but 300 deals later and his income has skyrocketed - <a href="https://www.businessinsider.com/real-estate-investing-financing-strategy-acquisition-units-income-mike-webb-2021-7">and he shared exactly how he did it.</a>4. Earnings from PepsiCo, Goldman Sachs, and JPMorgan all expected today. <a href="https://markets.businessinsider.com/earnings-calendar">See the full calendar here.</a>5. What to expect from today's Consumer Price Index report: The inflation gauge is expected to have risen 0.5% in June, down from May, which suggests recent price gains aren't permanent, per analysis from FXStreet. <a href="https://www.fxstreet.com/analysis/us-consumer-price-index-june-preview-has-inflation-peaked-202107120508">Here's what else the data could show. </a>6. In 2021, having a kid can pay real dividends. With the revamped child tax credit, parents can get a $300 check this week from the government. <a href="https://www.businessinsider.com/irs-child-tax-credit-payment-dates-families-monthly-payments-2021-6">Find out if you're eligible. </a>7. Analysts at Morgan Stanley warn of a transitional period in the <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>. They say stocks are already in a "rolling correction," and expect it to continue through year-end. <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-correction-record-highs-morgan-stanley-midpoint-cycle-2021-7">See why these analysts think differently than other banks' projections.</a>8. Orioles' slugger is swinging for the fences on and off the field. After surviving the disease, Trey Mancini is releasing NFTs to raise money for a cancer charity. <a href="https://markets.businessinsider.com/currencies/news/orioles-first-baseman-trey-mancini-to-release-nfts-for-cancer-charity-2021-7">He's among a slew of celebrities and athletes to hop on the NFT wave. </a>9. "Trillion-dollar man" Dan Peña is betting on a stock market crash - and it's coming a lot sooner than you may think. Margin debt is at an all-time high, interest rates are at an all-time low, and the market's overvalued. <a href="https://www.businessinsider.com/next-stock-market-crash-risks-how-to-invest-dan-pena-2021-7">Peña shared exactly how to avoid getting caught in a crash.</a>10. Yes, even after the Gamestop fiasco, shorting stocks is still a thing. Data provider Fintel said Exela Technologies and Newegg, among others, are ripe for a short squeeze - and both have recently been labeled as meme stocks. <a href="https://www.businessinsider.com/stocks-to-buy-5-likely-short-squeeze-candidates-fintel-data-2021-7">Read the rest of their list of heavily shorted stocks, and find out which one has risen over 70% within the last week.</a>Compiled by Phil Rosen. Any feedback? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.Sign up for <a href="https://www.businessinsider.com/subscription/newsletter">more Insider newsletters here.</a>

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Exela Technologies leaps 179% after winning $90 million data-management contract from 'major' health insurer

Carla Mozée

Chinese ride-hailing company Didi became a retail favorite on its first day of trading

Natasha Dailey

Gen Z investors gravitate toward penny stocks for a cheap way to start building wealth, says S&P Global

Carla Mozée

10 things before the opening bell

Phil Rosen

10 things before the opening bell

Phil Rosen

10 things before the opening bell

Phil Rosen

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