U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.08%

Shares of Dave & Buster’s Entertainment, Inc. rose sharply in today's pre-market trading after the company posted stronger-than-expected earnings for its second quarter on Tuesday.

Dave & Buster's reported quarterly earnings of $1.12 per share, which beat the analyst consensus estimate of 84 cents by 33.33%. Quarterly sales came in at $557.1 million, slightly below the analyst consensus estimate of $560.646 million.

Dave & Buster’s Entertainment shares jumped 12.7% to $33.66 in the pre-market trading.

Here are some other stocks moving in pre-market trading.

Gainers

• CN Energy Group. Inc. gained 201.1% to $0.8454 in pre-market trading after gaining over 5% on Tuesday.
• FTC Solar, Inc. rose 96.9% to $0.4431 in today's pre-market trading after the company announced that it has been selected by Strata Clean Energy to supply approximately 500 megawatts of its Voyager 2P solar tracker technology for multiple project sites in the U.S. and will be the preferred 2P solar tracker supplier over a three-year initial term.
• Quhuo Limited gained 79.7% to $2.39 in the pre-market trading session after jumping around 307% on Tuesday.
• BIO-key International, Inc. shares gained 27.6% to $2.55 in pre-market trading. BIO-Key shares jumped around 92% on Tuesday after the company announced it was rewarded $500K in new orders from a government defense ministry.
• China SXT Pharmaceuticals, Inc. gained 25.6% to $0.7090 in pre-market trading.
• Tantech Holdings Ltd gained 22.1% to $0.1690 in pre-market trading after declining around 5% on Tuesday.
• TOMI Environmental Solutions, Inc. gained 16.5% to $0.8980 in pre-market trading after declining 3% on Tuesday.
• Arcadium Lithium plc rose 9.7% to $2.48 in pre-market trading.
• NFT Limited gained 9.3% to $4.70 in pre-market trading.

Losers

• Telesis Bio, Inc. fell 52.9% to $1.79 in pre-market trading after the company announced that it has notified the Nasdaq Stock Market of its decision to delist.
• MultiPlan Corporation fell 22.8% to $0.1852 in pre-market trading. MultiPlan announced a 1-for-40 reverse stock split, effective Sept. 23.
• Rentokil Initial plc shares fell 17.6% to $26.02 in pre-market trading.
• Trump Media & Technology Group Corp. shares declined 16% to $15.65 in pre-market trading after gaining 3% on Tuesday.
• Silexion Therapeutics Corp S shares fell 16% to $1.04 in pre-market trading after jumping over 26% on Tuesday.
• iLearningEngines, Inc. shares fell 12.8% to $1.36 in pre-market trading. iLearningEngines shares jumped 115% on Tuesday after the company’s CEO responded to short seller statements.
• LiveOne, Inc. fell 12.6% to $1.25 in today's pre-market trading after declining over 6% on Tuesday.
• Relay Therapeutics, Inc. shares dipped 11.9% to $7.93 in pre-market trading. Relay Therapeutics priced its $200 million public offering of 28,571,429 common shares at $7/share.
• HWH International Inc. shares declined 11.6% to $0.47 in pre-market trading after jumping 17% on Tuesday.
• GameStop Corp. declined 10.5% to $20.98 in pre-market trading. GameStop reported a surprise profit for the second quarter, while sales missed expectations.

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Little-known drug manufacturer Regencell Bioscience saw its shares skyrocket on Tuesday on no apparent catalyst. However, it’s possible that the exceptionally distinct business profile — specializing in traditional Chinese medicine (TCM) for the treatment of neurocognitive disorders — caught the attention of speculators. While TCM offers some hope for medical utility, RGC stock remains a highly speculative investment.

Heading into the final stretch of the Tuesday session, Regencell gained about 345% of equity value. Naturally, the fervor over RGC stock caused the Nasdaq to halt trading multiple times today. As of this writing, the number of forcible halts amounted to 20 occurrences.

No news item appears to be responsible for the sentiment boost. Per Fintel, the short interest sits at only 0.06% of the float, with the short interest ratio coming in at only 1.64 days to cover. It’s unlikely, then, that short-squeeze speculation sparked the lift in RGC stock. Therefore, it’s possible that interest in Regencell’s almost-unique business catalyzed the jump higher.

While the first documented practice of TCM dates back to 200 BCE, it’s rare to find publicly traded companies that specialize in the field. Aside from RGC stock, China SXT Pharmaceuticals is one of a small handful of enterprises that offer TCM products.

RGC Stock Enjoys Some Rational Basis for Optimism

To underscore the wildness of RGC stock, it’s barely profitable over the past 52 weeks. That goes to show prospective investors the magnitude of red ink that long-term stakeholders have suffered. Still, it would also be unfair to declare that Regencell and the underlying TCM practice is completely speculative.

For one thing, TCM has a long history of use. That’s not to say that the practice doesn’t generate side effects because adverse reactions have been noted. However, some patients may feel more comfortable with the natural fundamentals of traditional solutions.

In addition, preliminary research into TCM shows that such therapeutics can spark positive changes in brainwave activity, thus improving behavioral challenges such as hyperactivity, impulsivity and learning difficulties in subjects affected by attention deficit hyperactivity disorder (ADHD). Such research is aligned with Regencell’s core focus, which targets ADHD and autism spectrum disorder.

Further, the TCM market is a growing one. According to Persistence Market Research, global revenue generated by the sector landed at $28.7 billion in 2022. By 2033, the ecosystem could be worth $49.6 billion, implying a compound annual growth rate of 5.1%.

Still, it should be noted that TCM lacks rigorous standardized research and testing. Therefore, investors should approach RGC stock with extreme caution.

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On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.

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