September 23 Market Movers: Wheeler REIT, Artelo Biosciences, Fastly and Others

• Wheeler Real Estate Investment Trust, Inc. (NASDAQ: WHLR) gained 190.91%, but its second-quarter results were released in August and do not establish a cause for the September 23 jump.
• Artelo Biosciences, Inc. (NASDAQ: ARTL) rose after announcing a provisional patent application involving its obesity drug candidate, ART27.13. The results cited by the company came from mouse studies, not human trials.
• Fastly, Inc. (NASDAQ: FSLY) gained 13.69% to $29.65. Its listing is on Nasdaq, rather than the NYSE.

Wheeler REIT closed at $5.44 (+190.91%) after a volatile session. Its shares had begun trading on a 1-for-9 reverse-split basis the previous day. The company’s second-quarter report came out on August 6, and a specific cause for the September 23 surge has not been confirmed.

Artelo’s (+74%) announcement concerned a potential use of ART27.13 for obesity, alone or alongside GLP-1 medicines. The early findings may interest investors, but a provisional patent filing is not an approved patent, and the reported weight-loss findings do not demonstrate that the treatment works in people.

Professional Diversity Network, Inc. (NASDAQ: IPDN) also rose sharply (+38%). It had announced an AI infrastructure subsidiary in August, so that earlier launch should not be presented as a confirmed catalyst for this day’s gain. Fastly rebounded (+13.69%) after volatile trading around its Investor Day. Meanwhile, the MicroSectors Gold Miners -3X Inverse Leveraged ETN (NYSE Arca: GDXD) gained (+13%) as a product designed to seek three times the inverse daily performance of a gold-miners index; it is an exchange-traded note, not a mining company stock.