Trending Tickers: Novo Breaks With $HIMS, $CCCM’s Bitcoin Deal, $QS Hits Milestone
This week, several stocks caught investors’ attention, driven by significant developments and market momentum. Here’s the breakdown of this week’s trending stocks:
Novo Nordisk Cuts Ties With $HIMS Over Compounded Wegovy Concerns
Novo Nordisk has ended its brief collaboration with Hims & Hers Health ($HIMS), citing illegal mass compounding and misleading marketing practices related to weight loss drug Wegovy.
Background
Novo Nordisk, the maker of FDA-approved weight management drug Wegovy (semaglutide), began working with select telehealth companies in April to transition patients away from compounded knockoff versions following the resolution of a nationwide shortage.
According to the company, Hims & Hers violated laws prohibiting the mass production of compounded drugs and misrepresented their offerings under the guise of “personalized” treatments. Novo says these compounded versions often contain illicit semaglutide sourced from foreign suppliers that are uninspected or have prior violations.
Novo Nordisk emphasized its intent to continue partnering with telehealth providers that adhere to legal and safety standards through its NovoCare Pharmacy platform. The company reiterated its commitment to ensuring access to authentic, FDA-approved medication for patients with obesity and related chronic conditions.
Stock Price Reaction
Shares of $HIMS fell 34.7% on the day of the announcement, reflecting investor concern over reputational risks and regulatory scrutiny.
$CCCM to Merge With Pompliano’s ProCap in $1B Bitcoin Deal
Anthony Pompliano—entrepreneur, investor, and one of the most recognized advocates for Bitcoin—has announced a $1 billion deal to take his bitcoin-native financial firm ProCap Financial public through a merger with SPAC Columbus Circle Capital Corp. I ($CCCM).
Pompliano, who has invested in more than 300 private companies and co-founded Morgan Creek Digital, is positioning ProCap to bridge the gap between Bitcoin and traditional finance. The new company plans to hold large bitcoin reserves and generate profits through various monetization strategies aimed at institutional clients.
Key Details
- The merger with $CCCM, a special purpose acquisition company (SPAC), brings ProCap to public markets.
- ProCap raised $516.5 million in equity and $235 million in convertible notes—marking the largest initial fundraise in history for a bitcoin treasury-focused public company.
- Institutional and crypto-native backers include Magnetar Capital, Woodline Partners, Blockchain.com, Arrington Capital, FalconX, and others.
- Bitcoin purchases from the initial raise are already held in custody, offering immediate BTC exposure to equity investors.
- Convertible notes are 2x collateralized and structured with a 130% conversion rate.
ProCap expects to finalize the transaction by year-end, pending SEC approval.
Stock Price Reaction
$CCCM stock surged in the days leading up to the official announcement as rumors of the merger circulated, reaching a high of $16.25—well above its net asset value (NAV). However, on the day of the announcement, the stock pulled back to just under $12. Despite the drop, it continues to trade at a premium to the SPAC’s NAV.
QuantumScape ($QS) Achieves Major Milestone
QuantumScape Corporation ($QS), a U.S.-based battery technology company developing solid-state lithium-metal batteries, announced that its Cobra separator process has officially entered baseline production—a key step toward commercializing its next-generation energy storage platform.
According to QuantumScape, the Cobra platform replaces the previous Raptor process used in early-stage cell production. The company says Cobra offers around 25x faster heat treatment speeds and requires significantly less physical space, enabling a more scalable and efficient gigafactory setup.
Cobra is described as the foundation of a continuous-flow ceramic separator production system. The company claims this advancement supports faster, lower-cost manufacturing and serves as the new baseline for its battery cell builds. Improvements in production metrics are expected to continue as future iterations of Cobra are introduced.
Executives say the shift to Cobra reflects a major upgrade in QuantumScape’s manufacturing capabilities. CEO Dr. Siva Sivaram described it as a key enabler for commercialization, while co-founder and CTO Tim Holme called it a “step-change” improvement in ceramic processing.
Stock Price Reaction
$QS shares jumped 31% on the day of the announcement, reflecting investor enthusiasm around the company’s ability to scale its technology toward commercial deployment.
This article is for informational purposes only and is not investment advice or a solicitation to buy or sell securities. The content is based on publicly available information and reflects the author’s opinions as of the publication date, which may change without notice. All investments carry inherent risks, including the potential loss of principal, and past performance is not indicative of future results. Forward-looking statements, including references to projected revenues, market trends, or business developments, are based on current expectations and assumptions. Actual results may differ due to various factors, including regulatory changes, economic conditions, competitive pressures, and unforeseen market fluctuations. Readers should conduct their own research or consult a financial advisor before making investment decisions. BBAE holds no position in the securities mentioned, nor are they compensated by the companies mentioned.
