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5 Top Stock Gainers for Wednesday: SPI Energy, Checkpoint Therapeutics

SPI Energy, Checkpoint Therapeutics, Aethlon Medical, Clovis Oncology and World Wrestling Entertainment are five top gainers for Wednesday.

Stocks finished higher Wednesday as investors focused on an upcoming Labor Department report.

Here are some of the big movers in the stock market Wednesday:

1. SPI Energy | Increase 28%

Shares of solar energy and electric vehicle solutions provider SPI Energy  (SPI) soared after the company's Phoenix Motorcars division started production on its third-generation drive-train products. The first three units were completed out of the company's Ontario, Calif., facility and are ready for delivery to customers.

2. Checkpoint Therapeutics | Increase 19%

Checkpoint Therapeutics  (CKPT)  jumped after B. Riley analyst Justin Walsh began coverage of the biotech company with a buy rating and an $18 price target. Walsh said Checkpoint's lead drug, cosibelimab, which treats solid tumors, could do well clinically and grow market share, helped by the company’s pricing strategy,

3. Aethlon Medical | Increase 388%

Aethlon Medical  (AEMD)  more than quintupled on Wednesday -- the intraday high was $12.49 -- after the Reddit investing crowd turned its attention to a device from the medical-technology company that showed promising results for two COVID-19 patients. Reddit users referenced a June 8 Zacks report about the Hemopurifier, which is designed to filter viruses and exosomes from the blood.

4. Clovis Oncology | Increase 11%

Clovis Oncology  (CLVS)  climbed as the biotech company joined the meme stock party. Bret Jensen, a regular contributor to Real Money Pro, TheStreet’s sister site for active traders, said last month that the company was a potential acquisition target.

5. World Wrestling Entertainment | Increase 11%

World Wrestling Entertainment  (WWE)  jumped the most in 13 months, apparently becoming the latest company to attract the attention of the WallStreetBets subreddit crowd. A trending post made the case for buying WWE stock options.