Early Gains Alert! Top Picks Inside!

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Hello Part-time Trader…👋

Premium Stock Alerts is here with your pre-market cheat sheet. In today's issue, we delve into:

  • Fed's Latest Announcements: Understand the Federal Reserve's recent decisions and economic outlook, and how they might influence the markets.

  • Volume Anomalies: Identify stocks witnessing unusual trading volumes, pointing to potential opportunities or risks.

  • Top Pre-Market Movers: Identify early winners poised for a strong market opening.

  • Market Indices & Sector Overview: Get a snapshot of key market indices and sector performances to gauge the day's potential trends.

  • FDA Approvals & Upcoming Decisions: Keep an eye on the latest FDA approvals and crucial upcoming decisions affecting biotech and pharmaceutical stocks.

Now, let's dive into today's edition for a closer look at the insights and analysis that will shape your trading decisions.


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Happening Today

✓ 10:00 AM ET – FOMC Member Bostic Speaks

✓ 10:30 AM ET – Dallas Fed Mfg Business Index (Mar)

✓ 10:30 AM ET – Fed Governor Cook Speaks

✓ 01:00 PM ET – 2-Year Note Auction

PREMARKET SNAPSHOT 📈

Stocks are mixed today, with the NASDAQ leading the way with a gain of 0.1% while the S&P 500 and Dow Jones are down slightly.

S&P500

$5,234.18

⬇️ -0.14% 

Dow

$39,475.9

⬇️ -0.77% 

NASDAQ

$16,428.82

⬆️ 0.16%

SECTOR SNAPSHOT 

Today's market is a tale of two halves: Tech (+0.45%) and Communication Services (+0.85%) climb, whereas Financials (-1.21%) and Real Estate (-1.24%) decline.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,475.13

-0.63% 🔴

Consumer Staples

806.75

-0.56% 🔴

Energy

705.67

-0.20% 🔴

Financials

689.52

-1.21% 🔴

Health Care

1,696.81

-0.14% 🔴

Industrials

1,060.31

-0.34% 🔴

Materials

575.83

-0.59% 🔴

Real Estate

242.74

-1.24% 🔴

Information Technology

3,869.95

+0.45% 🟢

Communication Services

286.45

+0.85% 🟢

Utilities

324.34

+0.15% 🟢


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Unusual Volume

📈 Biolase Inc (BIOL) jumped 19.53% to $0.18 on a whopping 131.37 million shares traded.

📈 Investors went wild, sending Tilray Brands Inc (TLRY) stock soaring 18.46% to $2.31 on a massive volume of 96.07 million shares after the company released the expansion of Redecan's product portfolio with the launch of its latest genetics featuring Space Age Cake available in whole flower and its ‘Hemp’d’ pre-roll collection.

📈 Abnormal activity shook Faraday Future Intelligent Electric Inc (FFIE), pushing it down -3.16% to $0.13 on a whopping 76.01 million shares traded.

📈 Nova Lifestyle Inc (NVFY) stock recently closed 64.32% upper at $3.04 on substantial volume of 69.18 million shares.

📈 Canopy Growth Corporation (CGC) increase by 68.64% in a single trading session, with abnormally high trading volume of 67.0 million shares following the German government's final approval legalizing cannabis, as well as advancing a clear victory for enhanced medical cannabis access.


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Premarket Movers

MicroAlgo Inc. (MLGO) experiences a substantial 61.69% surge in pre-market trading, driven by the announcement of a pioneering deep clustering algorithm, with a pre-market price of $6.50 and a trading volume of 1.63 million shares.

Flora Growth Corp. (FLGC) sees a significant 36.70% increase, reaching a pre-market price of $2.16, alongside an update on Germany's cannabis legalization, with a trading volume of 1.60 million shares.

Salarius Pharmaceuticals, Inc. (SLRX) demonstrates a noteworthy 24.27% surge, with a pre-market price of $0.77 and a trading volume of 940.36 thousand shares, indicating investor confidence in its pharmaceutical advancements.

Pre Market Gainers

Pre Market Change

Pre Market Volume

EGOX

+101.78%

57.05M

CISS

+4.50%

2.59M

MLGO

+61.69%

1.63M

FLGC

+36.74%

1.60M

WISA

+3.60%

1.39M

SLRX

+24.27%

940.36K

ESPR

+18.34%

621.96K

JAGX

+4.59%

527.66K

SMFL

+9.57%

500.72K

FRGE

+16.31%

405.03K


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Important FDA 

Recently Announced

Orchard Therapeutics plc (ORTX) achieved a significant breakthrough in pediatric medicine with the FDA's recent endorsement of its pioneering gene therapy, OTL-200, recognized as Lenmeldy. This approval, disclosed on March 18, 2024, marks a pivotal moment in the treatment of metachromatic leukodystrophy in children.

Meanwhile, OptiNose Inc. (OPTN) broadened the application of its innovative XHANCE nasal spray with the FDA granting approval on March 15, 2024, for its efficacy in managing chronic rhinosinusitis in adult patients. This expansion underscores OptiNose's commitment to addressing diverse medical needs through advanced nasal delivery solutions.

Upcoming this Week

Merck & Co Inc. (MRK) anticipates a pivotal moment as the FDA decision on Sotatercept, slated for March 26, 2024, looms. This decision holds immense significance for adult patients suffering from pulmonary arterial hypertension, with the potential to offer a new ray of hope in treatment.

Akebia Therapeutics, Inc. (AKBA) stands on the cusp of a significant milestone as the FDA decision on Vadadustat approaches on March 27, 2024. Vadadustat's resubmitted NDA holds promise as a potential remedy for anemia resulting from chronic kidney disease in adult patients undergoing dialysis.

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Happy investing,

Maeve Grace
Editor In Cheif
Premium Trade Alerts

 Important: This newsletter does not provide investment advice. The stocks mentioned should not be taken as recommendations. Your investments are solely your decisions.

Disclosure: I hold no positions in any companies mentioned, either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.

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