Fast Profits, Smart Plays! Pre-Market Guide

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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

✓ 08:30 AM ET – GDP (QoQ) (Q4)

✓ 08:30 AM ET – Initial Jobless Claims

✓ 09:45 AM ET – Chicago PMI (Mar)

✓ 10:00 AM ET – Michigan 5-Year Inflation Expectations (Mar)

PREMARKET SNAPSHOT 📈

Among major indexes, Dow Jones takes the crown with a 1.22% daily gain.

S&P500

$5,248.49

⬆️ 0.86% 

Dow

$39,760.08

⬆️ 1.22%

NASDAQ

$16,399.52

⬆️ 0.51%

SECTOR SNAPSHOT 

While most sectors gained today, Utilities (+2.75%) were the star performer.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,487.53

+1.10% 🟢

Consumer Staples

812.84

+0.96% 🟢

Energy

713.36

+0.94% 🟢

Financials

697.35

+1.22% 🟢

Health Care

1,722.04

+1.30% 🟢

Industrials

1,066.00

+1.60% 🟢

Materials

583.63

+1.44% 🟢

Real Estate

246.46

+2.42% 🟢

Information Technology

3,825.31

+0.12% 🟢

Communication Services

285.16

+0.11% 🟢

Utilities

330.99

+2.75% 🟢


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Unusual Volume

📈 iBio Inc (IBIO) jumped 192.17% to $3.36 on a whopping 170.42 million shares traded after it announced that it has entered into a collaboration agreement with AstralBio, Inc. to discover, engineer and develop novel antibodies to treat obesity and other cardiometabolic conditions.

📈 Investors went wild, sending Verb Technology Company Inc (VERB) stock soaring 0.36% to $0.28 on a massive volume of 129.66 million shares after the company released that it has entered into a formal partnership with TikTok Shop pursuant to which MARKET.live has become a service provider for TikTok Shop and is officially designated as a TikTok Shop Partner (TSP).

📈 Abnormal activity shook Gamida Cell Ltd (GMDA), pushing it down -82.74% to $0.06 on a whopping 125.55 million shares traded. This decrease followed news that it has entered into a Restructuring Support Agreement with certain funds managed by Highbridge Capital Management, LLC, the Company’s principal lender.

📈 Canopy Growth Corporation (CGC) stock recently closed 32.09% upper at $9.55 on substantial volume of 53.25 million shares.

📈 Trump Media & Technology Group Corp. (DJT) increase by 14.19% in a single trading session, with abnormally high trading volume of 32.59 million shares.


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Premarket Movers

Kintara Therapeutics, Inc. (KTRA) experiences a substantial 21.79% surge in pre-market trading after announcing expansion of REM-001 clinical study to include patients on Pembrolizumab.

Akebia Therapeutics, Inc. (AKBA) sees a significant 14.28% increase, reaching a pre-market price of $2.56 after receiving FDA approval of Vafseo® (vadadustat) tablets for the treatment of Anemia due to chronic kidney disease in adult patients on dialysis.

SRIVARU Holding Limited (SVMH)demonstrates a noteworthy 11.32% surge, with a pre-market price of $0.29. The company announced that it has successfully completed on-road driving range tests of the Company’s new Prana 2.0 intelligent battery system.

Pre Market Gainers

Pre Market Change

Pre Market Volume

KTRA

+21.79%

10.75M

AKBA

+14.28%

2.61M

SVMH

+24.15%

853.31K

PIK

+65.14%

707.27K

TLRY

+4.64%

465.05K

JAGX

+2.74%

419.37K

XXII

+14.07%

252.95K

BCAN

+5.59%

228.85K

SMR

+4.35%

226.92K

AVTX

+277.89%

188.09K


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Important FDA 

Recently Announced

Akebia Therapeutics, Inc. (AKBA) receives FDA approval for Vadadustat, a potential treatment for anemia in adult chronic kidney disease patients on dialysis.  

Merck & Co Inc. (MRK) celebrates FDA approval for Sotatercept, now known as WINREVAIR, for pulmonary arterial hypertension in adults. Following successful BLA submission, this approval highlights Merck's commitment to cardiovascular health innovation, offering hope to patients with this debilitating condition.

Orchard Therapeutics plc (ORTX) achieves FDA approval for Lenmeldy, formerly known as OTL-200, for treating metachromatic leukodystrophy in children. With previous approvals in other countries, this milestone underscores Orchard's dedication to advancing gene therapy for rare genetic disorders, bringing new hope to affected families.

Upcoming Announcements

VANDA PHARMACEUTICALS (VNDA) awaits the FDA decision on the expanded use of Fanapt for treating bipolar I disorder in adults, scheduled for April 2, 2024. This pending decision marks a crucial moment for VANDA as it seeks to broaden the therapeutic options for individuals battling this challenging mental health condition.

Legend Biotech Corporation (LEGN) anticipates the FDA decision on expanding the use of Carvykti for earlier treatment of patients with relapsed or refractory multiple myeloma, slated for April 5, 2024. This pending decision holds significant promise for patients and the company alike, as it seeks to enhance treatment options and improve outcomes for individuals with this challenging hematological malignancy.

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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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