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Level Up Your Trading: Pre-Market Intel for Smarter Plays
Noor Saba
May 17, 2024
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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 – US Leading Index (MoM) (Apr)
✓ 10:15 AM ET – Fed Waller Speaks
✓ 12:15 PM ET – FOMC Member Daly Speaks
✓ 01:00 PM ET – U.S. Baker Hughes Oil Rig Count
✓ 08:30 PM ET – U.S. Baker Hughes Total Rig Count
PREMARKET SNAPSHOT 📈
Stock Futures dip slightly ahead of market open, with S&P 500 leading the decline at -0.2082%.
S&P500$5297.1 ⬇️ -0.20% | Dow$39869.38 ⬇️ -0.09% | NASDAQ$18557.965 ⬇️ -0.20% |
SECTOR SNAPSHOT ✨
Most sectors are down today, with Industrials leading the decline at -0.77%.
NAME | %CHANGE |
|---|---|
Consumer Discretionary | +0.28% 🟢 |
Consumer Staples | -0.73% 🔴 |
Energy | -0.39% 🔴 |
Financials | -0.14% 🔴 |
Health Care | -0.15% 🔴 |
Industrials | -0.77% 🔴 |
Materials | -0.47% 🔴 |
Real Estate | -0.15% 🔴 |
Information Technology | -0.28% 🔴 |
Communication Services | -0.19% 🔴 |
Utilities | -0.31% 🔴 |
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Unusual Volume
📈 Greenwave Technology Solutions Inc (GWAV) jumped 147.66% to $0.15 on a whopping 1.93 billion shares traded after it filed 8-K form with the SEC.
📈 Investors went wild, sending Faraday Future Intelligent Electric Inc (FFIE) stock soaring 134.04% to $1.65 on a massive volume of 1.14 billion shares. This little-known penny stock looks like the next short squeeze.
📈 Abnormal activity shook Pineapple Energy Inc (PEGY), pushing it up 70.31% to $0.15 on a whopping 472.42 million shares traded following the filing of PRE 14A form with the SEC.
📈 SINTX Technologies Inc (SINT) stock recently closed 9.72% upper at $0.14 on substantial volume of 381.69 million shares.
📈 Cyngn Inc (CYN) increase by 46.85% in a single trading session, with abnormally high trading volume of 353.49 million shares. The company shared several commercial and technological accomplishments from the first quarter of 2024.
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Premarket Movers
Akanda Corp. (AKAN) experiences a substantial 160.37% surge in pre-market trading. The company announced that it has received a deficiency notification letter from the Nasdaq Listing Qualifications Department on May 14, 2024.
Scorpius Holdings, Inc. (SCPX) sees a significant 29.87% increase, reaching a pre-market price of $0.13 following the closure of public offering.
Nuburu, Inc. (BURU) demonstrates a noteworthy 170.61% surge, with a pre-market price of $0.38 after announcing that it has received a purchase order for its BlueScan solution from Blueacre Technology, a medical device manufacturer based in Dundalk, Ireland.
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
AKAN | +160.37% | 49.15M |
KXIN | +81.82% | 18.15M |
BRSH | +46.50% | 13.60M |
NBY | +38.25% | 11.48M |
SCPX | +29.87% | 7.72M |
AGRI | +31.30% | 5.31M |
VHAI | +33.00% | 4.79M |
HOLO | +9.42% | 3.07M |
BURU | +170.61% | 2.31M |
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Important FDA
Recently Announced
On May 14th, Dynavax Technologies Corp (DVAX) received feedback from the FDA regarding their hepatitis B vaccine HEPLISAV-B. The FDA is requesting additional information before expanding the vaccine's use to include adults undergoing hemodialysis treatment.
Day One Biopharmaceuticals (DAWN) is celebrating a major victory with the FDA approval of their drug Tovorafenib, now marketed under the brand name OJEMDA. This medication offers new hope for children battling a specific type of brain tumor: relapsed or progressive pediatric low-grade glioma.
X Pharmaceuticals (XFOR) can join the party as their drug Mavorixafor, commercially known as XOLREMDI, has been approved by the FDA. This medication provides a groundbreaking approach to treating WHIM syndrome, a rare and complex condition affecting individuals twelve years of age and older.
Neurocrine Biosciences Inc (NBIX) has expanded access to their existing medication Ingrezza. The FDA recently approved a new sprinkle formulation, making it easier for adults with tardive dyskinesia and chorea associated with Huntington's disease to take their medication.
Upcoming Announcements
Investors in Bristol-Myers Squibb Co. (BMY) should hold their breath until May 23rd, 2024. The Food and Drug Administration (FDA) is set to announce its decision on Breyanzi, a treatment offered by the company for patients battling relapsed or refractory follicular lymphoma.
Novo Nordisk A/S (NVO) is also waiting on the FDA, but for a different kind of decision. A panel of experts will convene on May 24th to review Awiqli (Insulin Icodec), the company's treatment for adult diabetes.
🎁 Looking for More? Check out these complementary newsletters for diverse perspectives:
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Happy investing,
Maeve Grace
Editor In Chief
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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