Market Open Prep: Pre-Market Intel to Seize the Day

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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

✓ 08:50 AM ET – FOMC Member Bostic Speaks

✓ 09:00 AM ET – Fed Vice Chair for Supervision Barr Speaks

✓ 09:00 AM ET – Fed Waller Speaks

✓ 02:00 PM ET – FOMC Member Mester Speaks

✓ 07:30 PM ET – FOMC Member Bostic Speaks

PREMARKET SNAPSHOT 📈

Stock futures are pointing towards a positive open today, with the Dow Jones leading the pack with a gain of 0.34%. The S&P 500 is up slightly by 0.12%, while the NASDAQ 100 futures are flat to slightly negative.

S&P500

$5303.27

⬆️ 0.11%

Dow

$40003.59

⬆️ 0.33%

NASDAQ

$18546.23 

⬇️ -0.06%

SECTOR SNAPSHOT 

Bucking the trend, Energy is the biggest winner today, up 1.36%.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,454.92

0.49%

Consumer Staples

834.43

-0.26%

Energy

721.66

1.36%

Financials

704.84

0.61%

Health Care

1,703

0.16%

Industrials

1,059.01

0.12%

Materials

579.79

0.85%

Real Estate

242.76

-0.01%

Information Technology

3,897.20

-0.48%

Communication Services

297.29

0.49%

Utilities

365.85

0.01%


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Unusual Volume

📈 Faraday Future Intelligent Electric Inc (FFIE) declined -37.58% to $1.03 on a whopping 1.26 billion shares traded. The company announced that it is scheduled to have a conference call on its fourth quarter and full year 2023 results after market close on Tuesday, May 28, 2024 at 5:00 p.m. Pacific Time (8:00 p.m. Eastern Time).

📈 Investors went wild, sending Greenwave Technology Solutions Inc (GWAV) stock soaring 4.05% to $0.15 on a massive volume of 1.14 billion shares.

📈 Abnormal activity shook Akanda Corp (AKAN), pushing it up 30.26% to $0.17 on a whopping 552.01 million shares traded after announcing subsequent registered direct offering.

📈 Nuburu Inc (BURU) stock recently closed 51.88% upper at $0.21 on substantial volume of 253.06 million shares. The company recently announced that it has received a purchase order for its BlueScan solution from Blueacre Technology, a medical device manufacturer based in Dundalk, Ireland.

📈 Pineapple Energy Inc (PEGY) decrease by -28.78% in a single trading session, with abnormally high trading volume of 216.26 million shares after announcing CEO transition.


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Premarket Movers

Scorpius Holdings, Inc. (SCPX) experiences a substantial 53.62% surge in pre-market trading after announcing a significant expansion of its operational footprint in San Antonio, Texas, with the opening of its new, state-of-the-art storage and testing facility.

GT Biopharma, Inc. (GTBP) sees a significant 153.21% increase, reaching a pre-market price of $7.90 after reporting Q1 2024 financial results and provided corporate update.

Faraday Future Intelligent Electric Inc. (FFIE) demonstrates a noteworthy 93.20% surge, with a pre-market price of $1.99 after announcing that it is scheduled to have a conference call on its fourth quarter and full year 2023 results after market close on Tuesday, May 28, 2024 at 5:00 p.m. Pacific Time (8:00 p.m. Eastern Time).

Pre Market Gainers

Pre Market Change

Pre Market Volume

HLTH

+20.23%

35.29M

SINT

+16.35%

15.79M

MMV

+128.50%

7.59M

KTRA

+43.15%

7.26M

AGRI

+9.00%

5.92M

SCPX

+53.62%

4.04M

GTBP

+131.41%

3.35M

TANH

+31.20%

2.59M

NBY

+19.81%

2.50M

CEI

+5.76%

2.41M


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Important FDA 

Recently Announced

On May 16th, 2024, Bristol-Myers Squibb (BMY) received FDA approval for their drug Breyanzi. This expands its use to treat patients with relapsed or refractory follicular lymphoma, offering a new option for those battling this type of cancer.

Dynavax Technologies (DVAX) learned on May 14th that the FDA requires more information before approving HEPLISAV-B for use in adults undergoing hemodialysis treatment.

Day One (DAWN) is celebrating FDA approval of Tovorafenib, now called OJEMDA. This medication brings new hope for children with relapsed or progressive pediatric low-grade glioma, a specific type of brain tumor.

X Pharmaceuticals (XFOR) also has reason to celebrate with FDA approval of XOLREMDI (Mavorixafor). This medication provides a groundbreaking approach to treating WHIM syndrome, a rare and complex condition affecting those twelve and older.

Upcoming Announcements

For investors and diabetics alike, May 24th marks an important date on the calendar. Novo Nordisk's (NVO) drug Awiqli, designed to treat adult diabetes, will face an FDA panel review. The outcome of this review is yet to be determined, but a positive decision could significantly impact both the company and the lives of many patients.

Just one week later, on May 31st, the spotlight shifts to Just one week later, on May 31st, the spotlight shifts to Bristol-Myers Squibb (BMY) as the FDA announces its decision on expanding the use of Breyanzi. This treatment currently targets a specific type of lymphoma, and a positive FDA ruling could broaden its application and benefit a wider range of patients.

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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