Happy Christmas, Traders!…👋

U.S. equity futures are moving higher early Tuesday as investors prepare to wrap up an exceptional year for domestic stocks.

Treasury yields are holding steady after Monday’s sharp pullback, the largest decline in five weeks, as markets adjust positions and portfolios ahead of the final trading day of 2024. Stocks ended sharply lower on Monday, with the S&P 500 retreating 1.06%.

The bond market saw yields drop significantly, but profit-taking and caution around upcoming uncertainties in rates, policy, and economic performance under a new U.S. government weighed on equities.

Despite the dip, the S&P 500 remains on track for an impressive 25.2% annual gain, its best performance since 2021. However, replicating this stellar run could prove challenging in the year ahead.

PREMARKET SNAPSHOT 📈

Market futures are up, with the S&P 500, Dow, and NASDAQ all showing gains.

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SECTOR SNAPSHOT✨

Yesterday markets experienced widespread declines as every sector closed lower. Consumer discretionary and staples suffered notable losses, reflecting weakened consumer sentiment. Technology and communication services followed suit, with financials and industrials also posting significant declines. Energy remained relatively flat, while health care, materials, and utilities continued the downward trend. Real estate saw modest losses amid the overall bearish sentiment.

PreMarket Unusual Volume Stocks

📈 VerifyMe Inc (VRME) witnessed a remarkable surge of 205.10%, with its stock price closing at 2.41. The trading volume reached 22,013,329 shares, vastly exceeding its average volume of 121.30.

📈 Onconetix Inc (ONCO) experienced significant growth of 112.22%, closing at 0.93. The trading volume was 14,573,265 shares, far higher than its average volume of 319.64.

📈 Blue Hat Interactive Entertainment Technology (BHAT) gained 84.47%, with its stock price settling at 0.23. The trading volume soared to 73,359,573 shares, well above its average volume of 2,090.23.

📈 Aptorum Group Ltd (APM) showed an impressive increase of 117.71%, closing at 2.95. The trading volume reached 4,119,448 shares, surpassing its average volume of 119.49.

📈 Actelis Networks Inc (ASNS) recorded a gain of 36.92%, ending the day at 1.78. The trading volume was 6,920,295 shares, significantly higher than its average volume of 265.18.

Premarket Picks

Eyenovia, Inc. (EYEN) saw a significant surge in its pre-market price, rising 123.65% to reach $0.25. This sharp increase follows the company’s filing of an 8-K form with the SEC, triggering positive investor reactions.

Verastem, Inc. (VSTM) also experienced a notable pre-market rise, up 37.06% with its price climbing to $5.03. The surge comes after the FDA accepted the New Drug Application (NDA) for avutometinib in combination with defactinib. This treatment targets adults with recurrent low-grade serous ovarian cancer and a KRAS mutation, particularly after at least one prior treatment.

Mullen Automotive, Inc. (MULN) saw a pre-market increase of 44.54%, reaching a price of $1.59. This surge was driven by the news that Mullen has secured a purchase order for two Class 3 EV trucks, the Mullen THREE, from Westland Floral.

Cyngn Inc. (CYN) experienced a pre-market gain of 24.65%, with its price rising to $1.01. The jump followed the company's announcement of a $9.0 million registered direct offering, priced at-the-market, which has boosted investor confidence.

Below is a complete list of hot stocks in pre-market today:

Top Upgrades:

1. Citius Pharmaceuticals, Inc. (CTXR)

Analyst Firm: D. Boral Capital
Upgraded: Hold to Buy
Price Target: $9
Yesterday's Close: $3.91

D. Boral Capital has increased its rating on Citius Pharmaceuticals (CTXR) to Buy from Hold, setting a price target of $9.

Citius Pharmaceuticals, a biopharmaceutical company specializing in critical care products, has a stock price target range of $9.00 to $200.00. The median target is $100.00, with the average price estimate at $103.

2. Glaukos Corporation (GKOS)

Analyst Firm: Stifel
Reiterated: Buy
Price Target: $175
Yesterday's Close: $149.51

Stifel analyst Thomas Stephan has raised the price target for Glaukos to $175, up from $153, while maintaining a Buy rating on the stock.

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company focused on novel therapies for glaucoma, corneal disorders, and retinal diseases, has a stock price target between $120.00 and $185.00. The median target stands at $160.00, with an average of $156.69.

3. Pinnacle Financial Partners, Inc. (PNFP)

Analyst Firm: Citi
Reiterated: Buy
Price Target: $132
Yesterday's Close: $113.75

Citi has raised its price target for Pinnacle Financial to $132, up from $123, and continues to hold a Buy rating on the stock.

Pinnacle Financial Partners, a bank holding company for Pinnacle Bank providing a variety of banking products and services, has a stock price target range of $120.00 to $142.00. The median target is $134.00, and the average estimate is $131.20.

Happy investing,

Maeve Grace
Editor In Chief
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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.