Pre-Market Advantage: Key Stocks to Watch!

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Hello Part-time Trader…👋

Stocks were down in pre market trading on Tuesday, following yesterday's record high for the Nasdaq and gains for other major indexes. This surge was primarily driven by large technology companies.

However, economic data released Monday painted a different picture. The ISM manufacturing index unexpectedly fell to a 4-month low, indicating a slowdown in the manufacturing sector. Additionally, construction spending and inflation gauges came in weaker than expected.

With the election looming, investors are increasingly worried about the fiscal outlook, as Jim Reid from Deutsche Bank points out. However, Kathleen Brooks of XTB suggests these concerns might be easing slightly.

All eyes will be on Fed Chair Jerome Powell's speech at the ECB forum today. Investors are hoping for any hints about the future of interest rates.

Happening Today

✓ 09:30 AM ET – Fed Chair Powell Speaks

10:00 AM ET – JOLTs Job Openings (May)

✓ 04:30 PM ET – API Weekly Crude Oil Stock


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PREMARKET SNAPSHOT 📈

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

S&P500

$5511.25

 ⬇️ 0.41%

Dow

$39373.00

  ⬇️ 0.35%

NASDAQ 

$19956.25

  ⬇️ 0.48%

SECTOR SNAPSHOT 

Market gains led by Information Technology and Consumer Discretionary, while Materials and Industrials see notable declines.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,503.07

+0.73% 🟢

Consumer Staples

814.34

-0.67% 🔴

Energy

698.36

+0.02% 🟢

Financials

685.76

+0.22% 🟢

Health Care

1,690.81

-0.56% 🔴

Industrials

1,020.62

-1.10% 🔴

Materials

547.90

-1.55% 🔴

Real Estate

238.78

-0.99% 🔴

Information Technology

4,397.51

+1.30% 🟢

Communication Services

310.49

+0.10% 🟢

Utilities

343.95

-0.69% 🔴


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PreMarket Unusual Volume Stocks

📈 Versus Systems Inc (VS): Versus Systems Inc, operating in the Technology sector within the Software - Application industry, saw a significant trading volume of 7,297,877, well above its usual activity. The stock price surged to $2.28, reflecting a 72.73% increase.

📈 Roadzen Inc (RDZN): Roadzen Inc, also in the Technology sector and Software - Application industry, experienced a trading volume of 3,549,811. This increased volume accompanied a price rise to $2.59, marking a 59.94% increase.

📈 NeuroSense Therapeutics Ltd (NRSN): NeuroSense Therapeutics Ltd, in the Healthcare sector and Biotechnology industry, saw a volume of 329,448. The stock price increased to $1.11, a 2.78% change.

📈 Chicken Soup for the Soul Entertainment Inc (CSSE): Chicken Soup for the Soul Entertainment Inc, in the Communication Services sector within the Entertainment industry, experienced a volume surge to 9,546,420. The stock price rose by 13.62%, reaching $0.13.

📈 Trinity Place Holdings Inc (TPHS): Trinity Place Holdings Inc, operating in the Real Estate sector and Real Estate - Development industry, had a trading volume of 9,930,674. The stock price increased by 9.20%, reaching $0.13.


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Premarket Picks

Infobird Co., Ltd (IFBD) saw a significant pre-market surge of 15.25%, bringing its share price to $3.40 after submitting a 6-K form to the SEC.

Aspira Women's Health Inc. (AWH) experienced a 15.15% increase in pre-market trading, pushing its share price to $1.14. This rise came on the heels of a $1.935 million private placement equity financing announcement.

Vicinity Motor Corp. (VEV) recorded a 17.57% gain in pre-market activity, with its share price reaching $0.62 following the filing of a 6-K form with the SEC.

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

Pre Market Gainers

Pre Market Change

Pre Market Volume

TPHS

+12.81%

9.55M

CSSE

+22.38%

7.64M

RDZN

+64.81%

2.59M

VS

+45.45%

2.41M

LAES

+7.58%

1.37M

AMWL

+2.12%

547.02K

MMV

+4.95%

210.76K

ZAPP

+17.89%

180.17K

MBIO

+2.37%

170.84K

CEI

+4.00%

150.02K


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Important FDA 

Recently Announced

On June 26, 2024, Verona Pharma plc (VRNA) celebrated the FDA approval of its drug Ensifentrine, which will be marketed under the brand name Ohtuvayre. This marks a significant milestone for the company as Ensifentrine is approved for the maintenance treatment of chronic obstructive pulmonary disease (COPD) in adults.

Merck & Co Inc. (MRK) received a Complete Response Letter (CRL) from the FDA on June 26, 2024, for Patritumab deruxtecan (HER3-DXd). The CRL was due to inspection findings at a third-party manufacturer, affecting the drug's application for use in patients with previously treated locally advanced or metastatic EGFR-mutated non-small cell lung cancer.

On the same day, AbbVie (ABBV) announced that the FDA approved its drug Epcoritamab-bysp for expanded use in adult patients with relapsed or refractory (R/R) follicular lymphoma (FL) after two or more lines of systemic therapy. This approval provides a new therapeutic option for this patient group.

Likewise, GENMAB A/S (GMAB) received FDA accelerated approval on June 26, 2024, for Epcoritamab-bysp to treat relapsed or refractory follicular lymphoma (FL) in adult patients after two or more lines of systemic therapy, thereby enhancing GENMAB’s oncology portfolio.

Rocket Pharmaceuticals, Inc. (RCKT) encountered a delay on June 28, 2024, when the FDA issued a Complete Response Letter for KRESLADI (RP-L201). Intended for the treatment of severe Leukocyte Adhesion Deficiency-I, the CRL has postponed the drug's approval, requiring the company to address the FDA's concerns.


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Upcoming Announcements

On July 7, 2024, Arcutis Biotherapeutics Inc. (ARQT) anticipates a crucial FDA decision regarding their supplemental New Drug Application (sNDA) for Roflumilast Cream 0.15%. This cream is intended to treat atopic dermatitis in adults and children as young as six years old. Approval of this treatment could provide a new option for managing this common and often challenging skin condition.

Phathom Pharmaceuticals Inc. (PHAT) is expecting an important FDA decision on July 19, 2024, for their New Drug Application (NDA) for VOQUEZNA (vonoprazan) Tablets. These tablets are designed to treat heartburn associated with non-erosive gastroesophageal reflux disease (GERD). If approved, VOQUEZNA could offer a new therapeutic alternative for patients suffering from this prevalent digestive disorder.

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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