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Pre-Market Analysis: Your Guide to Big Gains Today!
Noor Saba
July 25, 2024
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Hello Part-time Trader…👋
The US stock continues to fall in premarket trading Thursday after experiencing its worst day since October 22. U.S. stock futures are fluctuating between gains and losses.
On Wednesday, all three major indexes dropped, led by the Magnificent 7 big-name technology firms that have driven gains for the past two years. Concerns that optimism about artificial intelligence might be overdone, coupled with hopes that the Federal Reserve will soon cut interest rates, are driving a rotation into smaller, non-tech stocks.
Thursday's trading could also be influenced by the release of the first estimate of second-quarter growth.
Ford's second-quarter adjusted earnings missed Wall Street expectations, Tesla's shares continued to decline, IBM posted better-than-expected profits, and ServiceNow's revenue surged by 22%.
Happening Today
✓ 08:30 AM ET – Initial & Continuing Jobless Claims
✓ 08:30 AM ET – Core PCE Prices (Q2)
✓ 08:30 AM ET – Durable Goods Orders (MoM) (Jun)
✓ 08:30 AM ET – GDP (QoQ) (Q2)
✓ 01:00 PM ET – 7-Year Note Auction
✓ 04:30 PM ET – Fed's Balance Sheet
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PREMARKET SNAPSHOT📈
Market futures are showing slight declines, with the S&P 500, Dow, and NASDAQ all down modestly.
S&P500$5465.25 ⬇️ 0.12% | Dow$40106.00 ⬇️ 0.01% | NASDAQ$19165.75 ⬇️ 0.20% |
SECTOR SNAPSHOT✨
The market experienced a turbulent day with significant declines in Information Technology and Consumer Discretionary, reflecting widespread challenges. Communication Services and Industrials also saw notable losses. On the brighter side, Health Care and Utilities posted gains, indicating some defensive positioning by investors. Energy and Consumer Staples managed modest increases, but overall sentiment was largely negative with multiple sectors struggling to maintain their footing.
NAME | PRICE | %CHANGE |
|---|---|---|
Consumer Discretionary | 1,466.33 | -3.89% 🔴 |
Consumer Staples | 833.79 | +0.04% 🟢 |
Energy | 692.10 | +0.22% 🟢 |
Financials | 709.28 | -1.19% 🔴 |
Health Care | 1,746.09 | +0.81% 🟢 |
Industrials | 1,042.61 | -2.17% 🔴 |
Materials | 564.63 | -1.26% 🔴 |
Real Estate | 252.80 | -1.34% 🔴 |
Information Technology | 4,196.09 | -4.14% 🔴 |
Communication Services | 293.37 | -3.76% 🔴 |
Utilities | 361.12 | +1.16% 🟢 |
Some of the greatest opportunities can be found in undervalued stocks.
Often, a stock will become undervalued because of negative events, like the pandemic. Perhaps the company missed earnings, became overlooked, or was hit with downgrades. Or, maybe the stock fell along with its competition.
Here are five of the most exciting, cheap stocks you may want to take a look at today.
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PreMarket Unusual Volume Stocks
📈 Sol-Gel Technologies Ltd (SLGL): Sol-Gel Technologies Ltd experienced a significant increase in trading activity with a volume of 3,014,725, far exceeding its average volume of 36,300. This surge in activity led to a 49.25% price change, reflecting heightened market interest.
📈 Tivic Health Systems Inc (TIVC): Tivic Health Systems Inc saw an extraordinary surge in volume, trading 26,298,448 shares compared to its average of 804,380. This dramatic increase resulted in a 66.67% price change, indicating strong investor activity.
📈 Vs Media Holdings Ltd (VSME): Vs Media Holdings Ltd's trading volume soared to 2,665,169, significantly higher than its average of 138,880. The stock's price change of 10.30% mirrors this spike in trading volume.
📈 Psyence Biomedical Ltd (PBM): Psyence Biomedical Ltd saw its volume rise to 13,752,307, far surpassing its average of 1,037,590. This massive uptick in trading activity resulted in a significant 168.27% price change.
📈 CERo Therapeutics Holdings Inc (CERO): CERo Therapeutics Holdings Inc's volume spiked to 17,345,136, a substantial increase from its average of 2,975,790. The stock's 30.57% price change highlights the impact of the increased trading activity.
Most folks think there has to be a trade off between dividend stocks and growth. But that couldn't be farther from the truth. Take Altria for example. It's the seventh-best-performing stock in the entire market over the past three decades. $10,000 invested in Altria in 1991 with the dividends reinvested, would be worth $10.8 million today! And it pays an 8.5% dividend.
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Premarket Picks
Sol-Gel Technologies (SLGL) stock up over 37% pre-market, topping $0.92 per share after announcing exclusive licensing deals for TWYNEO® and EPSOLAY® in Europe and South Africa.
Psyence Biomedical (PBM) stock nearly triples pre-market, exceeding $1.06 per share. This follows news of exporting natural psilocybin to Australia and an update on their upcoming clinical trial for advanced cancer patients.
MIRA Pharmaceuticals (MIRA) climbs over 25% pre-market, surpassing $2.96 per share. The increase comes after the discovery of Ketamir-2's specific mechanism of action involving NMDA receptors.
Indivior PLC (INDV) rises over 14% pre-market, reaching $12.41 per share. This follows the announcement of a new $100 million share repurchase program.
Below is a list of other hot stocks in pre-market today:
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
TIVC | +88.08% | 22.70M |
CERO | +48.29% | 15.21M |
PBM | +191.26% | 8.91M |
BLMZ | +30.20% | 2.23M |
VSME | +24.84% | 2.07M |
ASNS | +12.32% | 1.16M |
VWE | +8.13% | 624.40K |
TRNR | +2.44% | 294.73K |
GDHG | +3.37% | 290.17K |
CDT | +4.06% | 76.41K |
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Important FDA
Recently Announced
Phathom Pharmaceuticals (PHAT) received a boost on July 18th, 2024, with the FDA's approval of their VOQUEZNA tablets. This opens the door for VOQUEZNA to be used as a treatment for adult heartburn caused by non-erosive GERD.
Positive news also came for Arcutis Biotherapeutics (ARQT) on July 9th, 2024. The FDA greenlit their Roflumilast Cream 0.15%, a topical treatment offering a new approach to managing mild to moderate atopic dermatitis (eczema) for adults and children as young as six. This approval expands treatment options for this chronic skin condition.
Rocket Pharmaceuticals (RCKT), however, encountered a setback on June 28th, 2024. The FDA issued a Complete Response Letter (CRL) for their drug KRESLADI (RP-L201), which was being evaluated as a treatment for Leukocyte Adhesion Deficiency-I, a rare genetic disorder. The CRL indicates that the FDA needs more information or adjustments before approving the treatment.
Announcing Today
AstraZeneca PLC (AZN) is scheduled to have its drug Imfinzi (durvalumab) reviewed by an FDA panel today, July 25th, 2024. The application (sBLA) seeks approval for Imfinzi in combination with chemotherapy as a pre-surgery treatment (neoadjuvant) followed by Imfinzi alone (monotherapy) after surgery. This regimen is intended for adult patients with resectable non-small cell lung cancer.
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Upcoming Announcements
scPharmaceuticals Inc. (SCPH) awaits a verdict on the expansion of FUROSCIX's use to treat patients with the most severe form of heart failure, classified as New York Heart Association Class IV. A positive decision could significantly increase treatment options for this patient population.
Zevra Therapeutics, Inc. (ZVRA) faces a panel review on August 2nd regarding their drug Arimoclomol, a potential treatment for Niemann-Pick disease type C, a rare and progressive genetic disorder. This review holds immense importance for patients and families battling this condition.
Finally, Adaptimmune Therapeutics plc (ADAP) has an FDA decision on August 4th regarding Afami-cel, a potential treatment for advanced synovial sarcoma, an aggressive form of cancer. This decision will determine if Afami-cel can be approved, offering a new weapon in the fight against this disease.
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.
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