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Pre-Market Edge: Get a Jump on Profitable Plays!
Noor Saba
May 16, 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.
Looking for visuals and charts, rather than words, to understand the daily news?
Bay Area Times is a visual-based newsletter on business and tech, with 250,000+ subscribers.
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
✓ 08:30 AM ET – Initial Jobless Claims
✓ 08:30 AM ET – Philadelphia Fed Manufacturing Index (May)
✓ 08:30 AM ET – Building Permits (Apr)
✓ 08:30 PM ET – Housing Starts (Apr)
PREMARKET SNAPSHOT 📈
Stock Futures are pointing to a positive open with the NASDAQ 100 leading the way with a gain of nearly 1.5%.
S&P500$5308.15 ⬆️ 1.17% | Dow$39908 ⬆️ 0.88% | NASDAQ$18596.65 ⬆️ 1.49% |
SECTOR SNAPSHOT ✨
Information Technology leads the gainers today with a 2.29% increase, while Consumer Discretionary remains flat.
NAME | PRICE | %CHANGE |
|---|---|---|
Consumer Discretionary | 1,458.87 | UNCH |
Consumer Staples | 824.35 | 0.02% 🟢 |
Energy | 714.93 | 0.15% 🟢 |
Financials | 700.75 | 0.72% 🟢 |
Health Care | 1,702.06 | 1.44% 🟢 |
Industrials | 1,064.67 | 0.63% 🟢 |
Materials | 579.14 | 0.16% 🟢 |
Real Estate | 243.14 | 1.69% 🟢 |
Information Technology | 3,929.19 | 2.29% 🟢 |
Communication Services | 295.88 | 0.91% 🟢 |
Utilities | 367.15 | 1.41% 🟢 |
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Unusual Volume
📈 SINTX Technologies Inc (SINT) jumped 132.00% to $0.13 on a whopping 1.0 billion shares traded.
📈 Investors went wild, sending Greenwave Technology Solutions Inc (GWAV) stock soaring 34.38% to $0.06 on a massive volume of 822.84 million shares.
📈 Abnormal activity shook Crown ElectroKinetics Corp (CRKN), pushing it down -2.94% to $0.05 on a whopping 523.61 million shares traded.
📈 Selina Hospitality PLC. (SLNA) stock recently closed 118.57% upper at $0.12 on substantial volume of 501.74 million shares.
📈 AMC Entertainment Holdings Inc (AMC) decrease by -20.00% in a single trading session, with abnormally high trading volume of 309.6 million shares.
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Premarket Movers
Blue Star Foods Corp. (BSFC) experiences a substantial 25.89% surge in pre-market trading after announcing 1-for-50 reverse stock split.
Cyngn Inc. (CYN) sees a significant 40.21% increase, reaching a pre-market price of $0.12. The company shared several commercial and technological accomplishments from the first quarter of 2024.
AST SpaceMobile, Inc. (ASTS) demonstrates a noteworthy 31.38% surge, with a pre-market price of $3.14 after providing business update and first quarter 2024 results.
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
BSFC | +25.89% | 16.19M |
CYN | +40.21% | 13.22M |
BRSH | +12.40% | 4.49M |
AKAN | +6.92% | 2.52M |
ASTS | +32.64% | 1.77M |
BURU | +17.76% | 1.60M |
ASTI | +14.55% | 1.16M |
GNS | +4.81% | 884.91K |
WMT | +4.46% | 829.47K |
SCPX | +12.74% | 743.15K |
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Important FDA
Recently Announced
Dynavax Technologies Corp (DVAX) received feedback on their drug HEPLISAV-B on May 14th, 2024. The FDA requested additional information for expanding HEPLISAV-B vaccination to include adults undergoing hemodialysis.
Day One Biopharmaceuticals (DAWN) is cheering as their drug Tovorafenib, now under the brand name OJEMDA, secured FDA approval. This medication provides new hope for children battling a specific type of brain tumor: relapsed or progressive pediatric low-grade glioma.
X Pharmaceuticals (XFOR) can also celebrate as their drug Mavorixafor, known commercially as XOLREMDI, received FDA approval. This medication offers a novel approach to treating WHIM syndrome, a rare and challenging condition affecting people twelve years of age and older.
Neurocrine Biosciences Inc (NBIX) has expanded the availability of 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
Bristol-Myers Squibb Co. (BMY) investors should mark their calendars for May 23rd, 2024. That's the date the Food and Drug Administration (FDA) will announce its decision on Breyanzi, a treatment the company offers for patients with relapsed or refractory follicular lymphoma.
Separately, Novo Nordisk A/S (NVO) is also awaiting an FDA decision, but this time from a panel of experts. On May 24th, the panel will convene 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
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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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