Pre-Market Focus: Today’s Top Profit Plays!

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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.

Happening Today

✓ 08:30 AM ET – NY Empire State Manufacturing Index (Jun)

11:30 AM ET – 3 & 6 Month Bill Auction

✓ 12:00 PM ET – FOMC Member Williams Speaks

✓ 01:00 PM ET – FOMC Member Harker Spea


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PREMARKET SNAPSHOT 📈

Market futures show a mixed trend, with the S&P 500 down 0.06%, the Dow falling 0.16%, and the NASDAQ rising 0.14%.

S&P500

$5434.25

 ⬇️ -0.06%

Dow

$38543.00

 ⬇️ -0.16%

NASDAQ 

$19714.00

  ⬆️ 0.14%

SECTOR SNAPSHOT 

Market downturn led by Industrials and Materials, with Information Technology and Communication Services showing gains.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,449.13

-0.66% 🔴

Consumer Staples

818.05

+0.01% 🟢

Energy

667.58

-0.83% 🔴

Financials

674.29

-0.29% 🔴

Health Care

1,696.64

-0.11% 🔴

Industrials

1,022.35

-1.03% 🔴

Materials

558.52

-0.94% 🔴

Real Estate

240.29

-0.16% 🔴

Information Technology

4,389.32

+0.51% 🟢

Communication Services

303.99

+0.56% 🟢

Utilities

352.79

-0.26% 🔴


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Unusual Volume Stocks

📈 Nauticus Robotics Inc (KITT) jumped 19.63% to $0.19 on a whopping 161.89 million shares traded following the filing of 8-K form with the SEC.

📈 Investors went wild, sending Longeveron Inc (LGVN) stock soaring 18.59% to $3.19 on a massive volume of 96.0 million shares.

📈 Abnormal activity shook Kaival Brands Innovations Group Inc (KAVL), pushing it up 338.24% to $5.96 on a whopping 70.48 million shares traded. This increase followed news that the company announced a $5 million offering of 3,012,048 units at $1.66 per unit.

📈 Vaxart Inc (VXRT) stock recently closed -23.67% lower at $0.57 on a substantial volume of 63.16 million shares. This unusual activity came after the company announced $40 million underwritten offering of common stock.

📈 FOXO Technologies Inc (FOXO) increased by 20.97% in a single trading session, with an abnormally high trading volume of 49.47 million shares despite receiving a delisting notice from the NYSE due to unpaid listing fees. The company has until June 7th to settle the outstanding balance.


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Premarket Picks

Scinai Immunotherapeutics Ltd. (SCNI) saw its share price soar by 85.13% to $6.46 after receiving a Letter of Intent from the European Investment Bank, outlining specific terms for converting its loan into equity.

Maxeon Solar Technologies, Ltd. (MAXN) experienced a 13.65% rise in its stock price to $1.54 in pre-market trading, following the announcement that it has bolstered its technology leadership with new results showcasing the resilience of its Maxeon Interdigitated Back Contact (IBC) panels against damaging hotspots.

The Aaron's Company, Inc. (AAN) saw a 30.50% increase in its pre-market price to $9.84, driven by the news that it has signed a definitive agreement to be acquired by IQVentures Holdings, LLC, a leading fintech firm, for $10.10 per share in cash, valuing the enterprise at approximately $504 million.

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

Pre Market Gainers

Pre Market Change

Pre Market Volume

NDRA

+35.91%

32.43M

CRKN

+4.62%

2.49M

KA

+13.11%

2.44M

MAXN

+21.77%

1.32M

FFIE

+3.61%

393.45K

EMKR

+11.32%

302.16K

FRGT

+5.64%

167.08K

GOEV

+8.33%

157.60K

AEMD

+2.45%

133.85K

GDHG

+4.44%

100.84K


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Important FDA 

Recently Announced

In a win for Eli Lilly And Co. (LLY), an FDA panel unanimously recommended approval of Donanemab for the treatment of early symptomatic Alzheimer's disease on June 10th, 2024. This is a promising development for both the company and Alzheimer's patients.

Genfit S.A. (GNFT) also received positive news on June 11th, 2024. Their drug Elafibranor was granted accelerated approval by the FDA for the treatment of Primary Biliary Cholangitis (PBC).

Bristol-Myers Squibb (BMY) can celebrate FDA approval for an expanded use of their drug Augtyro. On June 13th, 2024, the FDA approved Augtyro for the treatment of patients with NTRK-positive locally advanced or metastatic solid tumors.

Announcing Today

Announcement of a potential new medication to prevent pneumococcal diseases in adults. Today, the FDA is expected to announce their decision on V116, a drug developed by Merck & Co Inc. (MRK) and Ligand Pharmaceuticals Inc (LGND), to help prevent invasive pneumococcal disease and pneumococcal pneumonia in adults.


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Upcoming Announcements

On June 21, 2024, Merck & Co Inc. (MRK) is anticipating a critical decision from the FDA regarding its supplemental Biologics License Application (sBLA) for KEYTRUDA. This decision pertains to the use of KEYTRUDA in combination with chemotherapy for the treatment of patients with primary advanced or recurrent endometrial carcinoma.

argenx SE (ARGX) is also expecting an important FDA decision on June 21, 2024. The company has submitted a supplemental Biologics License Application (sBLA) for VYVGART Hytrulo, seeking its expanded use for the treatment of Chronic Inflammatory Demyelinating Polyneuropathy (CIDP).

Sarepta Therapeutics (SRPT) is awaiting an FDA decision on June 21, 2024, concerning its Biologics License Application (BLA) for ELEVIDYS. The company is seeking to convert the current accelerated approval status of ELEVIDYS to traditional approval

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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