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This Pre-Market Intel Could Explode Your Portfolio
Noor Saba
May 24, 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.
Now, let's dive into today's edition for a closer look at the insights and analysis that will shape your trading decisions.
Missed out on Ring and Nest? Don’t let RYSE slip away!
Ring 一 Acquired by Amazon for $1.2B
Nest 一 Acquired by Google for $3.2B
If you missed out on these spectacular early investments in the Smart Home space, here’s your chance to grab hold of the next one.
RYSE is a tech firm poised to dominate the Smart Shades market (growing at an astonishing 55% annually), and their public offering of shares priced at just $1.50 has opened.
They have generated over 20X growth in share price for early shareholders, with significant upside remaining as they just launched in over 100 Best Buy stores.
Retail distribution was the main driver behind the acquisitions of both Ring and Nest, and their exclusive deal with Best Buy puts them in pole position to dominate this burgeoning industry.
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Happening Today
✓ 08:30 AM ET – Durable Goods Orders (MoM) (Apr)
✓ 08:30 AM ET – Core Durable Goods Orders (MoM) (Apr)
✓ 09:35 AM ET – Fed Waller Speaks
✓ 10:00 AM ET – Michigan 1-Year Inflation Expectations (May)
✓ 10:00 AM ET – Michigan 5-Year Inflation Expectations (May)
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PREMARKET SNAPSHOT 📈
Stock futures point to a weak open with the Dow Jones leading the decline by over 1.5%.
S&P500$5267.84 ⬇️ -0.73% | Dow$39065.26 ⬇️ -1.52% | NASDAQ$18623.387 ⬇️ -0.43% |
SECTOR SNAPSHOT ✨
Market dips today, most sectors down with Real Estate hardest hit. Only bright spot is tech, up slightly..
NAME | PRICE | %CHANGE |
|---|---|---|
Consumer Discretionary | 1,417.34 | -1.52% 🔴 |
Consumer Staples | 821.55 | -1.20% 🔴 |
Energy | 693 | -1.02% 🔴 |
Financials | 686.24 | -1.51% 🔴 |
Health Care | 1,686.03 | -1.08% 🔴 |
Industrials | 1,046.02 | -1.22% 🔴 |
Materials | 569.80 | -0.88% 🔴 |
Real Estate | 233.75 | -2.16% 🔴 |
Information Technology | 3,986.10 | +0.56% 🟢 |
Communication Services | 294.24 | -1.15% 🔴 |
Utilities | 358.05 | -1.70% 🔴 |
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Unusual Volume
📈 Ascent Solar Technologies Inc (ASTI) jumped 63.39% to $0.21 on a whopping 659.15 million shares traded after filing the 8-K form with the SEC.
📈 Investors went wild, sending Pineapple Energy Inc (PEGY) stock soaring 61.44% to $0.24 on a massive volume of 447.37 million shares after the company filed 8-K form with the SEC.
📈 Abnormal activity shook OneMedNet Corp. (ONMD), pushing it up 200.00% to $1.47 on a whopping 189.94 million shares traded after announcing a greater than five (5)-fold expansion of its proprietary iRWD™ network and platform.
📈 Zoomcar Holdings Inc. (ZCAR) stock recently closed 22.38% upper at $0.26 on substantial volume of 113.79 million shares.
📈 Vocodia Holdings Corp (VHAI) increase by 4.74% in a single trading session, with abnormally high trading volume of 65.43 million shares.
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Premarket Movers
Blue Star Foods Corp. (BSFC) experiences a substantial 16.33% surge in pre-market trading after reporting a 19% growth, reaching $2.3 million in revenue for the first quarter ended March 31, 2024.
Netcapital Inc. (NCPL) sees a significant 68.08% increase, reaching a pre-market price of $0.2 following the release financial results for first quarter fiscal 2025.
Nuburu, Inc. (BURU) demonstrates a noteworthy 13.19% surge, with a pre-market price of $0.14.
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
NCPL | +68.08% | 34.11M |
BURU | +13.19% | 9.78M |
LUCY | +23.87% | 9.53M |
KITT | +4.57% | 3.76M |
FFIE | +9.24% | 2.21M |
AKAN | +102.09% | 1.99M |
STSS | +11.31% | 1.88M |
CYN | +8.03% | 1.35M |
BSFC | +23.11% | 880.35K |
SCPX | +4.61% | 734.54K |
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Important FDA
Recently Announced
The FDA has been active recently, providing a mix of outcomes for biotech companies seeking approval. On May 16th, Bristol-Myers Squibb (BMY) achieved a significant milestone with the expanded approval of Breyanzi. This drug can now be used to treat relapsed or refractory follicular lymphoma, adding a valuable tool in the battle against this cancer.
However, Dynavax Technologies (DVAX) faced a setback on May 14th. Their application for HEPLISAV-B, a vaccine intended for adults undergoing hemodialysis, was stalled as the FDA requested additional information before proceeding with approval.
There was good news for Day One Therapeutics (DAWN), which received FDA approval for Tovorafenib, to be marketed as OJEMDA. This medication offers new hope for children suffering from relapsed or progressive pediatric low-grade glioma, a specific type of brain tumor.
X Pharmaceuticals (XFOR) also celebrated a favorable FDA decision. They obtained approval for XOLREMDI (Mavorixafor), a drug that marks a significant advancement in treating WHIM syndrome, a rare and complex condition affecting individuals twelve years and older.
Announcing Today
Novo Nordisk A/S (NVO) recently announced that an FDA panel will review its drug Awiqli (Insulin Icodec) for treating adult diabetes today. The review's outcome is still pending, marking a crucial step for Novo Nordisk in advancing its diabetes treatment offerings.
Upcoming Announcements
Attention then shifts to Bristol-Myers Squibb (BMY) on May 31st. Just a week after the Awiqli review, the FDA will issue a critical decision on Breyanzi, a treatment currently approved for a specific type of lymphoma. A positive outcome could greatly expand Breyanzi's use, potentially benefiting a much larger patient population.
🎁 Looking for More? Check out these complementary newsletters for diverse perspectives:
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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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