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 – Core CPI (MoM) (YoY) (May)

✓ 10:30 AM ET – Crude Oil Inventories

✓ 10:30 PM ET – Distillate Fuel Production

✓ 02:00 PM ET – Federal Budget Balance (May)

✓ 02:00 PM ET – Interest Rate Projection - 1st Yr (Q2)

PREMARKET SNAPSHOT 📈

The S&P 500 rose by 0.27%, the Dow fell by 0.31%, and the NASDAQ saw a notable increase of 0.71%.

SECTOR SNAPSHOT ✨

Broad market gains led by Utilities and Energy, while Consumer Staples and Financials lag behind.

PreMarket Unusual Volume Stocks

📈 Singing Machine Co., Inc. (MICS): Exhibited a trading volume of 2.15 million shares, compared to its average volume of 13.42 million shares. The stock closed at $2.09, marking an increase of 11.17%.

📈 Surf Air Mobility Inc (SRFM): Experienced a trading volume of 6.18 million shares, compared to its average volume of 25.37 million shares. The stock price stood at $0.30, reflecting an increase of 9.64%.

📈 WANG & LEE Group Inc (WLGS): Recorded a trading volume of 3.48 million shares, compared to its average volume of 13.25 million shares. The stock price rose to $0.88, achieving a gain of 39.59%.

📈 Golden Heaven Group Holdings Ltd (GDHG): Saw a trading volume of 24.18 million shares, compared to its average volume of 11.46 million shares. The stock price surged to $0.27, with a significant increase of 53.41%.

📈 Chanson International Holding (CHSN): Reported a trading volume of 0.24 million shares against its average volume of 24.53 million shares. The stock closed at $1.98, experiencing a decline of 18.69%.

Premarket Picks

Cyngn Inc. (CYN) is making waves this morning, trading at $0.1139 in pre-market, up 18.42% at 7:32 AM EDT. The surge comes after the company announced significant progress on its proprietary computer vision (CV) technology for industrial autonomous machines, powered by NVIDIA accelerated computing.

The Singing Machine Company, Inc. (MICS) is also on the rise, trading at $2.1600 in pre-market, up 13.09%. The boost follows their announcement of a definitive agreement to acquire SemiCab, Inc., an AI technology company specializing in optimizing freight for Fortune 1000 clients in the US and Indian markets.

Beamr Imaging Ltd. (BMR) is trading at $5.4700 in pre-market, up 24.32% at 7:45 AM EDT. The increase comes after Beamr announced that its Beamr Cloud solution has achieved Powered by Expertise status and is now available in the Oracle Cloud Marketplace.

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

Important FDA 

Recently Announced

The FDA has been particularly active in recent weeks, delivering a mix of outcomes for biotech companies seeking approval for their innovative treatments.

Ipsen SA (IPSEY) & Genfit S.A. (GNFT) On June 11, 2024, both Ipsen SA and Genfit S.A. received significant news as the FDA approved Elafibranor, under the brand name Iqirvo, for the treatment of Primary Biliary Cholangitis (PBC). Ipsen SA's Elafibranor was approved for second-line treatment, while Genfit S.A. received accelerated approval for the same indication.

Eli Lilly and Co. (LLY) On June 10, 2024, an FDA panel unanimously recommended the approval of Donanemab for the treatment of early symptomatic Alzheimer’s disease. This recommendation marks a crucial step towards offering new hope for patients and families affected by this debilitating condition.

Announcing Today

Amgen Inc. (AMGN) Amgen is anticipating an FDA decision today, June 12, 2024, regarding Tarlatamab for the treatment of adult patients with advanced small cell lung cancer with disease progression on or after platinum-based chemotherapy. This decision could further solidify Tarlatamab's role as a pioneering therapy in this field.

Upcoming Announcements

Zai Lab Limited (ZLAB) & Bristol-Myers Squibb Co. (BMY) Both Zai Lab Limited and Bristol-Myers Squibb are awaiting an FDA decision on June 15, 2024, regarding the expanded use of Augtyro for the treatment of patients with NTRK-positive locally advanced or metastatic solid tumors. This decision could significantly enhance treatment options for patients with these specific cancer types.

Geron Corporation (GERN) Geron Corporation is anticipating an FDA decision on June 16, 2024, regarding Imetelstat for the treatment of transfusion-dependent anemia in patients with lower-risk myelodysplastic syndromes. This approval could provide a new therapeutic option for patients suffering from this condition.

Stay tuned for further updates as we continue to track these important FDA decisions and their implications for the biotech industry.

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.