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Pre-Market Power Play: Get a Head Start in Your Inbox
Noor Saba
May 21, 2024
You are receiving this newsletter as a subscriber to Premium Stock Alerts
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.
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Happening Today
✓ 08:55 AM ET – Redbook (YoY)
✓ 09:00 AM ET – Fed Waller Speaks
✓ 09:05 AM ET – FOMC Member Williams Speaks
✓ 09:10 AM ET – FOMC Member Bostic Speaks
✓ 11:45 AM ET – Fed Vice Chair for Supervision Barr Speaks
✓ 16:30 PM ET – API Weekly Crude Oil Stock
PREMARKET SNAPSHOT 📈
Stock futures suggest a flat open with NASDAQ 100 up 0.69%.
S&P500$5308.13 ⬆️ 0.09% | Dow$39806.77 ⬇️ -0.49% | NASDAQ$18674.188 ⬆️ 0.69% |
SECTOR SNAPSHOT ✨
Most sectors are down, with Information Technology leading the gainers at 1.32% and Financials leading the losers at -1.21%.
NAME | PRICE | %CHANGE |
|---|---|---|
Consumer Discretionary | 1,444 | -0.72% 🔴 |
Consumer Staples | 828.73 | -0.68% 🔴 |
Energy | 717.03 | -0.64% 🔴 |
Financials | 696.3 | -1.21% 🔴 |
Health Care | 1,697.97 | -0.30% 🔴 |
Industrials | 1,060.80 | +0.17% 🟢 |
Materials | 580.65 | +0.15% 🟢 |
Real Estate | 241.11 | -0.68% 🔴 |
Information Technology | 3,948.82 | +1.32% 🟢 |
Communication Services | 298.30 | +0.34% 🟢 |
Utilities | 365.07 | -0.21% 🔴 |
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Unusual Volume
📈 Faraday Future Intelligent Electric Inc (FFIE) jumped 74.76% to $1.80 on a whopping 688.28 million shares traded.
📈 Investors went wild, sending Greenwave Technology Solutions Inc (GWAV) stock soaring 2.53% to $0.16 on a massive volume of 444.01 million shares.
📈 Abnormal activity shook Pineapple Energy Inc (PEGY), pushing it up 80.27% to $0.19 on a whopping 362.27 million shares traded.
📈 Bruush Oral Care Inc. (BRSH) stock recently closed 34.81% upper at $0.16 on substantial volume of 258.09 million shares.
📈 Scorpius Holdings Inc. (SCPX) increase by 54.59% in a single trading session, with abnormally high trading volume of 184.4 million shares following the announcement of a significant expansion of its operational footprint in San Antonio, Texas, with the opening of its new, state-of-the-art storage and testing facility.
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Premarket Movers
MGO Global, Inc. (MGOL) experiences a substantial 105.25% surge in pre-market trading after filing 10-Q form with the SEC.
Meta Materials Inc. (MMAT) sees a significant 34.78% increase, reaching a pre-market price of $3.10 after announcing an update on the short selling investigation undertaken in June of 2023.
Ault Alliance, Inc. (AULT) demonstrates a noteworthy 39.19% surge, with a pre-market price of $0.54 after reporting its financial results for the first quarter ended March 31, 2024.
Pre Market Gainers | Pre Market Change | Pre Market Volume |
|---|---|---|
AGRI | +44.90% | 35.74M |
MGOL | +105.25% | 18.18M |
MTC | +12.38% | 3.56M |
MMAT | +34.78% | 1.36M |
ASTI | +3.33% | 1.34M |
AULT | +39.19% | 983.52K |
TVGN | +13.67% | 903.20K |
EDBL | +43.16% | 902.46K |
NKLA | +3.23% | 652.50K |
TANH | +6.19% | 386.22K |
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Important FDA
Recently Announced
In a positive development for Bristol-Myers Squibb (BMY), the FDA granted approval for their drug Breyanzi on May 16th, 2024. This approval broadens the use of Breyanzi to treat patients with relapsed or refractory follicular lymphoma. This offers a welcome new option for those battling this particular form of cancer.
Dynavax Technologies (DVAX) received an update on May 14th regarding their application for HEPLISAV-B, a vaccine intended for adults undergoing hemodialysis treatment. Unfortunately, the FDA requires further information before granting approval for the vaccine.
Day One (DAWN) is celebrating a significant achievement with the FDA's approval of Tovorafenib, which will now be marketed under the brand name OJEMDA. This medication brings new hope for children with relapsed or progressive pediatric low-grade glioma, a specific type of brain tumor.
Joining the wave of positive FDA decisions, X Pharmaceuticals (XFOR) is also celebrating the approval of XOLREMDI (Mavorixafor). This medication represents a groundbreaking approach to treating WHIM syndrome, a rare and complex condition affecting individuals twelve years of age and older.
Upcoming Announcements
May 24th marks a crucial date for both investors and those living with diabetes. Novo Nordisk's (NVO) drug, Awiqli, designed specifically to treat adult diabetes, will undergo a review by an FDA panel. The outcome of this review is yet to be determined, but a positive decision could have a significant impact on both the company's future and the lives of many patients struggling with diabetes.
The focus then shifts to Bristol-Myers Squibb (BMY) on May 31st. Just one week after the Awiqli review, the FDA will announce its decision on expanding the use of Breyanzi, a treatment currently targeting a specific type of lymphoma. A positive ruling could broaden the application of Breyanzi, potentially benefiting a wider range of patients.
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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