Pre-Market Surge: Your Guide to Today's Winners!

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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.

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Happening Today

✓ 08:30 AM ET – Average Hourly Earnings (MoM) (May)

08:30 AM ET – Nonfarm Payrolls (May)

✓ 08:30 AM ET – Unemployment Rate (May)

✓ 01:00 PM ET – Atlanta Fed GDPNow (Q2)

✓ 01:00 PM ET – U.S. Baker Hughes Oil Rig Count

✓ 03:00 PM ET – Consumer Credit (Apr)


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PREMARKET SNAPSHOT 📈

The S&P 500 saw a slight dip of 0.02%, the Dow rose by 0.20%, and the NASDAQ edged down by 0.07%.

S&P500

$5352.96

⬇️ -0.02%

Dow

$38886.17

⬆️ 0.20%

NASDAQ

$19021.19

 ⬇️-0.07%

SECTOR SNAPSHOT 

Broad market gains led by Consumer Discretionary and Energy, while Industrials and Utilities see declines.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,451.47

+0.97% 🟢

Consumer Staples

833.01

+0.35% 🟢

Energy

686.66

+0.55% 🟢

Financials

685.65

-

Health Care

1,701.64

+0.33% 🟢

Industrials

1,031.70

-0.60% 🔴

Materials

569.34

+0.08% 🟢

Real Estate

239.53

+0.19% 🟢

Information Technology

4,116.19

-0.47% 🔴

Communication Services

303.81

+0.21% 🟢

Utilities

356.91

-1.03% 🔴


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PreMarket Unusual Volume Stocks

📈 Presto Automation Inc (PRST): Exhibited a trading volume of 9.33 million shares, higher than its average volume of 6.52 million shares. The stock closed at $0.08, marking an increase of 5.67%.

📈 Venus Concept Inc (VERO): Experienced a notable trading volume of 7.64 million shares compared to its average of 0.17 million shares. The stock price stood at $1.29, reflecting a significant increase of 119.87%.

📈 Versus Systems Inc (VS): Recorded an unusual trading volume of 5.30 million shares, well above its average volume of 0.04 million shares. The stock price rose to $2.03, achieving a gain of 23.03%.

📈 BioCardia Inc (BCDA): Saw an exceptional trading volume of 1.76 million shares, compared to its average volume of 0.02 million shares. The stock price surged to $6.62, with a significant increase of 51.66%.

📈 Leafly Holdings Inc (LFLY): Had a trading volume of 0.73 million shares, higher than its average volume of 0.16 million shares. The stock price ended at $2.50, showing an increase of 23.76%..


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Premarket Picks

BioCardia, Inc. (BCDA) is trading at $6.7000 in pre-market, up 53.32% at 8:00 AM EDT after announcing the U.S. Patent Office granted Patent No: 11,986,611 titled “Radial and Transendocardial Delivery Catheter,” with a term expiring in 2036.

Geron Corporation (GERN) is trading at $4.7717 in pre-market, up 22.67% at 8:04 AM EDT after the FDA approved RYTELO™ (imetelstat) for treating adult patients with transfusion-dependent anemia in low- to intermediate-1 risk myelodysplastic syndromes (MDS).

Venus Concept Inc. (VERO) is trading at $1.4499 in pre-market, up 134.23% at 8:09 AM EDT after announcing it has regained compliance with Nasdaq’s minimum equity requirement.

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

Pre Market Gainers

Pre Market Change

Pre Market Volume

FFIE

+15.02%

14.59M

CRKN

+10.53%

9.39M

VERO

+123.28%

4.85M

VS

+41.21%

3.49M

HOLO

+4.57%

3.13M

GERN

+29.31%

1.74M

PEGY

+4.38%

1.44M

SLNA

+3.74%

1.42M

ASTI

+5.22%

1.19M

BURU

+3.69%

474.52K


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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.

AstraZeneca PLC (AZN.L, AZN) On April 6, 2024, AstraZeneca celebrated a significant milestone as the FDA approved Enhertu for the expanded treatment of adult patients with unresectable or metastatic HER2-positive solid tumors. This approval marks a major advancement in the treatment options for these patients, as Enhertu is already approved in other countries for similar uses.

Catalyst Pharmaceutical Partners Inc. (CPRX) On May 30, 2024, Catalyst Pharmaceutical Partners received positive news as the FDA approved the request to increase the indicated maximum daily dosage of Firdapse Tablets from 80mg to 100mg for the treatment of Lambert-Eaton myasthenic syndrome. This approval enhances the treatment options available for patients with this rare neurological disorder.

Bristol-Myers Squibb Co. (BMY) Also on May 30, 2024, Bristol-Myers Squibb received approval from the FDA for the expanded use of Breyanzi for the treatment of relapsed or refractory mantle cell lymphoma. This approval broadens the therapeutic options available for patients battling this aggressive form of cancer.


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Announcing Today

GSK plc (GSK.L, GSK) GSK is anticipating a critical FDA decision today, June 7, 2024. The agency will decide on the extension of the indication for AREXVY, an adjuvanted respiratory syncytial virus (RSV) vaccine, to adults aged 50-59. This decision could potentially expand the protective reach of this vaccine to a broader age group, enhancing public health defenses against RSV.

Upcoming Announcements

Ipsen SA (IPSEY) & Genfit S.A. (GNFT) Ipsen SA and Genfit S.A. are both anticipating an FDA decision on June 10, 2024, regarding Elafibranor, proposed for the second-line treatment of primary biliary cholangitis. This decision is important for advancing treatment options for this chronic liver disease.

Eli Lilly and Co. (LLY) Eli Lilly is also in the spotlight with an upcoming FDA panel review on June 10, 2024, for Donanemab, their treatment for early symptomatic Alzheimer’s disease. This review is a critical step towards providing new hope for patients and families affected by this debilitating condition.

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

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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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