Hello Part-time Trader…👋

Premium Stock Alerts is here with your pre-market cheat sheet. 🚀 Unusual movers, 🎞️ market snapshot, and 💥 crucial news – we've got it all!

Happening Today

✓ 12:30 PM ET – Atlanta Fed GDPNow (Q1)

✓ 13:30 PM ET – 20-Year Bond Auction

✓ 16:00 PM ET – TIC Net Long-Term Transactions (Jan)

Daily Quote

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price. - Warren Buffett

PREMARKET SNAPSHOT 📈

US stock indices open positive, with the NASDAQ surging 0.82%, followed by the S&P 500 (0.63%) and the Dow Jones (0.2%).

SECTOR SNAPSHOT ✨

Communication Services jump nearly 3% to lead the market, while Health Care and Real Estate sit out the rally. Consumer Discretionary, Consumer Staples, Energy, Financials, Industrials, and Utilities all see moderate gains.

Unusual Volume

📈 Fisker Inc (FSR) declined -15.57% to $0.15 on a whopping 291.82 million shares traded after announcing that it will halt electric vehicle production for six weeks and seek $150 million through convertible notes to address cash flow issues and sluggish demand for its cars. 

📈 Investors went wild, sending Verb Technology Company Inc (VERB) stock declining -18.59% to $0.36 on a massive volume of 248.38 million shares. The company announced the addition of 100 new brands to its MARKET.live livestream social shopping platform.

📈 Abnormal activity shook Trinity Place Holdings Inc (TPHS), pushing it up 122.72% to $0.18 on a whopping 141.82 million shares traded after the real estate holding company announced a forbearance agreement update.

📈 Canoo Inc (GOEV) stock recently closed 49.48% upper at $2.90 on substantial volume of 108.38 million shares. This unusual activity came after its Oklahoma City facility received approval as a Foreign Trade Zone (FTZ).

📈 Solidion Technology Inc (STI) increase by 56.32% in a single trading session, with abnormally high trading volume of 90.61 million shares.

Premarket Movers

Important FDA 

Recently Announced

On March 18, 2024, Orchard Therapeutics plc (ORTX) and Kyowa Hakko Kirin Co., Ltd. received a significant boost as the FDA granted approval for their respective gene therapies, OTL-200, under the brand name Lenmeldy, for the treatment of children with metachromatic leukodystrophy.

OptiNose Inc.'s (OPTN) XHANCE nasal spray also secured FDA approval for expanded use in treating adults with chronic rhinosinusitis, providing a new avenue of relief for patients. This approval, disclosed on March 15, 2024.

Upcoming this Week

Merck & Co Inc. (MRK) eagerly awaits the FDA's decision on Sotatercept, a potential treatment for pulmonary arterial hypertension in adult patients. The decision, expected on March 26, 2024, could mark a significant advancement in addressing this challenging medical condition.

Akebia Therapeutics, Inc. (AKBA) is on tenterhooks as it awaits the FDA's verdict on Vadadustat, aimed at treating anemia due to chronic kidney disease in adult patients undergoing dialysis. With the decision date looming on March 27, 2024, Akebia hopes for a positive outcome that could provide new hope for patients grappling with this complication.

Regeneron Pharmaceuticals (REGN) anticipates the FDA's decision on Odronextamab, intended for the treatment of relapsed/refractory follicular lymphoma or diffuse large B-cell lymphoma in adult patients. With the decision date scheduled for March 31, 2024, Regeneron awaits eagerly, as the approval of Odronextamab could signify a significant advancement in the field of oncology.

Happy investing,

Maeve Grace
Editor In Cheif
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.