TipRanks has compiled a list of Wednesday’s biggest pre-market stock movements.
Today’s stock market appears to be influenced by negative sentiment toward energy stocks. Stocks plunged in the pre-market trading session as international crude oil prices dropped on fears of an impending recession in the global economy, aggressive tightening of monetary policy by central banks, and expected soft demand for the commodity. Furthermore, ongoing COVID-related lockdowns in some parts of China led to a decline in prices.
Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
Five Biggest Movers
Coinbase Global, Inc. (COIN), an operator of a cryptocurrency exchange platform, was the biggest laggard in pre-market trading, recording losses of 7.86% at the last check, after jumping 12.24% at yesterday’s close. Investor anxiety followed Mizuho (MFG) Securities analyst Dan Dolev’s report. Dolev said, “We encourage investors to tame expectations, as the rise in volumes during early June appears to be fading … COIN is still tracking 10-15% below 2Q consensus and ~30% below 1Q levels.”
ArcelorMittal S.A. (MT) lost 6.75% in pre-market trading at the time of writing. The world’s largest steel manufacturer and mining company offers a suite of steel products for industries such as the automotive, engineering, construction, and energy businesses.
China-based oil and gas company PetroChina Company Limited (PTR) recorded losses of 6.68% in pre-market trading at the last check.
PBF Energy Inc. (PBF), a refiner and supplier of petroleum products, plunged 5.22% in pre-market trading at the time of writing, after closing more than 8% higher on Tuesday.
Peabody Energy Corporation (BTU) completes the list. The coal mining company tanked 5% in pre-market trading at last glance, after surging 7.71% at Tuesday’s close.
Continue to watch this space for possible volatility upon the market open. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers.
