TipRanks has compiled a list of Monday’s biggest pre-market stock movements.
Negative market sentiment on earnings releases, macro factors, and other variables seem to have dominated today’s stock market. Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
5 Biggest Movers
Koninklijke Philips N.V. (PHG) was the biggest laggard in pre-market trading, and slumped 12.5% in pre-market trading at last watch. The Dutch multinational conglomerate corporation reported first-quarter 2022 results. Though overall sales increased 2.3% year-over-year, the company reported a net loss in the quarter. Comparable sales declined by 4% on the back of global supply chain issues and the Respironics field action outcome. Additionally, adjusted EBITDA faltered by 15.7%.
Private securities marketplace Forge Global Holdings, Inc. (FRGE) plunged around 7.75% at the time of writing. The fall in price followed a 20% jump in price at Friday’s close. Macro factors seem to have sparked stock volatility.
GDS Holdings Limited (GDS) lost 9.6% in pre-market trading at the time of writing. There is no fundamental news to explain the trading frenzy. However, it seems that rumors of the China-based data center operator being a potential bidder to combine with Chindata Group Holdings Ltd., the Chinese data center operator backed by Bain Capital, raised investor anxiety.
Aluminum Corporation of China Limited (ACH) declined more than 8% in pre-market trading, at last check. There is no company-specific news to explain the downward movement.
Digital freight platform Full Truck Alliance Co. Ltd. (YMM) completes the list. It declined 4.5% in the pre-market session at the time of writing. The company announced that it had facilitated 25.2 million fulfilled orders with a gross transaction value (GTV) of RMB 53.6 billion for the first quarter of 2022. This represents a 13.6% and 4.2% year-over-year rise, respectively. Nevertheless, due to the resurgence of the Omicron variant of COVID-19, many parts of China have experienced lockdowns, highway closures, and other restrictions, severely disrupting the operations of shippers and truckers. Consequently, for Q2 2022, Full Truck Alliance anticipates declines in both GTV and fulfilled orders on a year-on-year basis.
Continue to watch this space for possible volatility upon the market opens. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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