Using TipRanks’ Top Stock Gainers/Losers tool, we have compiled a list of Monday’s biggest pre-market stock movers, which is as follows:
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Five Biggest Movers
Freedom Holding Corp. (NASDAQ:FRHC) tops the list as its stock declined 23.2% early Monday. There seems to be no significant catalyst that could have triggered the downside. However, the overall market pessimism might have weighed on the stock.
China’s largest agriculture platform, Pinduoduo Inc. (NASDAQ:PDD) comes next on the list as the ADR of the stock rose 15.3% in Monday’s premarket trading session. The upside might have been caused by encouraging second-quarter 2022 financial results. The company recorded adjusted earnings of $1.13 per share, surpassing analysts’ projections of 43 cents per share. Revenues of $4,693.8 million in the second quarter were up 36% from the year-ago quarter.
Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) declined 10.3% early Monday. The stock was down nearly 3.6% in Friday’s trading session. There seems to be no specific catalyst that could have triggered the downside in the stock. However, earlier this month, the company posted disappointing second-quarter 2022 financial results. Its net loss of 74 cents per share came in wider than analysts’ projections of 61 cents per share. The top line of $134 million in the second quarter also lagged the consensus estimate of $142.7 million.
Catalent, Inc. (NYSE:CTLT) was down almost 10% at the time of writing. The downside could have been triggered by a dismal forecast for Fiscal 2023, which was announced during the fourth quarter Fiscal 2022 earnings release.
Last on the list is Tellurian Inc. (NYSE:TELL), which was down 5.6% at the time of writing. The downside follows the company’s announcement to offer and sell units, including 11.25% senior secured notes due 2027 and warrants to purchase shares of Tellurian common stock in an underwritten public offering.
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…
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