TipRanks has compiled a list of Thursday’s biggest pre-market stock movements.
Amid the ongoing tough environment, mixed market sentiment on earnings releases, macro issues, 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
Dutch Bros Inc. (BROS), a growing brand in the food service and restaurant industry in the United States, was the biggest laggard in pre-market trading, plummeting around 35% in pre-market trading at the time of writing. Negative sentiment followed the company’s surprise loss of $0.02 per share reported in the first quarter of 2022, against the Street’s estimated earnings of $0.01 per share. Meanwhile, total revenues of $152.2 million surpassed analysts’ expectations of $145.63 million. For 2022, the company expects near-term margin pressure in company-operated shops and modest price increases during the year.
Meanwhile, South Korean ecommerce giant Coupang, Inc. (CPNG) jumped around 13.65% in pre-market trading at the time of writing. A lower-than-expected first-quarter 2022 loss rose investor optimism despite disappointing revenues. The company reported a loss of $0.12 per share, lower than the Street’s estimated loss of $0.17 per share. Revenue for the quarter stood at $5.1 billion, below the consensus estimate of $5.25 billion.
IronSource Ltd. (IS) lost 11.67% in pre-market trading at the time of writing. Despite upbeat first-quarter 2022 results posted by the Israel-based software company, investor anxiety seems to be ignited by macro issues. For 2022, the company expects revenue in the range of $750 million to $780 million, while for Q2 2022, revenue is likely to land between $180 million and $185 million.
Coinbase Global, Inc. (COIN) decreased around 8.95% in pre-market trading at last check after recording losses of 26.4% at Wednesday’s close. Investor confidence continued to shatter on the crypto exchange platform operator as Bitcoin falters to about $28,000.
Mobile technology company AppLovin Corporation (APP) completes the list. It surged 15.4% in pre-market trading, at last glance. Positive sentiment sparked after management said that about $2 billion is expected from the software business in 2023 and they could contemplate the sale of their apps business. Nevertheless, the company posted a wider-than-expected first-quarter 2022 loss and disappointing revenues. Also, AppLovin reduced 2022 revenue expectations for its software platform in the range of $1.14 billion to $1.29 billion, from the prior range of $1.35 billion to $1.5 billion.
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…
Discover new investment ideas with data you can trust
Read full Disclaimer & Disclosure
