TipRanks has compiled a list of Thursday’s biggest pre-market stock movements.
Mixed market sentiment seems to be driven by company-specific news, earnings releases, and other variables. Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
5 Biggest Movers
Forge Global Holdings, Inc. (FRGE), a provider of marketplace infrastructure, data services, and technology solutions for private market participants, was the biggest laggard in pre-market trading, recording losses of 13.5% at the last check. Recently, the company filed the prospectus related to the offer and sale of up to 25,853,271 shares of common stock. These shares can be issued by the company upon the exercise of 25,853,271 warrants.
The China-based live-streaming platform Bilibili Inc. (BILI) lost almost 13.3% in pre-market trading at last glance, after recording gains of almost 6% at Wednesday’s close. Mixed first-quarter 2022 results posted by the company raised investor anxiety. Despite the revenue beat, Bilibili recorded an adjusted loss of $0.66 per share, missing analysts’ expectations by $0.03.
Meanwhile, Cognex Corporation (CGNX) gained 10.35% in pre-market trading at last glance. There is no fundamental news explaining the trading frenzy.
Five Below, Inc. (FIVE) declined 9.1% in pre-market trading at the time of writing. Negative sentiment followed disappointing results for the first quarter of Fiscal 2022 (ended April 30) and a below-expectation outlook. For Fiscal Q2 2022, Five Below expects EPS in the range of $0.74-$0.86, versus the consensus estimate of $1.19. Meanwhile, revenue is expected to land between $675 million and $695 million, below analysts’ expectations of $729.2 million.
China-based Electric Vehicle (EV) maker NIO Inc. (NIO) completes the list. It lost 6.7% in pre-market trading at the time of writing. Negative sentiment followed the bleak outlook on supply and vehicle delivery issues despite upbeat first-quarter 2022 results. For Q2 2022, NIO expects revenue to land between RMB 9.34 billion and RMB 10.09 billion, below the consensus estimate of RMB 11.65 billion. The company expects deliveries to decline to between 23,000 and 25,000 vehicles.
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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