Using TipRanks’ Top Stock Gainers/Losers tool, we have compiled a list of Thursday’s biggest pre-market stock movers, which is as follows:
Five Biggest Movers
AMTD IDEA Group (NYSE: AMTD) tops the list with its stock trading 25.1% down early Thursday. Shares of the Hong Kong-based company closed 10.7% down on Wednesday. Although there’s no definite reason to justify this downward movement, it seems to be that the declining share price of its subsidiary, AMTD Digital Inc., impacted AMTD stock.
Shares of biopharmaceutical company Global Blood Therapeutics, Inc. (NASDAQ: GBT) were trading 17.9% up in Thursday’s pre-market trading session. The upside could have been triggered by a Bloomberg report that the company was being considered for a potential takeover.
Confluent, Inc. (NASDAQ: CFLT), a data streaming platform, was trending 17.7% higher early Thursday on the back of solid earnings results for the second quarter of 2022. The company has reported record revenues of $139.4 million, up 58% year-over-year, outpacing expectations of $131.1 million. Adjusted net loss came in at 16 cents per share, narrower than the consensus estimate of 19 cents per share.
Next on the list is Revolve Group, Inc. (NYSE: RVLV), which was down 16.3% at the time of writing. The downside has been triggered by weak earnings results for the second quarter of 2022. The Los Angeles-based fashion retailer has posted earnings of 22 cents per share and total net sales of $290.1 million in the reported quarter. Analysts had expected the company to post earnings of 31 cents per share.
Shares of electric vehicle maker Lucid Group, Inc. (NASDAQ: LCID) plunged 12.1% in Thursday’s early trade. The decline in the company’s stock price was due to its disappointing second-quarter revenues and production guidance for 2022. Lucid has reported revenues of $97.3 million against the consensus estimate of $145 million in the quarter. For the full-year 2022, the company expects to manufacture 6,000-7,000 cars versus 12,000-14,000 cars anticipated earlier.
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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