| | Hey traders! It's Michael here with the Stock Dork Cheat Sheet: Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks!
Today is Wednesday, November 22nd. I hope you have a great trading session. Apologies for the late start. I had some technical difficulties this morning. 📢 The market will be closed tomorrow for Thanksgiving, but I’ll be back for the half-day session on Friday. Now, let's get ready to trade! |
U.S. indexes stumbled on Tuesday, with the Nasdaq’s notching a 0.5% loss. The S&P 500 lost 0.2%, and the Dow edged lower by 0.1%. But, the day’s big loser was the small-cap Russell 2K, which sold-off for a 1.3% decline. Index futures pointing to a potential rebound at today’s open. S&P 500 contracts are currently up 0.2%. Trading around earnings announcements provides a unique trading opportunity. Trading around earnings can lead to excellent short-term trading opportunities, so your money doesn't get tied up for a long time. Not only that, but you can rack up stack steady games by repeating this simple trading technique. 🚀 Nvidia Rallies on Strong Earnings Nvidia [NVDA], a titan in the AI chip-making arena, is riding high on its latest earnings report. The numbers? Impressive enough to give its shares a premarket boost. - Revenue Rundown: Nvidia raked in a cool $18.1 billion in quarterly revenue, cruising past both its own guidance and Wall Street's 12% lower expectations.
- Net Income Nailed It: At $9.24 billion, the net income soared about 26% beyond what the analysts had on their radar.
- GAAP Earnings Glory: Earnings per share hit $3.71, marking a 22% leap over consensus predictions.
🔮 Bright Future Forecast: Looking ahead, Nvidia's`` aiming for around $20 billion in revenue this quarter, outshining Wall Street's more modest $18 billion forecast. 📉 Stock Movement: After a bit of a morning dip, shares picked up around 1% in premarket trading, reflecting investor optimism. 🌟 AI-Driven Surge: Nvidia's stock has been on a meteoric rise, more than tripling this year thanks to AI excitement. This surge has even led to a record close on Monday. 📊 Big Tech, Big Impact: As one of the "Magnificent Seven" in tech, Nvidia isn't just winning personally; it's a major player in driving the S&P 500's gains this year. In a nutshell, Nvidia's latest earnings report isn't just good news—it's a market mover, underscoring the company's pivotal role in the tech landscape and the broader market sentiment. |
SciSpark [SPRC] - Last Close: $6.37SciSpark is taking off after announcing a merger deal. The tiny biotech firm signed a non-binding letter of intent to merge with an unnamed partner in a deal with a very complicated structure. SciSpark plans to form a new wholly-owned subsidiary and execute a reverse merger with target company. Upon closing, the target company would be the surviving entity. The Target Company is a leading vehicle importer in Israel. Its revenues for the first half of 2023 amounted to over $52 million. The deal is subject to shareholder approval, customary closing conditions, and the approval of certain Israeli court. SPRC is one of this morning’s most active stocks, and it’s up 24.1% on the merger news. My Take: I don’t know about this deal. It’s absurdly complicated, and why is a biotech merging with a vehicle importer? I’m staying away from this one. Heart Test Laboratories [HSCS] - Last Close: $0.1961Heart Test Labs is on a hot streak, and shares are up again today. This tiny stock is gaining after publishing a Form 8-K updating the market on its ongoing compliance dispute with Nasdaq. Nasdaq first notified Heart Test that it was out of compliance with its minimum shareholde equity rule in Dec. of 2022. A lengthy process of appeals and extensions dragged the case out for months. Finally, the final deadline came down to Nov. 21st. The deadline has obviously passed, but Heart Test said it believes it has satisfied Nasdaq’s rule in its recent filing. HSCS is up 29.9% on elevated trading volume in the wake of the announcement. My Take: HSCS said it BELIEVES it has satisfied the rule, but it’s ultimately up to Nasdaq. When the exchange announces its final ruling on the dispute, it could provide another catalyst for this tiny stock. PaxMedica [PXMD] - Last Close: $0.80PaxMedica is rebounding after a pullback on Tuesday. Yesterday, the tiny biotech began to slide after registering for an offering of 2.23 million shares of common stock at $1.75 per share. The expected gross proceed from the offering comes to just shy of $7 million. PXMD fell 18.3% on Tuesday after disclosing Form EFFECT and Form 424B4 filings early in the morning. However, the move is reversing course today, and PXMD is rapidly recapturing its lost ground. PXMD is one of this morning’s top movers with a 14.8% gain on elevated trading volume. My Take: PXMD could find some support at the $0.80 mark, but I think it will have a hard time breaking through $1. Plus, this stock is still in a downtrend so prepare for a quick exit if you decide to jump in. AgileThought [AGIL] - Last Close: $0.083AgileThought is skyrocketing after a business update. After Monday’s close, the company announced it had been delisted from the Nasdaq as a result of its Chapter 11 bankruptcy filing. AgileThought notched a 4.0% gain on Tuesday, despite the seemingly negative announcement of the delisting in their Form 8-K filing. As of now, AGIL is leading the premarket with a 76.9% gain, and it’s exhibiting a huge spike in premarket trading volume. My Take: AGIL might be a wild ride, but volatility can translate to opportunity if you play your cards right. Day traders might want to keep an eye on this one because it seems like this is today’s big-volume penny stock trade. Gainers- Wheeler REIT [WHLR] >> +29.6%
- Evolve Transition [SNMP] >> +22.8%
- Brenmiller Energy [BNRG] >> +17.7%
Decliners- CF Acquisition [CFFE] >> (55.4%)
- Mountain Crest Acquisition [MCAF] >> (18.7%)
- Alterity Therapeutics [ATHE] >> (19.8%)
- Deere & Company [DE] ...AM
- EHang Holdings Limited [EH] ... AM
- Gaotu Techedu [GOTU] ... AM
- ATRenew [RERE] ... AM
- Jiayin Group [JFIN] ...AM
- Sunlands Technology Group [STG] ... AM
- LexinFintech Holdings [LX] ...PM
- X Financial [XYF] ... PM
- Initial jobless claims [Nov] ... 8:30a
- Durable-goods orders [Oct] ... 8:30a
- Durable goods minus transportation [Oct] ... 8:30a
- Consumer sentiment (final) [Nov] ...10:00a
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