My Take: Investors hope Trump's run will attract more users to TRUTH Social, but the new Musk-led Twitter could siphon off some of that demand, especially is Musk lets him back on the platform.
Grab Holdings [GRAB] - Last Close: $3.13
An upbeat earnings release set off a premarket rally in Grab Holdings.
The Singapore-based food delivery stock reported its Q3 earnings results this morning, and the results surpassed analysts' expectations.
Grab posted a loss of -$(0.08) per share, which was slightly better than the consensus estimate of a -$(0.09) per share loss.
Revenues came in at $382 million for the quarter and beat the consensus target of $348 million by a significant margin.
Grab also raised its full-year 2022 forecast to a stronger-than-expected range of $1.32 billion to $1.35 billion to account for the strong quarter. Analysts' expected $1.28 billion.
GRAB is up 15.6% on active premarket trading volume.
My Take:This stock has been on a hot streak since last week. It just broke through a stiff resistance point at $3, and it looks like it's in the early phases of a pivot. There could be some opportunity for a swing trade here.
Excellon Resources [PEGY] - Last Close: $2.35
A rally in silver is giving Excellon Resources a boost.
Silver futures just broke through $22/ounce for the first time in months, and the news is providing a catalyst for silver miners like Excellon Resources.
The company also reported mixed Q3 results last week, and the stock has been extremely volatile ever since.
For three days in a row, the stock has opened higher than the previous day, only to surrender its gains and close lower during the trading session.
Whatever the reason, the stock is showing strength in the premarket. Shares are up 17.9%.
My Take: I'm not sure what's going on with this stock, but this rally could be another bull trap. Last week's earnings report made it sound like lower metals prices and higher costs are really squeezing the company. However, all the volatility can certainly produce plenty of short-term trade opportunities.
Fast Radius Inc [FSRD] - Last Close: $0.165
Fast Radius is riding an epic rebound rally in today's premarket.
The cloud-systems infrastructure manufacturer fell 47.7% yesterday after it established a timeline for its Chapter 11 sales process.
The company says it's still evaluating its options, but a US bankruptcy court has approved a proposed sale and marketing procedures with a bid deadline of Dec. 5th 2022.
This morning, the stock is rebounding in dramatic fashion.
FSRD is the premarket's highest-volume mover, and it's currently carrying a 39.4% gain.
My Take:Bankruptcy stocks are risky, as you probably expect, but they can provide many short-term opportunities. FSRD could see a huge gain if it manages to land a buyer before the court's deadline, and a small speculative position could go a long way.
