| | | October 2nd, 2023 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! Happy Monday! It's October 2nd. I hope you had a great weekend. Now, let's get ready to trade! |
| Stocks closed last week with mixed results. The Nasdaq managed a 0.1% gain, while the Dow lost 0.4%, and the S&P 500 slid to a 0.2% loss. The small-cap Russell 2K lost half a point on the session. Today, futures are sitting close to flat in early premarket trading. S&P 500 contracts are up by less than 0.1%. FedNow Digital Nightmare Begins! The FedNow digital payment system just went LIVE, and it's a lot scarier than you might think! The Federal Reserve payment system could control who gets paid, where you can spend money, and even who can participate in the financial system at all! The pressing issue of a digital dollar here in the U.S.A. has now taken a step closer to reality. The good news is, you still have time to protect yourself! Get Your Digital Dollar & FEDNOW Survival Guide HERE >> 📉 September Wrap-UpThe S&P 500 wrapped up September with a 0.2% loss on Friday, capping off its worst monthly performance of the year. The large-cap benchmark fell 4.9% last month in what was its worst month since December 2022. Technology stocks fared particularly poorly. Apple [AAPL] lost 8.9% in September, while AI powerhouse NVIDIA [NVDA] fell 12.0%. However, there's hope on the horizon. The S&P 500, Nasdaq, and Dow all tend to rise in October, on average. Unfortunately, the historical data also shows that the S&P 500 and Dow are more likely to fall in October when they took losses in September, although the Nasdaq tends to go up regardless. |
| Alaskan Air [ALK] - Last Close: $37.08 Alaskan Air is getting a boost after an analyst note. This morning, Morgan Stanley reiterated its "overweight" rating on the stock but cut its price target to $70 from $75 previously. On average, analysts typically rate ALK as a "buy" with price targets ranging from $50 to $75. The company hasn't released any major announcements since Sept. 25th, when it unveiled a new daily service between San Diego and Atlanta. ALK is leading the S&P 500 this morning with a gain of 4.8%. My Take: ALK came into the Summer strong, but the rally fizzled in mid-July. Now, shares are down from where they started the year, but this note could be an early sign that the downturn is beginning to bottom out. Telecom Argentina SA [TEO] - Last Close: $4.79 Telecom Argentina is making gains in early trading.
The Argentinian telecom company is trending despite no major announcements from the company in recent days. Yesterday, the South American country hosted a presidential debate in an election that could have significant consequences for its economy. One popular candidate, Javier Milei, has promised to fix the country's currency issues by adopting the U.S. dollar as its national currency. The candidate's plan could be seen as a positive for Argentinian business, so his strong performance in yesterday's first presidential debate may explain the move. Either way, TEO is one of this morning's top stocks with a 33.4% gain. My Take: It's hard to say why this stock is up. Financial reporting isn't nearly as good for international companies based in smaller markets. However, TEO could be a good value here. BTC Digital [BTCT] - Last Close: $3.58 A Bitcoin rally is boosting shares of BTC Digital.
The crypto miner is on the rise following a 7.2% run-up it Bitcoin prices over the past 5 days. This weekend, prices spiked by nearly $1,000 in a few minutes, and the benchmark crypto is currently sitting at $28,262 per BTC. The rally seems to be giving Bitcoin miners like BTCT a boost in today's premarket. It's up 8.9% in the premarket. My Take: This is a relatively minor move, but the stock is coming off a big pop on Friday. It could be worth watching if Bitcoin prices continue to trend higher. Aerwins [AWIN] - Last Close: $0.1208 Aerwins is soaring after making a big announcement. On Friday, the "air mobility" company said it will redesign its Xturismo Ltd edition Prototype 1 hoverbike to help break into the U.S., Europe, and other markets. Some of the new design enhancements will include an alternative power plant and fuel source, as well as other options, according to an Aerwins statement. The company also said it's in discussions with potential joint venture partners who are already approved by the U.S. Federal Aviation Administration. Aerwins also said it's considering strategic alternatives for non-core operations, including but not limited to the sale or other disposition of assets. AWIN is one of today's top premarket movers with a 99.5% gain. My Take: AWIN lost nearly 90% of its value over the past six months. It could be on its way to zero, or it could be in position for tremendous upside. An asset deal or new partnership announcement could also give the stock a short-term boost. GainersIcecure Medical [ICCM] >> +80.4%RVL Pharma [RVLP] >> +26.6%InVitae [NVTA] >> +25.5%SeaStar Medical [ICU] >> +23.1% DeclinersSmileDirectClub [SDC] >> (54.2%) Safe Green [SGD] >> (49.6%)Intelligent Bio [INBS] >> (49.5%)Aramark Holdings [ARMK] >> (23.8%) Upexi, Inc. [UPXI] ... PM S&P final U.S. manufacturing PMI [Sep] ... 9:45aISM manufacturing [Sep] ... 10:00aConstruction spending [Aug] ... 10:00a |
| Thanks for reading! Don't forget, I'm always eager to hear from you. Reply to this email with your questions, comments, or general feedback, and I'll get back to you as soon as I can. Wishing you big returns on your investments this week, as always! - Michael "The Stock Dork" Taylor Disclaimer© 2023 TheStockDork.com. All rights reserved. This message was sent by TheStockDork.com and may contain commercial elements such as advertising. Read full terms here. |
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