Don't Miss these 4 Trending Stocks ð

June 7, 2022

Hey traders! It's Michael here with the BRAND NEW Stock Dork Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks!

Today is Tuesday, June 7th. Let's get ready to trade!

WHAT'S HAPPENING

The S&P 500 added 0.3% on Monday as US indices gained in the week's first trading session. The Dow edged 0.1% higher, while the Nasdaq and Russell 2K rose 0.4% on the session.

Today, futures are slipping in early morning trading. S&P 500 contracts are currently down 0.5%.

TODAY'S TOP STOCKS

GitLab Inc [GTLB] - Last Close: $39.84

GitLab is powering higher after a strong quarterly earnings report.

Last night, the software development platform released Q1 results for its fiscal 2023 after the closing bell. The report revealed revenues grew 75% YoY to $87.4 million for the quarter, beating the Street's $77.81 million target.

Adjusted EPS also improved drastically from the year-earlier quarter's loss of $(0.44) per share to $(0.18) for the quarter, which also beat the consensus estimate of a $(0.27) per share loss.

GitLab's full-year outlook for revenues and earnings also beat consensus forecasts.

GTLB is up 9.2% in the wake of its strong earnings report.

Our Take: GitLab is still showing a substantial operating loss, but the company's strong revenue growth is the bigger story here. This is a promising tech stock that could have a bright future.

Kohl's Corp [KSS] - Last Close: $41.62

Kohl's is up big on reports the company is in advanced buyout talks.

A report this morning from The Wall Street Journal revealed the retailer has been in talks with Vitamin Shoppe parent company Franchise Group Inc. [FRG] for three weeks regarding a possible sale.

Sources close to the matter say the deal values Kohl's at around $8 billion and proposes to pay $60 per share to acquire outstanding shares.

If the reports are accurate, the bid would represent a 62% premium to KSS's closing price on Monday.

KSS is up 9.5% on news of the potential buyout deal.

Our Take: Shares of KSS are trading for around 30% below the rumored bid of $60 per share. If the deal goes through, the stock could rally to close the gap. However, nothing is guaranteed because the deal could still fall apart, and the rumored specifics may not be entirely accurate.

Kiromic BioPharma [KRBP] - Last Close: $0.2801

Kiromic BioPharma is surging on a big announcement.

The clinical-stage biotherapeutics company has agreed to a Sponsored Research Agreement (SRA) with principal investigator James W. Welsh, M.D., of The University of Texas MD Anderson Cancer Center.

Under the terms of the two-year deal, preclinical data will be generated from Kiromic's Gamma Delta T cell (GDT) allogeneic therapies. This SRA is intended to evaluate efficacy and patient safety outcomes to support three new investigational drug (IND) applications to the U.S. Food and Drug Administration (FDA).

The company says the deal will allow it to bring two more investigational new drugs to regulators, bringing its total number of outstanding applications to five. Kiromic says it expects to complete the first of the two INDs in the second half.

KRBP is trading actively with a 132.1% gain on the news.

Our Take: Investors could be betting that Kiromic's SRA signals new drug approvals around the corner that could trigger big gains in the months ahead. This tiny biotech stock could have potential.

Hellbiz Inc [HLBZ] - Last Close: $0.9200

News of bullish insider buying is rallying shares of Hellbiz.

A recent Form 4 filing from the intra-urban transportation company revealed its CEO, Salvatore Palella, purchased more than 2 million shares of stock at an average price of $0.99 per share.

The transaction represents a noteworthy vote of confidence from the CEO, and he paid a 7.6% premium from Monday's closing price to acquire the shares.

HLBZ is up 20.7% on active trading volume following the corporate disclosure.

Our Take: This move seems a little overdone, so there could be more at play here. However, investors always like to see a CEO with more skin in the game.

RUNNING HOT

Gainers

BYND Cannasoft [BCAN] >> +34.8%
Didi Global [DIDI] >> +4.4%
Powerbridge [PBTS] >> +3.9%

Decliners

Huize Holding [HUIZ] >> (18.6%)
Good Times Restaurants [GTIM] >> (11.7%)
Helius Medical A [HSDT] >> (15.8%)

EARNINGS

Cracker Barrel [CBRL] ... AM
United Natural Foods [UNFI] ... AM
The J.M. Smucker Co. [SJM] ... AM
Academy Sports and Outdoors [ASO] ... AM
Dave & Buster's [PLAY] ... AM
Gill Apparel Group [GILL] ... AM
Guidewire Software [GWRE] ... PM
Casey's General Stores [CASY] ... PM
Smartsheet [SMAR] ... PM

ECONOMY

Foreign Trade Balance [Apr] ... 8:30a
Consumer Credit [Apr] ... 3p

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

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