| | | September 19, 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! Today is Tuesday, September 19th. I hope you have a great day in the market. Now, let's get ready to trade! |
| Stocks sold off on Friday, with the Nasdaq's 1.5% decline leading the way. The S&P 500 fell 1.2%, and the Dow outperformed with only a 0.8% loss, while the small-cap Russell 2K lost 1.0%. Today, S&P 500 futures are sitting close to flat in early-morning trading. Free Stock Analysis Report: Get Buy, Sell, or Hold Recommendation Get a full report that tells you what a stock is really worth, how safe the stock is, and if the timing is right to buy the stock. Plus a definitive Buy, Sell, Hold recommendation for any stock on the market. Analyze Any Stock Free 🛒 Instacart Prepares for Highly Anticipated IPOGrocery-delivery app Instacart will make its public market debut on the NASDAQ in today's session, priced at $30 per share under the ticker symbol CART. Instacart has been considering an IPO for years, but the recent success of Arm Holdings' [ARM] debut seems to have provided the final reassurance the company needed to move forward with the listing. You can bet your bottom dollar there will be many companies watching this IPO closely to gauge the market's reception. If it performs as well as Arm, we could see more significant listings before the end of the year. |
| Sezzle [SEZL] - Last Close: $12.93 Sezzle is notching big gains in the premarket. The company is rebounding in dramatic fashion after a Form 4 filing in Monday's after-market revealed CEO Amin Sabzivand disposed of 586 shares of stock. According to the filing, Sabzivand offloaded the stock on Sept. 14th and 15th, bringing his total holdings down to 37,034 shares. This is the only significant news involving this stock at the moment. SEZL is one of today's top gainers with a 52.5% gain in early trading. My Take: I am not sure what's going on here. SEZL fell 3.6% on Monday, but it spiked suddenly at the closing bell. This filing may not be the real reason for the move, but it's all we have to go on right now. Elutia [ELUT] - Last Close: $1.24 Elutia just inked a lucrative deal to sell some of its assets. The biotech company announced late Monday that it sold its orthobiologics business to GNI Group subsidiary Berkley Biologics for up to $35 million. Under the terms of the deal, Elutia will receive an upfront payment of $15 million, plus potential earn-out payments of up to $20 million over five years. The deal is expected to close in Q4 2023. ELUT is one of this morning's most active stocks, and it's up 34.6% My Take: This looks like a solid deal for ELUT. The stock has struggled in recent months, but there are some signs the sell-off could be bottoming out. Avinger [AVGR] - Last Close: $6.07 Avinger is rallying after an SEC filing. The company published a Form 424B5 in Monday's aftermarket that announced the execution of a previously-announced market offering agreement. The offering was initially announced on May 20th, 2022, and the sale has an aggregate price limit of up to roughly $2.133 million. AVGR is also running hot since announcing the commercial launch of its Tigereye ST image-guided CTO crossing device on Monday. Whatever the reasoning, AVGR is one of today's top stocks with a 37.5% gain. My Take: I would wager the Tigereye ST launch is the primary engine driving AVGR's recent rally, as the filing was pretty routine. AVGR will face some stiff resistance at $7.50 per share, so I'm not sure the upside potential is worthwhile. Connexa Sports Technologies [CNXA] - Last Close: $0.0757 Connexa Sports Tech is up after a recent announcement. This morning, the entertainment company announced shareholders had approved a plan for a reverse stock split of up to 1-for-40 shares. Connexa Sports Tech unveiled the decision yesterday via a Form 8-K filing revealing shareholders voted to approve the measure. No word yet on when the reverse split will take effect, but the market is cheering the news. CNXA is today's top premarket performer with a 69.7% gain on active trading volume. My Take: CNXA is a remarkably tiny stock, so there could be some price manipulation afoot here. This could be a bull trap, so be cautious. Don't get caught holding the bag. GainersNavidea Bio [NAVB] >> +16.4%CF Acquisition [CFFE] >> +33.2%Chicken Soup for the Soul [CSSEL] >> +30.0%Phaxiam Therapeutics [PHXM] >> +24.0%DeclinersUphealth [UPH] >> (50.0%) Rocket Lab USA [RKLB] >> (20.4%)Cheche Group [CCG] >> (17.3%)60 Degrees Pharma [SXTP] >> (21.6%) Autozone [AZO] ... AM Endava [DAVA] ... AM Apogee [APOG] ... AM Steel Case [SCS] ... PM Housing Starts [Aug]... 8:30aBuilding Permits [Aug]... 8:30a |
| 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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