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These Stocks are the Biggest Pre-Market Movers on Friday

TipRanks has compiled a list of Friday’s biggest pre-market stock movements. 

Amid the ongoing tough environment, mixed market sentiment on earnings releases, company-specific news, and other variables seem to have dominated today’s stock market. Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below. 

5 Biggest Movers 

Affirm Holdings, Inc. (AFRM), one of America’s largest buy now, pay later (BNPL) companies, which offers a digital and mobile-first commerce platform was the biggest gainer in pre-market trading, jumping around 28% at the time of writing. Upbeat third-quarter fiscal 2022 results and a strong outlook rose investor optimism. For fiscal Q4 2022, Affirm anticipates GMV in the range of $3.95 billion to $4.05 billion, while revenue to land between $345 million and $355 million. For Fiscal 2022 (ended June 30, 2022), the company anticipates GMV in the range of $15.04 billion to $15.14 billion, while revenue expectations range between $1.33 billion and $1.34 billion.  

Meanwhile, healthcare apparel company FIGS, Inc. (FIGS) was the biggest laggard in pre-market trading, plummeting around 27% in pre-market trading at the time of writing. Negative sentiment followed the company’s disappointing first-quarter 2022 results and below-expectation revenue outlook. For 2022, the company expects revenue in the range of $510 million to $530 million, versus the consensus estimate of $556.5 million. 

Social networking giant Twitter, Inc. (TWTR) lost 17.6% in pre-market trading at the time of writing. Negative sentiment followed Tesla (TSLA) CEO Elon Musk’s tweet that his $44 billion buyout of Twitter is “temporarily on hold”. Musk awaits data related to the company’s proportion of fake accounts. 

Retail stock brokerage Robinhood Markets, Inc. (HOOD) increased around 21% in pre-market trading at the last check. Positive sentiment followed the revelation of a 7.6% stake of Sam Bankman-Fried, a co-founder of crypto exchange FTX, in the company, per the Securities and Exchange Commission filing. 

Duolingo, Inc. (DUOL) completes the list. It surged 17.5% in pre-market trading at last glance. Positive sentiment sparked following the company’s smaller-than-expected first-quarter 2022 loss and upbeat revenues. Also, Duolingo provided a strong outlook. For Q2 2022, the company expects revenue in the range of $84 million to $87 million, above the consensus estimate of $81.4 million. For 2022, revenue is forecast to land between $349 million and $358 million, versus analysts’ expectations of $339 million. 

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