TipRanks has compiled a list of Friday’s biggest pre-market stock movements.
Positive market sentiment seems to be driven by company-specific news, macro factors, and other variables. Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
5 Biggest Movers
Alibaba Group Holding Limited (BABA), a Chinese operator of online and mobile marketplaces in retail and wholesale trade, was the biggest gainer in pre-market trading, recording gains of 9.9% at the time of writing. China’s central bank’s acceptance of Ant Group’s application to set up a financial holding company sparked optimism. Ant is an affiliate of Alibaba.
China-based JD.com, Inc. (JD), the technology-driven e-commerce company, surged 8.64% in pre-market trading, at the last check. The stock plunged 3.6% yesterday at the close. The positive sentiment seems to have followed the news of JD.com’s foray into food delivery service. JD Retail CEO Xin Lijun said, “As for when we will start doing it, it will depend on our capacity and when we can build up a talent team.”
Digital healthcare platform GoodRx Holdings, Inc. (GDRX) gained 8.09% in pre-market trading, at the last check. There is no company-specific news explaining the uptrend.
Li Auto Inc. (LI) rose 7.26% in pre-market trading at last glance. Though there is no company-specific news to explain the trading frenzy, it seems that easing COVID-related restrictions in China has kept the momentum alive.
The United States Steel Corporation (X) completes the list. It surged 7.14% in pre-market trading at the time of writing. Positive sentiment followed the company’s guidance for the second quarter. For Q2 2022, U.S. Steel expects EPS in the range of $3.83-$3.88, above the consensus estimate of $3.25. Additionally, the company anticipates EBITDA of $1.6 billion, which would represent the strongest ever performance in the second quarter.
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