TipRanks has compiled a list of Monday’s biggest pre-market stock movements.
Negative market sentiment on company-specific news, macro factors, 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
Rivian Automotive, Inc. (RIVN) was the biggest laggard in pre-market trading, plunging around 16.7% in pre-market trading at the time of writing. Negative sentiment followed the news that automaker Ford Motor (F) has planned to offload 8 million of its shares in Rivian Automotive, the American electric vehicle automaker and automotive technology company.
Another loser, Shaw Communications Inc. (SJR) lost 14.3% in pre-market trading at last glance. Canada’s Commissioner of Competition intention to oppose Rogers Communications Inc’s (RCI) proposed C$20 billion ($16 billion) merger with Shaw has shaken investor confidence.
Palantir Technologies Inc. (PLTR) declined around 12.45% in pre-market trading at last glance. Negative sentiment followed the company’s lower-than-expected first-quarter 2022 earnings and disappointing revenue guidance for the second quarter despite the revenue beat. For Q2 2022, the company expects revenue of $470 million, below the consensus estimate of $483.84 million.
Provider of enterprise analytics and mobility software MicroStrategy Incorporated (MSTR) dropped around 8.24% in pre-market trading at the time of writing. There is no company-specific news to explain the trading frenzy. However, it seems that macro factors are driving volatility in the stock as Bitcoin plunged 4%, decreasing below $34,000.
Harmony Gold Mining Company Limited (HMY), the first largest gold mining company in South Africa, completes the list. It lost about 8.4% in pre-market trading, at last check. The negative sentiment seems to have followed the disclosure that four workers died on Saturday in a maintenance-related accident at the company’s Kusasalethu mine. Consequently, the affected part of the mine had been shut down for further investigations.
Continue to watch this space for possible volatility upon the market opens. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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