Using TipRanks’ Top Stock Gainers/Losers tool, we have compiled a list of Monday’s biggest pre-market stock movers, which is as follows:
Five Biggest Movers
Topping the list is Turquoise Hill Resources (TRQ), which dropped over 25% in the pre-market session on Monday after the Canada-based mineral exploration and development company said no to the buyout offer from Rio Tinto plc (RIO) worth $2.7 billion. Rio offered to pay C$34 per share to gain 49% of the company that it did not already own. The offer was rejected on the grounds that it did not “fully and fairly reflect the fundamental and long-term strategic value of the Company’s majority ownership of the Oyu Tolgoi project.”
Second, on the list is ZoomInfo Technologies Inc. (ZI) which lost over 7.5% in the pre-market trading session on Monday. One of the reasons that could have led to the drop is that key investors including Carlyle Group Inc. as well as the National Bank of Canada sold shares of the company. The former sold ZI shares worth $16.65 million at the end of last week. Meanwhile, an SEC filing revealed that the National Bank of Canada slashed its holding in ZI shares by 90% after selling 9,425 shares during the first quarter. The bank now holds only 1,049 shares of the company’s shares.
Next is California-based genomics and biotechnology company 23andMe Holding (ME). The stock is down almost 7% at the time of writing this article. While there seems to be no clear reason for the price drop, the company is riding on weaker investor sentiment as it reported a wider-than-expected second-quarter loss last week due to increased operating expenses.
Making a positive move today in the early trading session today is AST SpaceMobile (ASTS). The company is trading 5% higher in the pre-market trade on Monday after closing 7% higher on Friday. In fact, the stock has caught huge investor interest and is trending almost 50% higher in the last 5 trading days as it is preparing to launch a satellite in early or mid-September.
Last on the list of stocks is Sigma Lithium (SGML), which is up almost 6% in Monday’s pre-market trade after closing 6.89% higher on Friday. Last week, the company filed for a phase 3 technical report supporting the previously announced 50% increase in total National Instrument 43-101 mineral resource estimate to 86 million tonnes at its 100% owned Grota do Cirilo Project.
Continue to watch this space for possible volatility upon the market open. On Tuesday, we’ll have another up-to-date piece on stock Pre-Market Movers…
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