TipRanks has compiled a list of Thursday’s biggest pre-market stock movements.
Today’s stock market is influenced by earnings releases, negative market sentiment, and other variables.
Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top 5 pre-market stock movers, as detailed below.
5 Biggest Movers
Social networking company Meta Platforms, Inc. (FB) was the biggest loser in the pre-market trading, as the stock dropped almost 20% at the time of writing. The company posted disappointing fourth-quarter 2021 earnings and provided Q1 2022 revenue guidance below expectations. Management expects first-quarter 2022 total revenue to be in the range of $27-$29 billion, representing 3-11% year-over-year growth. The guidance missed the revenue consensus estimates of $30.1 billion for Q1 2022.
In the pre-market trading, Snap Inc. (SNAP) dipped over 15%, prior to its earnings release, after the market. It seems that investors’ concerns rose after Meta Platforms posted disappointing earnings. Snap is a social media company and provides a camera platform in the U.S. and internationally.
Another laggard in the pre-market trading, Toast, Inc. (TOST) lost over 13%, without any fundamental news explaining the downtrend. The company is a cloud-based, end-to-end technology platform purpose-built for the entire restaurant community.
Meanwhile, Aurora Innovation, Inc. (AUR) surged 8.7% in the pre-market trading, at last watch. The jump in the stock price of the American self-driving vehicle technology company seems to have followed the revelation by Amazon.com Inc. (AMZN) that it owns a 5% stake in Aurora.
California-based Pinterest, Inc. (PINS) rounded off the list. It declined 8.5% in the pre-market trading, before it releases the Q4 earnings report, today after the market close. Investors seem anxious following disappointing results posted by Meta Platforms on Wednesday. Pinterest provides a visual discovery engine globally.
Continue to watch this space. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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