TipRanks has compiled a list of Thursday’s biggest pre-market stock movements.
Negative market sentiment on bleak earnings outlooks, geopolitical tensions, and some other variables seem to have dominated today’s stock market.
Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top 5 pre-market stock movers, as listed below.
5 Biggest Movers
Rent-A-Center, Inc. (RCII), the American public furniture and electronics rent-to-own company, was the biggest laggard in pre-market trading. It lost around 38% at the time of writing, reflecting investors’ concerns following the company’s disappointing fourth-quarter 2021 earnings and below-expectations guidance. Expecting the continued negative impact of “significantly reduced government pandemic relief, decades-high rates of inflation, and supply chain disruptions,” the company has guided for Q1 2022 EPS of $0.65-$0.80, against the consensus estimate of $1.53 per share. Additionally, revenue is expected between $1.125 billion and $1.155 billion, below analysts’ expectations of $1.23 billion. For 2022, EPS in the range of $4.50-$5.00 is anticipated, versus the consensus estimate of $7.04, while revenue is forecast in the range of $4.45 billion to $4.6 billion, compared with the Street’s estimate of $5.27 billion.
Another loser, Ozon Holdings PLC (OZON), tanked 22.5% in the pre-market trading, at last watch. This multi-category e-commerce platform provides customers with a wide selection of goods and home delivery across Russia’s 11 time zones. Though there is no fundamental news explaining the downtrend, it seems that investors are concerned over the geopolitical tensions.
Netherlands-based Yandex N.V. (YNDX) plummeted over 21% in pre-market trading, at last watch. Yandex is an internet and technology company primarily for Russian and Russian-language users. The negative sentiment seems to have followed the increasing concerns over the macro issues.
Hong Kong-based AMTD International Inc. (AMTD) plummeted 17.9% in pre-market trading at the time of writing. However, that drop followed yesterday’s massive increase of more than 78% in its stock price. The financial institution, which is a subsidiary of AMTD Group Company Limited, disclosed that it has concluded the acquisition of a majority stake in AMTD Digital Inc. The combined entity will be listed as AMTD IDEA Group on two major global stock exchanges, NYSE and SGX.
EPAM Systems, Inc. (EPAM), an American company that specializes in product development, digital platform engineering, and digital product design, completes the list. In the pre-market trading, the stock plunged 17.5% and is now trading at $345. The negative sentiment seems to have followed the recent drop of around $1.9 billion in the company’s market capitalization.
Continue to watch this space. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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