TipRanks has compiled a list of Thursday’s biggest pre-market stock movements.
Positive market sentiment on company-specific news and other variables seems 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
Microvast Holdings, Inc. (MVST) was the biggest gainer in pre-market trading, jumping around 16% at last watch. The battery manufacturer that makes lithium-ion batteries for electric vehicles and energy storage systems, and has no fundamental news to explain the trading frenzy.
Another gainer, Nikola Corporation (NKLA), an American manufacturer of heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles, and energy solutions, rose in pre-market trading, recording gains of 8.75% at the time of writing. Positive sentiment followed the company’s revelation of the commencement of production of the battery-powered electric commercial semitruck, the Tre, at its factory in Coolidge, Arizona.
Dave Inc. (DAVE) climbed 9.5% in the pre-market session at the time of writing. The rise followed an 8.5% drop in price at Wednesday’s close. Price volatility seems to have followed the company’s recent announcement of a strategic partnership and a $100 million investment plan to add cryptocurrency to its fintech platform.
China-based Trip.com Group Limited (TCOM) climbed 7.2% in pre-market trading at the time of writing. This surge followed the company’s strong fourth-quarter 2021 and full-year 2021 results. Fourth-quarter adjusted net income came in at RMB 309 million ($48 million), while revenue was RMB 4.7 billion ($735 million) down 6% year-over-year. Trip.com reported 9% increase in revenue for 2021, while adjusted net income was RMB 1.4 billion ($213 million). It is an online travel company that provides services including accommodation reservation, transportation ticketing, packaged tours, and corporate travel management.
China-based biopharmaceutical company Zai Lab Limited (ZLAB) completes the list. It jumped 6.8% in pre-market trading, at last watch. The upward movement followed a 2.7% rise in price at Wednesday’s close. Though the company has no recent fundamental news to explain the buying volume, it seems that positive results from the Phase 3 PRIME study of ZEJULA (niraparib), released earlier this week, at the Society of Gynecologic Oncology meeting has kept optimism alive. ZEJULA is an orally taken inhibitor designed to treat adult patients, who are suffering from advanced and recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer.
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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