TipRanks has compiled a list of Tuesday’s biggest pre-market stock movements.
Amid the ongoing tough environment, mixed market sentiment on macro factors, company-specific issues, 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
Global-e Online Ltd. (GLBE), a provider of ecommerce solutions, was the biggest laggard in pre-market trading, plunging around 26.4% in pre-market trading at the time of writing. Negative sentiment followed a wider-than-expected first-quarter 2022 loss and a bleak outlook despite upbeat revenues. For Q2 2022, the company expects revenue in the range of $82.5 million to $84.5 million, lower than the consensus estimate of $91.3 million. Additionally, for 2022, revenue is estimated to land between $383 million and $403 million, down from the previous guidance range of $411 million to $421 million and the Street’s expectations of $416.8 million.
Meanwhile, Paramount Global (PARA), an American multinational mass media and entertainment conglomerate, gained 10.5% in pre-market trading at the time of writing. The disclosure of Warren Buffett’s holding company Berkshire Hathaway’s $2.6 billion stakes in the company sparked investor optimism.
Nu Holdings Ltd. (NU) surged 10.34% in pre-market trading at the time of writing. Upbeat first-quarter 2022 revenue and strong consumer growth on a year-over-year basis drove investor optimism despite an earnings miss. The provider of digital banking services reported record revenues of $877.2 million, surpassing the consensus estimate of $710.7 million. It added 5.7 million customers during the quarter and reached a total of 59.6 million customers in Brazil, Mexico, and Colombia, representing year-over-year growth of 61%.
China-based mobility technology platform DiDi Global Inc. (DIDI) increased more than 10% in pre-market trading at last check. There is no company-specific news explaining the uptrend in the stock.
American IoT company Samsara Inc. (IOT) completes the list. It rose 10% in pre-market trading at last glance, after plunging more than 7% at Monday’s close. There is no fundamental news to explain the trading frenzy but it seems macro factors are driving volatility in the stock.
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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