TipRanks has compiled a list of Tuesday’s biggest pre-market stock movements.
Today’s stock market seems to be dominated by company-specific news and other variables. Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
5 Biggest Movers
Yamana Gold Inc. (AUY), the Canada-based producer of gold, silver, and copper, was the biggest gainer in pre-market trading, recording gains of around 14.7% at the time of writing. Positive sentiment followed the news that South African gold miner Gold Fields Limited (GFI) will acquire Yamana Gold in an all-stock deal valued at $6.7 billion.
Meanwhile, shares of Gold Fields plummeted around 12.6% at last glance, making it one of the biggest movers in pre-market trading.
Global shipping company Frontline Ltd. (FRO) lost 13.1% in pre-market trading, at the last check after recording 5.35% gains at Friday’s close. Recently, Frontline disclosed that it will acquire a total of 5,955,705 shares in Euronav N.V. (EURN). The purchase represents 2.95% of the outstanding shares in privately negotiated share exchange transactions.
Netherlands-based Allego N.V. (ALLG), which operates as an electric vehicle (EV) charging company, surged 11% at the time of writing. Though there is no fundamental news explaining the uptrend, it seems that the recent strategic partnership with France-based Groupe Bertrand kept the momentum alive. Groupe Bertrand is well-established in the hotel and restaurant industry, with businesses such as catering, restaurants, and brasseries.
Huazhu Group Limited (HTHT) completes the list. The firm engaged in the hotel operation business in China recorded gains of 9.72% in pre-market trading at last glance. Positive sentiment followed the release of the first quarter results of 2022. Total revenue came in at RMB 2.7 billion, up 15.2% year-over-year. Meanwhile, adjusted loss per share stood at RMB 0.21 ($0.03), while adjusted loss per ADS was RMB 2.12 ($0.33). As of March 31, 2022, the company had 7,988 hotels operational.
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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