tiprankstipranks
Market News

These Stocks Are the Biggest Pre-Market Movers on Tuesday

Story Highlights

Here is a list of stocks that witnessed the most price movement on Tuesday. 

Using TipRanks’ Top Stock Gainers/Losers tool, we have compiled a list of Tuesday’s biggest pre-market stock movers, which is as follows:

Five Biggest Movers

Topping the list is Goodrx Holdings, Inc. (NASDAQ: GDRX), which gained 52.7% in the pre-market trading session on Tuesday, riding on better-than-expected second-quarter results. The digital healthcare platform has reported an adjusted EPS of six cents, exceeding the Street’s estimate of four cents per share. Revenue increased 9% year-over-year to $191.8 million, compared to analysts’ expectations of $184.7 million.

Shares of Novavax, Inc. (NASDAQ: NVAX) were trending 29.1% down at the time of writing, after losing 32% in Monday’s after-hours trade. The fall was triggered by disappointing results for the second quarter of 2022 on Monday. The biotechnology company’s revenue declined to $186 million from $298 million in the year-ago quarter, and its net loss widened to $6.53 per share from $4.75 per share in the previous year. The consensus estimate for loss stood at $5.54 per share.

Next is Liberty Media Formula One (NASDAQ: FWONA), which lost more than 14% early Tuesday, after closing 3.6% up on Monday. While no immediate reason could be identified for the sudden fall in the price of the British company’s stock price, it released its second-quarter results last week. Earnings declined to seven cents per share from 24 cents in the second quarter of 2021.

Massachusetts-based online automotive shopping platform CarGurus, Inc. (NASDAQ: CARG) slipped 13.4% at the last check. The stock fell as a result of weak guidance that it had provided along with its second-quarter results released on Monday. For the third quarter, the company expects revenues to range from $460 million to $490 million and EPS to lie between $0.25 and $0.28. Both the projections are below the consensus estimate of $554.6 million and $0.33 per share, respectively.

Lastly, Weber, Inc. (NYSE: WEBR) was trading 12.2% up in Tuesday’s early trade. There is no company-specific news that can explain the uptrend. The outdoor cooking products maker is scheduled to release its fiscal third-quarter result on August 15. The Street expects Weber to record a loss of seven cents per share, compared to a profit of 33 cents in the year-ago quarter.

Continue to watch this space for possible volatility upon the market open. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…

Read full Disclosure

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More