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These Stocks are the Biggest Pre-Market Movers on Tuesday

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Let’s understand why DNA, NU, COMP, ASTS, and NYT stocks were the major market movers in Tuesday’s pre-market trading session.

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 Ginkgo Bioworks Holdings, Inc. (NYSE: DNA), which rose 16.1% early Tuesday. The upside might have been triggered by the company’s encouraging second-quarter 2022 earnings results. Revenues rose a whopping 231% year-over-year to a record $145 million in the June quarter, outpacing expectations of $77.63 million. The company also upwardly revised its full-year 2022 revenue expectations to $425-$440 million from $375-$390 million.

NY-based Compass, Inc. (NYSE: COMP) was trading 13.5% down at the last check. Shares of the tech-enabled real estate brokerage are declining on the back of disappointing second-quarter 2022 earnings results. Revenues during the quarter grew 4% year-over-year to $2 billion but missed analysts’ estimate of $2.12 billion. The company’s net loss came in at 24 cents per share against the year-ago loss of 2 cents per share and the consensus net loss estimate of 17 cents per share.

Shares of digital banking platform Nu Holdings Ltd. (NYSE: NU) were trending 11.9% higher at the time of writing. NU stock was up 10.1% in yesterday’s trading session after Japanese conglomerate and tech investor SoftBank announced to purchase 22 million shares of the company worth nearly $82.3 million. Further, the company reported strong second-quarter 2022 earnings results, after the market close. It saw a 230% year-over-year surge in total revenues to $1.2 billion, beating analysts’ expectations of $907.82 million.  

Shares of AST SpaceMobile, Inc. (NASDAQ: ASTS) were down 10.9% in Tuesday’s pre-market trading session. However, the stock was up nearly 9.6% in the normal trading hours on Monday. Although investors are upbeat about the company launching a satellite in mid-September, AST’s business updates for the second quarter of 2022 failed to keep their interest intact, due to increasing costs.

Last on the list is The New York Times Company (NYSE: NYT), which was trading almost 9.7% down in the pre-market session on Tuesday. There seems to be no specific reason that could have triggered the downside in the stock. However, a few days ago, shares of the American mass media company were rising after activist investor ValueAct disclosed a 6.7% stake in the company.

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…

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