TipRanks has compiled a list of Tuesday’s biggest pre-market stock movements.
Today’s stock market is dominated by mixed market sentiment on company-specific news, macro factors, 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
Alibaba Group Holding Limited (BABA) was the biggest gainer in pre-market trading, jumping around 8.75% at last watch. The positive sentiment followed the company’s revelation of upsizing its share buyback program to $25 billion from the existing $15 billion. Alibaba is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology.
Meanwhile, Dave Inc. (DAVE), a provider of a suite of personal finance software and services, declined in pre-market trading, recording losses of around 12.92% at the time of writing. The company reported a net loss of $15.2 million in the fourth quarter of 2021 and a negative adjusted EBITDA of $12.6 million. For 2022, total adjusted operating revenue is forecast in the range of $200 million to $230 million.
KE Holdings Inc. (BEKE) climbed 8.3% in the pre-market session at the time of writing. The upward movement followed a 14.1% drop in price at Monday’s close. The company has no fundamental news to explain the trading frenzy. It operates an integrated online and offline platform for housing transactions and services in the People’s Republic of China.
Okta, Inc. (OKTA), a publicly-traded identity and access management company, dove 7.8% in pre-market trading at the time of writing. This drop followed the claim by hacking group LAPSUS$ that it had entered into Okta’s internal systems and subsequently posted images on social forums. Meanwhile, preliminary investigation by the company found “no evidence of any ongoing malicious activity.” According to the company, the screenshots posted seem to be associated with a previous security incident that occurred in January and has already been resolved.
China-based operator of an Internet of Things (IoT) cloud platform-as-a-service firm, Tuya Inc. (TUYA) completes the list. It jumped 6.7% in pre-market trading, at last watch. The upward movement followed a 5% drop in price at Monday’s close. Though the company has no fundamental news to explain the trading frenzy, it seems that macro issues have led to volatility.
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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