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These Stocks are the Biggest Pre-Market Movers on Wednesday

TipRanks has compiled a list of Wednesday’s biggest pre-market stock movements. 

Today’s stock market is influenced by earnings releases, positive market sentiment, and other variables. 

Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top 5 pre-market stock movers, as explained below. 

5 Biggest Movers 

In the pre-market session, F5, Inc. (FFIV) was the biggest laggard as the stock dropped 14.2% at the time of writing. Though the company reported upbeat Fiscal first-quarter 2022 results, management warned of supply chain constraints, which will prevent it from meeting customers’ continued strong demand for systems. Additionally, the company reduced revenue growth expectations for the Fiscal Year 2022 to a range of 4.5% to 8%, down from the prior expectations of 8% to 9% growth, increasing investors’ concerns. The company is engaged in the development and provision of software-defined application services. 

Marqeta, Inc. (MQ) was one of the top gainers. On Wednesday, the stock jumped 11.8% in pre-market trading and is now trading at over $12.50. This California-based modern card-issuing platform, which empowers businesses such as Affirm, DoorDash, Instacart, Klarna, and Square to create customized payment cards, had no fundamental news to explain the trading frenzy. 

Another gainer, CarGurus, Inc. (CARG), surged almost 10% in pre-market trading, at the last watch. There is no fundamental news supporting the stock price jump of this automotive research and shopping website. 

Magnolia Oil & Gas Corporation (MGY) follows suit, as the stock gained more than 9% at the time of writing, without any fundamental news explaining the uptrend. Headquartered in Houston, TX, the company is engaged in the oil and gas exploration and production business. 

Sports betting company DraftKings Inc. (DKNG) completes the list. In pre-market trading, the stock rose almost 8% and is now trading at $20.84. Though there is no specific news to explain today’s price jump, it might be due to the positive sentiment driven by the company’s dominance in the U.S. sports gambling market. Sports betting was finally been legalized in New York, recently. 

Continue to watch this space. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…

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