TipRanks has compiled a list of Wednesday’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
Confluent, Inc. (CFLT) was the biggest gainer in pre-market trading, surging 15% at the time of writing. It seems that the volatility in the stock market has driven investor optimism. It is a new category of data infrastructure designed to connect all the applications, systems, and data layers of a company around a real-time central nervous system.
HighPeak Energy, Inc. (HPK) jumped 14.2% in pre-market trading at last watch. Though there is no company-specific news explaining the trading frenzy of this oil and natural gas company, it seems that CNBC’s Jim Cramer gave some encouraging comments on Tuesday and ignited investor optimism. “If you believe the price of oil can stay elevated here, possibly because the war in Ukraine will turn into a drawn-out stalemate, then you’ll likely get more upside out of an aggressive oil producer like HighPeak Energy,” Cramer opined.
Meanwhile, Hillman Solutions Corp. (HLMN), a provider of hardware products and merchandising solutions, lost 7.55% in pre-market trading at the time of writing. The downward movement in price followed the company’s preliminary first-quarter 2022 results and announcement of a common stock secondary offering. Net sales for the quarter rose to $363 million compared to $341.3 million in the prior-year quarter, while adjusted EBITDA stood at $44 million, down from $47.8 million in the prior-year quarter. The company increased the offering from 10 million to 13 million shares at a price of $10 per share.
Delta Air Lines, Inc. (DAL) surged almost 7% in the pre-market session at the time of writing, after increasing more than 1% at Tuesday’s close. Positive sentiment followed the smaller-than-expected Q1 2022 loss, upbeat revenues, and a strong June quarter outlook. For Q2 2022, Delta Air expects total revenue to reflect growth in the range of 93% to 97%, with about 84% capacity. Operating margin is likely to land between 12% and 14%.
American Airlines (AAL) also climbed about 5.25% Wednesday morning, as the flagship carrier benefitted from the rebound in travel and rising airfare prices.
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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