TipRanks has compiled a list of Friday’s biggest pre-market stock movements.
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Using TipRanks’ new Top Stock Gainers/Losers page, we’ve identified the top five pre-market stock movers, as detailed below.
5 Biggest Movers
DocuSign, Inc. (DOCU), a provider of cloud-based electronic signature solutions, was the biggest laggard in pre-market trading, recording losses of 25.3% at the time of writing. Negative sentiment followed disappointing first-quarter Fiscal 2023 earnings despite a revenue beat. Additionally, for Fiscal Q2 2023, DocuSign expects revenue to land between $600 million and $604 million, which came in at the low end of analysts’ expectations of $601 million.
Meanwhile, LXP Industrial Trust (LXP) gained 10.34% in pre-market trading at the last check. There is no fundamental news explaining the trading frenzy.
New Oriental Education & Technology Group Inc. (EDU) gained around 9.4% in pre-market trading at the time of writing, after recording losses of 14.77% at yesterday’s close. Though there is no company-specific news explaining the volatility, recent upgrades in the company’s ratings by analysts could be cited as the reason.
GoodRx Holdings, Inc. (GDRX) plunged 8.3% in pre-market trading at last glance, after recording losses of almost 6% at Thursday’s close. There is no company-specific news to explain the trading frenzy. Nevertheless, the recent rating downgrade on the stock to a Hold from a Buy by Goldman Sachs analyst Eric Sheridan seems to have raised investor anxiety. Sheridan also decreased the price target to $9 from $12. GoodRx provides prescription drugs at affordable prices through its digital healthcare platform.
Bank OZK (OZK) completes the list. It surged 7.53% in pre-market trading at the time of writing. There is no fundamental explanation for the uptrend.
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