TipRanks has compiled a list of Thursday’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.
Five Biggest Movers
Outdoor grill company Weber Inc. (WEBR), which offers accessories, gas grills, and consumables, was the biggest gainer in pre-market trading, recording gains of 8.92% at the last check. According to media reports, Weber is the stock with the highest short interest in the market at 58%, driving investor sentiment.
StoneCo Ltd. (STNE) jumped more than 7% in pre-market trading at last glance. There is no fundamental news explaining the trading frenzy.
Chinese EV maker Li Auto Inc. (LI) rose 6.47% in pre-market trading at last glance, after recording gains of 2.94% at Wednesday’s close. The company’s recent launch of its flagship smart SUV, Li L9, for families seems to have kept the momentum alive. Subsequently, analysts’ bullish stance on the stock drove optimism further.
Meanwhile, specialty retailer Bath & Body Works, Inc. (BBWI) declined 6.39% in pre-market trading at the time of writing. Hedge fund Trinity Street Asset Management LLP purchased 105,626 shares of the company’s stock worth $5.05 million. The disclosure of the purchase seems to have raised investor anxiety.
China-based KE Holdings Inc. (BEKE) completes the list. It surged 6.25% in pre-market trading at the time of writing. The positive sentiment seems to have followed the analyst’s bullish stance on the stock. Recently, Citigroup analyst Harry Chen initiated coverage of KE Holdings with a Buy rating and a price target of $22.50.
Chen commented, “Early beneficiary from market recovery; cash-rich B/S, +OCF & buyback protect downside; 90-day positive Catalyst Watch: As China’s top property agency platform (‘22E 31% share for existing homes), Beike should be an early gainer from a sales turnaround (est. flattish GTV in 2H), led by existing homes in T1/2 post easing and then a pick-up in new sales in 4Q.”
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.
