Using TipRanks’ Top Stock Gainers/Losers tool, we have compiled a list of Thursday’s biggest pre-market stock movers, which is as follows:
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Five Biggest Movers
Wolfspeed, Inc. (NYSE: WOLF) topped the list by gaining 21.5% early Thursday. The upside might have been triggered by the company’s encouraging fourth-quarter Fiscal 2022 earnings results. Revenues rose 56.7% year-over-year to $228.5 million in the quarter, outpacing analysts’ expectations of $208 million. The company’s adjusted net loss of two cents per share was narrower than analysts’ loss estimates of 10 cents per share. Wolfspeed had posted a loss of 23 cents per share in the same quarter last year.
Shares of physician-focused platform Privia Health Group, Inc. (NASDAQ: PRVA) were trending 9.7% higher at the time of writing. There seems to be no significant reason that could have triggered the upside in the stock. Last week, the company posted impressive second-quarter 2022 earnings results. Total revenues rose 48.6% year-over-year, surpassing expectations by around 7.6%.
XP Inc. (NASDAQ: XP) was trading 7.7% down at the last check. Shares of the Brazil-based investment and brokerage firm have been declining since it reported disappointing second-quarter 2022 earnings results last week and was downgraded by J.P. Morgan to Neutral.
Shares of 10x Genomics, Inc. (NASDAQ: TXG) were down 6.8% in Thursday’s pre-market trading session. There seems to be no specific material reason that could have triggered the downside in the stock. Last week, the company posted disappointing second-quarter 2022 results. TXG’s net loss of 57 cents per share came in widen than analysts’ loss estimates of 39 cents per share.
Last on the list is digital solutions provider AMTD Digital, Inc. (NYSE: HKD), which was up almost 6.5% at the time of writing. The stock closed 3.3% higher on Wednesday. Shares of the Singapore-based company have been witnessing significant volatility since their listing on the New York Stock Exchange last month. HKD seems to be part of the retail-induced frenzy that initially catapulted its stock price to surprising high levels.
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…
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