TipRanks has compiled a list of Tuesday’s biggest pre-market stock movements.
Mixed market sentiment, acquisition moves, earnings releases, and positive clinical updates, along with some other variables, seem to have dominated today’s stock market.
Using TipRanks’ new Top Stock Gainers/Losers page, we’ve picked the top 5 pre-market stock movers, as explained below.
5 Biggest Movers
Summit Materials, Inc. (SUM) was the biggest laggard in the pre-market trading, with the stock sliding over 20% at the time of writing. There is no fundamental news explaining the trading frenzy of this construction materials company.
Meanwhile, in the pre-market session, Silvergate Capital Corporation (SI) was the biggest gainer, as the stock gained 11.4% at last watch. The stock price jump followed the announcement of the acquisition of intellectual property and other technology assets from the Diem Group in a cash-and-stock deal worth $182 million. These assets are associated with running a blockchain-based payment network, which is likely to enhance the company’s existing stablecoin infrastructure. Silvergate provides innovative financial infrastructure solutions and services for the growing digital currency industry.
Another gainer, ImmunityBio, Inc. (IBRX), jumped 6.7% at the time of writing. The clinical-stage immunotherapy company revealed positive clinical study results for its ‘Kick and Kill’ HIV cure strategy to reduce HIV viral load with Anktiva (N-803) therapy, boosting investors’ confidence.
Ozon Holdings PLC (OZON), which is a multi-category e-commerce platform, gained over 6% at the time of writing, without any fundamental news explaining the uptrend.
Rounding off the list, UBS Group AG (UBS) rose 5.8% and is now trading at $19.75. The price jump was backed by the stupendous annual profit, the highest reported by the Swiss bank since the 2006 global financial crisis. The investment bank also disclosed a capital deployment plan, including share buybacks, dividends, and strong targets, giving investors a reason to rejoice.
Continue to watch this space. Tomorrow, we’ll have another up-to-date piece on stock Pre-Market Movers…
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