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Tag: GME

  • GameStop Corp. (GME) stock Plummets After Hours on Missed 2021 Earnings

    On March 17, GameStop Corp. (GME) declared its financial results for Q4 and full-year which ended on January 29, 2022. The company also announced its intention for the launch of the NFT marketplace by the end of Q2 fiscal 2022. Consequently, the stock plummeted down in the after-hours session on missed earnings.

    It seems investors were looking forward to the earnings with positive enthusiasm as the stock traded in the green during the regular session. GME closed the regular session with a gain of 0.97% at $87.70. The volume of the share exchanged remained above the average at 3.45 million. Following the results announcement, the stock reversed and entered the red as it declined by 8.04% in the after-hours. Hence, GME was trading at a value of $80.65 per share in the after-hours while 1.06 million shares exchanged hands.

    The multichannel video games, consumer electronics, and wireless services retailer, GameStop Corp. was founded in 1996.

    Source: Encyclopedia Britannica

    GME’s Latest Financial Results

    Q4 Overview

    In the fourth quarter ended January 29, the company had net sales of $2.254 billion against $2.122 billion in the year-ago quarter.

    Moreover, the company’s PowerUp Rewards Pro members reached 5.8 million in the quarter with an increase of 32% YOY.

    Additionally, GME formed new relationships with Alienware, Corsair, and Lenovo and partnered with Immutable X for supporting its NFT marketplace. The company also redesigned its app with an enhanced user interface and more functionality.

    Full-year Overview

    For the full year, GME reported net sales of $6.011 billion, against $5.090 billion in the previous year.

    Furthermore, the company had a net loss of $381.3 million in fiscal 2021, against $215.3 million in fiscal 2020.

    At the end of the year, the company had $1.271 billion in cash and cash equivalents and $915 million in inventory. Comparatively, the same were $635 million and $602.4 million at the end of fiscal 2020.

    In addition, the company also raised $1.67 billion in capital and eliminated its long-term debt except the French government’s Covid-19 associated.

    Partnership with Immutable X

    On February 3, the company announced entering into a partnership with Immutable X Pty Limited. Thus, resulting in up to $100 million funds in Immutable X’s IMX tokens. The companies plan to use the fund for grants to NFT content and technology creators. Added to this, Immutable X will provide up to $150 million in IMX tokens to GME upon the completion of certain milestones.

  • GameStop Corp. (GME) stock Soars High After Hours. What’s happening?

    On January 06, GameStop Corp. (GME) stock soared high in the after-hours on reports of its NFT plans. During the regular session, the stock traded in the green with a slight addition of 1.28% at its close of $131.03. Following the reports, the stock rallied big after hours to reach $160.50. The stock added a further 22.49% or $29.47 at a heavy volume of 2.62 million in the after hours.

    Founded in 1996, the video game retailer, GameStop Corp. is headquartered in Grapevine, TX. Currently, the company has a market capitalization of $9.88 billion with its 76.35 million shares outstanding. Moreover, the GME stock has subtracted 11.70% in the past five days while it added a huge 640.70% last year.

    What is going on with GME stock?

    According to The Wall Street Journal, the company is in the move for launching a business segment related to cryptocurrency and NFTs. Previously, GME’s CEO Matt Furlong had mentioned NFTs and crypto in a teaser last year. Furthermore, the company is also looking into partnerships with crypto companies for co-investment in developing games based on crypto and NFT tech. Currently, the company already has a website designed for NFTs.

    Given the popularity of Non-Fungible Tokens, these reports resulted in investors flocking towards the GME stock. Hence, the after-hours saw a huge volume of 2.62 million, which drove the stock up to reach $160.50. Consequently, the stock increased by a huge 22.49% in Thursday’s after-market session.

    Recent Developments

    On November 04, the company announced securing a new $500 million global asset-based revolving credit facility (ABL facility). The new oversubscribed ABL facility replaced the company’s existing facility of $420 million. The existing facility is due in November 2022. Further, the new facility not only provides enhanced liquidity but also reduced borrowing costs, has lighter covenants, and adds flexibility.

    In addition, the lead arranger for the facility was Wells Fargo Bank, N.A., which will also serve as the administrative agent for it.

    GME’s Financial Data

    On December 08, the company declared its financial results for the third quarter of 2021.

    According to the results, GME had net sales of $1.279 billion in the third quarter of 2021. This compares to $1.005 billion in the year-ago quarter.

    The company ended the third quarter of 2021 with cash and cash equivalents of $1.413 billion, on October 30.

  • GameStop Corp. (GME) stock rises in the Pre-Market: Why is it so?

    GameStop Corp. (GME) announced its expansion of North America Fulfillment and elimination of long-term debt after which the GME stock happened to be green in today’s pre-market on May 3, 2021, after bearing the fall in the previous trading session. GME stock saw a push of 1.30% to reach $175.85 a share at the time of this writing. GME stock went down by 1.48% at the previous closing. Let’s discuss the recent events of GME stock in detail.

    Expansion of Fulfillment Network:

    GME stock contracted for a 700,000 square foot fulfillment center in York, Pennsylvania in order to expand its North American fulfillment network to support transformation. This facility will support eCommerce and fulfillment needs and is expected to be operational by the fourth quarter of the year 2021. Management of GME stock is optimistic that its fulfillment center in York, Pennsylvania will pave the way for the growth of product offering of GME and accelerate the shipping process across the east coast.

    Elimination of long-term debt:

    GME stock today also announced its elimination from long-term debt according to which GME stock has completed its voluntary early redemption of $216.4 million of its 10.0% Senior Notes due 2023. This early redemption has covered all the principal amount of outstanding 10% senior notes which means that the GME stock has weaned itself from long-term depth. The freedom from the long-term debt will help GameStop stock to support future transformations and will strengthen the GME’s balance sheet.

    Completion of At-The-Market Equity Offering:

    On April 26, 2021, GME stock competed for its previously announced at-the-market equity offering program(ATM) pursuant to which GME stock sold 3.5 million shares of its common stock via the ATM offering. The aggregate proceeds resulting from this offering were totaled approximately $551 million without deducting the commissions and offering related expenses.Net proceeds will be used in GameStop’s transformation along with general corporate purposes as well as further strengthening of its balance sheet.

    Conclusion:

    Investors are responding to the recent couple of news related to GameStop’s expansion of  North America Fulfillment and elimination of its long-term debt. GameStop is now well-positioned for its transformation as well as to strengthen its balance sheet. In a nutshell, GME stock can be a good bet for investors in the long run.

  • GameStop Corp. (GME) stock popped high in Friday’s aftermarket: Why did it happen?

    Shares of GameStop Corp. (GME) stock popped high in the aftermarket session on Friday after Keith Gill, who is renowned as Roaring Kitty in social media, exercised his 500 call options to bought 50000 additional GME shares at a strike price of $12. GME was gloomy during the last trading session and closed with a 1.12% drop. Let’s deeply understand the current scenarios.

    Roaring Kitty helped the GME stock rise:

    Keith Gill, who is famous as Roaring Kitty on social media, posted the screenshot on Reddit which showed that he doubled down his bet by exercising 500 call options to bought additional 50000 shares of GME at a strike price of $12.His total investment in the GME stock has now reached 200,000 shares representing more than $30 million worth and $20 million profit. The screenshot posted was confirmed by his mother to Bloomberg.

    GameStop CEO news:

    George Sherman, the Chief Executive Officer of GameStop, has disposed of almost $12 million in shares with the proceeds earmarked by GME for the payment of compensation-related taxes. George Sherman is expected to leave the GameStop.He forfeited about 587,000 shares of $98 million worth after failing to meet the required performance targets.

    Key Information of GME stock

    GameStop is planning to move away from its brick-and-mortar business and for this purpose, the GME stock has added new executives for the growth of its business and advancement in its technology.GME shares skyrocketed 721% so far but were down more than half in the first month of this year.GME recently announced plans to retire senior notes due in two years in order to wean itself from debt.

    Conclusion:

    GME stock captivated the attention of investors amid the spread of the news related to purchasing additional shares of GME by Keith Gill. Following the current business trend, GME is more focused on the advancement of technology and online business. In a nutshell, investors eying GME stock need to do good research before adding this stock to their portfolio.

  • GameStop Corp. (GME) stock tumbles in Pre-Market today: Why did It happen?

    GameStop Corp. (GME) stock tumbles in Pre-Market today: Why did It happen?

    Shares of GameStop Corp. (GME), a leading gaming and entertainment platform, were tumbling in today’s pre-market trading session after the announcement of an equity offering by GME stock. GME price saw a downtrend of 13.03% to drop at $166.50 a share as of this writing. GME was green in the previous trading session and closed with a 0.86% gain with $191.45 per share price. GME also announced the Preliminary sales results of the first nine weeks of 2021 today. Let’s have a deep look at current scenarios.

    Equity Offering Plan:

    GME today on 5th April 2020 filed the prospectus supplement with U.S. Securities and Exchange Commission according to which GME stock would be able to sell a total of 3.5 million shares of its common stock from time to time via “at-the-market” equity offering program. The main purpose of this offering is to strengthen the balance sheet of GameStop by accelerating the process of its transformation and other general corporate purposes. GME would be offered by Jefferies LLC and its Sales price is subjective to the prevailing sale price in the market.

    Sales Performance of First Nine Weeks by GME stock

    The First nine-week period ends on April 4, 2021, and in this period, GME recorded an 11% increase in its global sales while as of February 27, 2021, these global sales were 5.3% high as compared to the four-week period of 2020 ended on February 29.18% increase in the global sales was observed in the last five weeks ended on April 4, 2021, as compared to the same period in the previous year.

    The restrictions imposed by the government due to COVID-19 have negatively impacted the GME in its operations across 14 countries. 13 % decrease in the store base in the Nine-week period of 2021 due to store optimization effort by GameStop mainly owes to these COVID-19 restrictions.

    Conclusion:

    Despite an increase in the global sales of GME stock in the latest nine-week period, GME stock is falling in response to the announcement of an equity offering program by GameStop. The previous record shows that GME stock soared over 1000% in the past three months. Hence GME stock can be a good bet in the long run but short-term investors need to do a lot of research before taking any decision.

  • GameStop Corp. (GME) Stock has skyrocketed in the Pre-Market: What’s happening?

    GameStop Corp. (GME) Stock has skyrocketed in the Pre-Market: What’s happening?

    GameStop Corp. (GME) shares have been on a skywalk. The videogame platform seller is captivating the attention in the market after recording a treble rise at one point in the premarket. As of 0741 GMT, the price was up more than 210% after rising as much as 240% earlier in the premarket. It recently closed at $91.71, fluctuating in a day’s range from $44.70 to $91.71. Let’s see what is the reason behind this bullish sentiment.

    What’s Happening?

    There is no single culprit behind this rise as the stock has been cited among investors in the social media after the resignation of GameStop Chief Financial Officer Jim Bell on Tuesday and rallied on Wall Street overnight after the European retail traders pushed the buying behavior.

    The Stock has now been a hot topic in the social media and trading platforms as one user called the trend “Marathon, not a Sprint” while another user expressed sorrow that he missed the GME for the first time and will never do this mistake again.

    On Wednesday GameStop U.S listed shares made a spectacular move and soared high upto 104% with several halts and continued to upswing in after hours.

    About a month ago GameStop received the perfect score of 100 on the Human Rights Campaign Foundation’s 2021 Corporate Equality Index. The company has recently initiated the search for a permanent Chief Financial officer to accelerate its tech transformation.

    Conclusion:

    The rise in the COVID pandemic has increased the overall demand in the game industry due to the availability of more leisure time to individuals but stocks like GameStop are continuously surging day by day even after the spread of vaccines. Considering the bullish sentiment, things have been working well for GME since after the resignation of Jim Bell, but no one knows when shares move high or low that’s why usually investors focus on long-term trends.

  • Early Morning Vibes: 4 Stocks You Should Watch Immediately

    Early Morning Vibes: 4 Stocks You Should Watch Immediately

    The S&P 500 rose 1.14% to 3,925 points yesterday while the Nasdaq 100 was up only 0.81%. Over the years, the Nasdaq 100 has actually become more volatile than the S&P 500. This higher beta now appears to have temporarily disappeared. In the article about sector rotation , you can read how you can apply the sector rotation to your portfolio yourself. The Dow Jones also rose noticeably more than the Nasdaq 100 and S&P 500 yesterday. The Dow closed at a new all-time high of 31,961 points, which was a daily result of plus 1.35%. The strong rise of heavyweights Boeing and Chevron was the basis here.

    In short, some of the money that is used to help people and companies in difficulty ends up on the stock exchange. Higher liquidity usually means higher stock market prices. Central bank policies have an inflationary effect on stocks and other assets such as real estate. The survey also shows that investors are extremely positive about the stock market. At the same time, we hear Charlie Munger, the strong man next to Warren Buffett, warn of a new bubble. This brings us straight to GameStop. The share of the American computer game retailer exploded again yesterday. 

    The roll-out of the vaccination program appears to be gaining momentum. An interesting study has taken place in Israel on the Pfizer-BioNTech vaccine. Of course we already know the results of the clinical studies, but it is always a question of how well the vaccines hold up in real situations. The Israeli study followed 1.2 million people of which nearly 600,000 received the Pfizer-BioNTech vaccine. 

    Two shots were administered. The scientists were surprised that the symptomatic effectiveness was 94%. Hospitalization fell by 87%.Moreover, a quarter of the people who were followed were over 60 years old. Experts expect that with such results, we can achieve global immunity when 60 to 70% of the population is vaccinated. Pfizer stock did not respond to the news.

    Today Top Movers

    Cross Country Healthcare Inc. (NASDAQ: CCRN) shares are trading up 27.04% at $12.78 at the time of writing after releasing fourth quarter and full year 2020 financial results. 

    Sundial Growers Inc. (SNDL) stock soared 11.72% to $1.62 in the pre-market trading. SNDL and Indiva Limited announce the closing of the previously announced $22,000,000 strategic investment (the “Investment”) into Indiva by Sundial. 

    AMC Entertainment Holdings Inc. (AMC) grew over 17.49% at $10.68 in pre-market trading today as the social media hype was created recently to influence investors sentiment. 

    GameStop Corp. (GME), a Specialty Retail company, rose about 57.56% at $144.5 in pre-market trading Thursday as on social media, a hype has been playing key role to affect investors with the intent of swaying their decision.

    Top Upgrades & Downgrades

    UBS turned bullish on AstraZeneca PLC (AZN), upgrading the stock to “Buy”. 

    Sunrun Inc. (RUN) has won the favor of Credit Suisse’s equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $79.0, suggesting 26.28% additional upside for the stock. 

    Banco Bilbao Vizcaya Argentaria S.A. (BBVA) received an upgrade from analysts at Jefferies. They changed their rating on BBVA to Buy from Hold in a recently issued research note. 

    Earlier Thursday Credit Suisse reduced its rating on Lennox International Inc. (LII) stock to Underperform from Neutral and assigned the price target to $285. 

    Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for NeoGenomics Inc. (NEO) has been changed to Equal Weight from Overweight and the new price target is set at $14. 

    Analysts at BMO Capital downgraded Chuy’s Holdings Inc. (CHUY)’s stock to Market Perform from Outperform Thursday.

    Latest Insider Activity

    Hess Corporation (HES) Chief Executive Officer HESS JOHN B announced the sale of shares taking place on Feb 23 at $66.73 for some 200,000 shares. The total came to more than $13.35 million. 

    Fortive Corporation (FTV) SVP – Human Resources Walker Stacey A. sold on Feb 23 a total 24,259 shares at $67.23 on average. The insider’s sale generated proceeds of almost $0.12 million. 

    Chevron Corporation (CVX) Director HEWSON MARILLYN A declared the purchase of shares taking place on Feb 18 at $95.21 for some 3,200 shares. The transaction amount was around $0.3 million. 

    AIM ImmunoTech Inc. (AIM) CEO & President EQUELS THOMAS K. bought on Feb 24 a total 209,630 shares at $2.26 on average. The purchase cost the insider an estimated $25,000.

    Important Earnings

    Top US earnings releases scheduled for today include Moderna Inc. (NASDAQ: MRNA). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$0.35 per share from revenues of $279.41M in the three-month period. 

    Analysts expect Plug Power Inc. (NASDAQ: PLUG) to report a net income (adjusted) of -$0.1 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $87.32M. 

    Southwestern Energy Company (SWN), due to announce earnings after the market closes today, is expected to report earnings of $0.14 per share from revenues of $701.09M recently concluded three-month period.

  • GameStop (GME) Stock Continues to Spike Days after the Appointment of Ryan Cohen

    GameStop (GME) Stock Continues to Spike Days after the Appointment of Ryan Cohen

    Is the bull run going to end anytime soon, or should you invest in GME now?

    Investors are having a good time if they have invested in GameStop (GME) stock earlier this month. The average trading volume is around 15.8 million—which shows that investors are betting highly on GME.

    The day traders are helping the stock to keep on pumping in the recent trading sessions. As we write this, GME has soared over 51% trading at $65—in the range of a 52-week high.

    But will the bullish run continue or will the stock retrieve in the coming days? The answer is that after a heavy push the day traders will take their profit and move out; GME is poised to drop in the next few days. But what does this mean for the long-term investors? Smart investing is when the price is dropping—buying the stock at a low could increase the profit margin.

    What’s happening?

    The reason for the recent bull is mainly powered by Citron backing away from the live stream. Earlier this week, Citron was to go live to discuss that why GameStop (GME) was heading back to $20. But later, the company pulled back due to some hacking concerns on Twitter, ending in bulls for GME.

    For now, this Twitter spat may continue to fire GME stock but ultimately things will cool down in a while.

    Talking about the operational depth of the company—in the Q3 report—its comparable-store sales soared by 16.5% for Nov. 2020. While the total net sales increased from $747.6 million to $791.1 million—from fiscal Nov. 2019.

    Moreover, the basic push that can drive GameStop in the long-term is its business performance. That is improving which is a good sign. Another important factor is the signing of Ryan Cohen as a member of CME’s board of directors. Ryan, who is the co-founder of the famous pet food retailer, Chewy will join GameStop’s board along with two other Chewy executives.

    Reportedly, Chewy’s co-founder wants things to accelerate at GameStop and he wants the company to adopt a more online strategy. With the three board seats on his side, Cohen can target this goal with more authority.

    The company updated that it gained 3.1% more sales during this year’s nine-week holiday season. This was good for the company because people were more driven towards e-commerce and relied more on online sales.

    In a recent SEC filing, it was unveiled that three directors sold GME’s stock with a total value of $2.7 million, while another director sold stock worth $17 million. Despite the insider selling of GME shares, the stock continued to jump, which can be a good sign.

    Conclusion

    Recently, GameStop (GME) has reported the growth of its sales which is good to start the new year with continuing growth. With the opening of stores and things coming to normal, we can expect the stock to perform well in this year. Most importantly, the appointment of Cohen is a very big move. If he intends to move towards the online system, things will get better for the company in the long-term.

  • Early Morning Vibes: 4 Hot Stocks to Buy Before Weekend

    Early Morning Vibes: 4 Hot Stocks to Buy Before Weekend

    On January 21, American stock exchanges traded in a narrow range. The S&P 500 index rose by a symbolic 0.03%, to 3853 points, the NASDAQ added 0.55%, the Dow Jones lost 0.04%. The news background remained calm. Macro statistics were mostly better than expected. Growth stocks outperformed value stocks, reflecting the outperforming tech sector, climbing 1.32%.

    Company news

    According to media reports, Apple (AAPL: + 3.7%) is developing a gadget for interacting with virtual reality. The release is scheduled for 2022.

    United Airlines (UAL: -5.7%) quarterly results were in line with expectations, but the outlook for the next quarter disappointed investors.

    Oil and gas infrastructure company Kinder Morgan (KMI: -2%) performed well, but analysts are awaiting additional information, including forecasts, to be disclosed at an investor day scheduled for January 27.

    President Joseph Biden signed executive orders that set the framework for a new strategy to combat the epidemic. In particular, it is planned to deploy numerous vaccination sites and attract more health workers to it. One of the main barriers to revitalizing the vaccination campaign is insufficient government funding. To address this problem, the $ 1.9 trillion stimulus package presented by Biden included at least $ 160 billion in spending. Republicans criticized certain points of the proposed program. which also accounts for the peak reporting season. In this regard, volatility in the short term will be increased.

    Economic news

    Markit’s preliminary PMIs for January are worth checking out this Friday. In the manufacturing sector, according to the forecast, the indicator will drop from 57.1 to 56.5. In the service sector, a more significant decline is expected – from 54.8 to 53.6. The projected slowdown in business growth coincides with a short-term deterioration in the labor market. Overall, the pace of business recovery after the crisis remains satisfactory.

    Sentiment Index

    The Freedom Finance Sentiment Index climbed to 63 out of 100. The indicator reflects market participants’ hope for a global economic recovery in 2021. Concerns about the negative impact of the coronavirus pandemic are starting to wane thanks to the prospect of mass vaccinations.

    Technical picture

    Technically, the S&P 500 is showing an upward bias in the medium term. The relative strength of buyers prevails, but the upper border of the equidistant channel at 3860 points is a serious resistance. In this regard, short-term consolidation is quite possible.

    Today Top Movers

    ‎Adamis Pharma (ADMP) gained over 76.38% at $2.24 in pre-market ‎trading on Friday following an announcement from the firm that its SYMJEPI® (epinephrine) Injection products are now available to members of the Walgreens Prescription Savings Club program, for a discounted price of $99.99 for a two-pack‎‎.‎ ‎‎

    ‎Sierra Wireless Inc. (SWIR) grew over 7.61% at $19.80 in pre-market trading ‎today after the company received a bullish initiation from Wall Street. B. Riley Securities kicked off coverage of Sierra Wireless with a buy rating alongside a price target of $23.50”.‎‎‎ ‎‎

    ‎Zynga Inc (ZNGA) stock moved up 1.45 percent to $10.50 in the pre-market ‎trading. The electronic gaming & multimedia company is making headlines on Thursday as multiple news sources and traders circulate a TMT Finance report that Tencent (TCEHY) is considering finance for a large acquisition.‎‎‎ ‎‎

    ‎GameStop Corp (GME) is up more than 4.95% at $45.16 in pre-market ‎hours ‎Friday after news of the joining of Chewy founder and activist investor Ryan Cohen and two of his associates to GameStop’s board of directors. ‎‎

    Top Upgrades & Downgrades

    Keefe Bruyette turned bullish on Northern Trust Corporation (NTRS), upgrading the stock to “Outperform” and assigning a $120 price target, representing a potential upside of 27.36% from Thursday’s close. 

    Quidel Corporation (QDEL) has won the favor of Raymond James’s equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $250.0, suggesting 14.42% additional upside for the stock.

    PacWest Bancorp (PACW) received an upgrade from analysts at Keefe Bruyette, who also set their one-year price target on the stock to $40. They changed their rating on PACW to Outperform from Market Perform in a recently issued research note.

    Earlier Friday Stifel reduced its rating on CSX Corporation (CSX) stock to Hold from Buy and assigned the price target to $92. With shares trading at around $91.61, the Wall Street firm thinks CSX Corporation’s stock could add than 0.42%.

    Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Regis Corporation (RGS) has been changed to Hold from Buy and the new price target is set at $10.

    Analysts at BMO Capital downgraded Sage Therapeutics Inc. (SAGE)’s stock to Market Perform from Outperform Friday.

    Latest Insider Activity

    BlackBerry Limited (BB) EVP, Ent. Products & VAS HO BILLY announced the sale of shares taking place on Jan 20 at $12.95 for some 20,000 shares. The total came to more than $0.26 million.

    General Motors Company (GM) Executive Vice President & CIO MOTT RANDALL D sold on Jan 19 a total of 89,427 shares at $53.69 on average. The insider’s sale generated proceeds of almost $1.34 million.

    Petco Health and Wellness Company Inc. (WOOF) Chief Inf. & Admin. Officer Zavada John declared the purchase of shares taking place on Jan 19 at $18.00 for some 1,500 shares. The transaction amount was around $27000.

    Barnwell Industries Inc. (BRN) 10% Owner SHERWOOD NED L bought on Jan 20 a total 1,236,818 shares at $1.85 on average. The purchase cost the insider an estimated $34,969.

    Important Earnings

    Top US earnings releases scheduled for today include Schlumberger Limited (NYSE: SLB). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.17 per share from revenues of $5.25B in the three-month period.

    Analysts expect Huntington Bancshares Incorporated (NASDAQ: HBAN) to report a net income (adjusted) of $0.29 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $1.25B.

    Regions Financial Corporation (RF), due to announce earnings after the market closes today, is expected to report earnings of $0.42 per share from revenues of $1.56B recently concluded three-month period.

  • 24 stocks trending in pre-market

    ‎Ocugen Inc. (OCGN) stock soared 77.6% to $1.43 in the pre-market trading after ‎signing a binding letter of intent (LOI) with Bharat Biotech to develop Bharat Biotech’s COVID-19 ‎vaccine candidate, COVAXIN, for the United States market.‎

    ‎Sundial Growers Inc. (NASDAQ: SNDL) shares are trading up 1.25% at $0.486 at the ‎time of writing after announcing completion of financial restructuring and debt-free status. Company’s ‎‎52-week ranged between $0.14 to $3.88. COVID-19 Pandemic – The government presents its daily ‎update.‎

    ‎Jaguar Health Inc. (JAGX), a Biotechnology company, rose about 55.89% at $0.617 in ‎pre-market trading Wednesday after releasing voting results from special meeting of stockholders & ‎December 23rd investor webinar.‎

    ‎FuelCell Energy Inc. (FCEL) stock moved up 8.42 percent to $11.65 in the pre-market ‎trading.‎

    ‎Onconova Therapeutics Inc. (ONTX) gained over 32.93% at $0.57 in pre-market ‎trading Wednesday December 23, 2020 following the announcement of FDA permission for study to ‎proceed under its investigational new drug application for multi-kinase CDK4/6 Inhibitor ON 123300.‎

    ‎Castor Maritime Inc. (CTRM) is up more than 2.39% at $0.1585 in pre-‎market ‎hours ‎Wednesday December 23, 2020. The stock had dropped over -2.33% to $0.15 in the ‎last ‎trading ‎session.‎

    ‎Riot Blockchain Inc. (RIOT) is down more than -4.4% at $14.0 in pre-market hours ‎Wednesday December 23, 2020 after reporting an expected 65% increase in bitcoin mining hash rate ‎capacity resulting from the purchase and future deployment of 15,000 S19 Pro and S19j Pro Antminers ‎from Bitmain Technologies Limited .The stock had jumped over 32.65% to $14.65 in the last trading ‎session.‎

    Before the trading started on December 23, 2020, Ideanomics Inc. (IDEX) is up ‎‎4.21% to reach $2.23. It has been trading in a 52-week range of $0.28 to $4.75.‎

    ‎Aurora Mobile Limited (JG) tumbled over -1.46% at $4.72 in pre-market trading ‎today after reporting that it has entered into a partnership agreement a global leading new energy ‎vehicle manufacturer to deliver an enhanced intelligent driving experience.‎

    ‎Velodyne Lidar Inc. (VLDR) is up more than 6.21% at $29.08 in pre-market hours ‎Wednesday December 23, 2020 after revealed the joining of the Qualcomm smart cities accelerator ‎program. The stock had jumped over 10.94% to $27.38 in the last trading session.‎

    ‎Magnite Inc. (NASDAQ: MGNI) shares are trading up 17.21% at $31.81 ‎at ‎the ‎time ‎of ‎writing. Company’s 52-week ranged between $4.09 to $26.63. Analysts have ‎a ‎consensus ‎price ‎target ‎of $30.‎

    ‎Sorrento Therapeutics Inc. (SRNE) grew over 10.66% at $7.99 in pre-market trading ‎today after declaring that it has submitted an emergency use authorization application to the FDA for ‎COVI-STIX™ rapid test for the detection of SARS-CoV-2 Viral Antigen.‎

    ‎UP Fintech Holding Limited (TIGR), a Capital Markets company, dropped about -‎‎2.79% at $7.66 in pre-market trading Wednesday.‎

    ‎Energous Corporation (WATT) stock moved up 13.98 percent to $2.12 in the pre-‎market trading following the declaration from the company that current board director Dan Fairfax has ‎been named chairman of the board as current Chairman Robert J.‎

    ‎Acasti Pharma Inc. (ACST) stock soared 25.92% to $0.3148 in the pre-‎‎‎‎market ‎trading. ‎The most recent rating by Oppenheimer, on September 01, 2020, is a Perform.‎

    ‎Tonix Pharmaceuticals Holding Corp. (TNXP) gained over 5.15% at $0.6008 in pre-‎market trading Wednesday December 23, 2020 after revealing an agreement whereby Tonix has ‎acquired the exclusive license to the University of Geneva’s technology for using oxytocin to treat ‎insulin resistance and related syndromes, including obesity, from privately held Katana ‎Pharmaceuticals, Inc.‎

    ‎BP p.l.c. (BP) is up more than 2.34% at $20.96 in pre-market hours Wednesday ‎December 23, 2020. The stock had dropped over -0.97% to $20.48 in the last trading session.‎

    Before the trading started on December 23, 2020, Evofem Biosciences Inc. (EVFM) ‎is up 6.61% to reach $2.58 after reporting that it will participate in Medicaid National Drug rebate ‎program for Phexxi® Effective January 1, 2021. It has been trading in a 52-week range of $1.91 to $7.21.‎

    ‎Cloudera Inc. (CLDR) is up more than 5.6% at $15.46 in pre-‎‎‎‎‎market ‎hours ‎Wednesday December 23, 2020. The stock had jumped over 13.31% ‎to ‎‎$14.64 ‎in ‎the ‎last ‎trading ‎session.‎

    ‎Advaxis Inc. (ADXS) stock soared 39.07% to $0.4357 in the pre-market trading ‎following the announcement of listing transfer to Nasdaq Capital Market and additional 180-day ‎eExtension by Nasdaq to regain compliance with minimum bid price rule.‎ The most recent rating by ‎Barclays, on August 03, 2016, is an Overweight. ‎

    ‎Nikola Corporation (NASDAQ: NKLA) shares are trading down -2.97% at $16.33 at ‎the time of writing after reporting that Nikola and Republic Services (NYSE: RSG) have discontinued ‎their collaboration on refuse truck development. Company’s 52-week ranged between $10.30 to ‎‎$93.99. Analysts have a consensus price target of $20.‎

    Before the trading started on December 23, ‎‎2020, ‎‎Oragenics ‎Inc. ‎‎(OGEN) ‎is ‎up ‎‎8.3% ‎to reach $0.4841. It has been trading in a 52-‎week ‎range of $0.36 to ‎‎$2.09.‎

    ‎Bionano Genomics Inc. (BNGO) grew over 1.45% at $0.56 in pre-market trading ‎today after reporting publication revealing in side-by-side comparison that method using PacBio ‎sequencing detects only 72% of the large structural variants detected by Optical Genome Mapping ‎with Saphyr.‎

    ‎Palatin Technologies Inc. (PTN) gained over 7.96% at $0.61 in pre-‎‎‎‎‎‎‎market ‎trading ‎Wednesday December 23, 2020.‎