Why BlackBerry Shares Are Trading Lower By Over 5%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
BlackBerry Limited (NYSE:BB) shares dropped over 5% in pre-market trading despite reporting Q3 earnings of 1 cent per share, beating the expected loss of 3 cents per share. The company anticipates Q4 revenue between $150 million to $159 million. Other stocks experienced significant movements in pre-market trading, with Infrared Cameras Holdings Inc. (NASDAQ:MSAI) and Mobile Global Esports Inc. (NASDAQ:MGAM) among the top gainers, while Polished.com Inc. (NYSE:POL) and Nogin, Inc. (NASDAQ:NOGN) were among the biggest losers.
December 21, 2023 | 12:46 pm
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NEGATIVE IMPACT
BlackBerry's stock fell over 5% in pre-market trading despite surpassing earnings estimates for Q3, with a positive earnings report but potentially underwhelming Q4 revenue guidance.
BlackBerry's stock price is likely to go down in the short term due to the market's reaction to the Q4 revenue forecast, which may have disappointed investors despite the positive earnings surprise for Q3.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Nogin, Inc. shares dropped 28.6% in pre-market trading after a 30% decline on Wednesday.
NOGN's continued pre-market decline suggests ongoing bearish sentiment, potentially extending the previous day's losses.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Polished.com Inc. shares plummeted 40.3% in pre-market trading following a 618% surge on Wednesday.
The drastic pre-market decline in POL's stock price could be a result of profit-taking following the previous day's extreme rally.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Mobile Global Esports Inc. gained 53.4% in pre-market trading after a 4% decline the previous day.
MGAM's pre-market gain suggests a positive short-term momentum, potentially as a reaction to the previous day's drop.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Infrared Cameras Holdings Inc. saw a significant pre-market increase of 213% after a previous day's drop of over 61%.
The sharp increase in MSAI's pre-market trading could indicate a strong short-term bullish sentiment, possibly due to a market correction following the previous day's significant loss.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50