Why DatChat Shares Are Trading Lower By Around 33%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
DatChat, Inc. (NASDAQ:DATS) shares plummeted by approximately 33% in pre-market trading due to the announcement of a proposed underwritten public offering of common stock. Other stocks experienced significant movement in pre-market trading, with some notable gainers including RiskOn International, Inc. (NASDAQ:ROI), Meta Materials Inc. (NASDAQ:MMAT), and Solid Power, Inc. (NASDAQ:SLDP), while losers included Phunware, Inc. (NASDAQ:PHUN) and Remark Holdings, Inc. (NASDAQ:MARK).
January 17, 2024 | 1:18 pm
News sentiment analysis
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NEGATIVE IMPACT
DatChat shares dropped sharply by 33.1% to $2.13 in pre-market trading following the announcement of a proposed public offering of common stock.
Public offerings often dilute existing shares, leading to negative investor sentiment and a potential drop in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Remark Holdings, Inc. shares fell 21.4% to $0.5324 in pre-market trading after a 48% jump on Tuesday.
Stocks that experience large gains are often subject to price corrections as traders take profits.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
Phunware, Inc. shares plummeted 58.7% to $0.1735 in pre-market trading after announcing a $7.0 million registered direct offering priced at-the-market under Nasdaq rules.
Registered direct offerings can lead to dilution of shares and often result in negative sentiment among investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Meta Materials Inc. shares jumped 33.2% to $0.0966 in pre-market trading following a 20% surge on Tuesday.
The continuation of a previous day's surge often indicates strong market momentum and investor confidence.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
RiskOn International, Inc. shares surged 51.3% to $0.2250 in pre-market trading without a clear catalyst mentioned in the article.
The significant pre-market increase could attract investor attention, but without specific news, the impact may be short-lived.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Solid Power, Inc. shares gained 15.1% to $1.37 in pre-market trading after deepening its partnership with SK On with three new agreements.
New partnership agreements are typically viewed positively as they can lead to future growth and revenue opportunities.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90