12 Information Technology Stocks Moving In Wednesday's After-Market Session
Portfolio Pulse from Benzinga Insights
In Wednesday's after-market session, several IT stocks experienced movement. Akerna, BTCS, Presto Automation, Akoustis Technologies, Expensify, and Digi Intl saw gains, with Digi Intl's rise attributed to its Q1 earnings report. Conversely, Infobird Co, MaxLinear, Cemtrex, Inuvo, Oblong, and Wolfspeed faced declines, with MaxLinear and Wolfspeed's drops linked to their Q4 and Q2 earnings releases, respectively.
January 31, 2024 | 9:30 pm
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NEGATIVE IMPACT
Cemtrex's stock declined by 7.32% to $3.8, with a market cap of $4.0 million.
The drop in after-market trading could reflect negative sentiment, and the low market cap suggests the stock may be more susceptible to volatility.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Infobird Co's shares dropped by 25.0% to $1.02, with a market cap of $7.6 million.
The substantial decline in after-market trading indicates a negative short-term impact, possibly due to investor reactions to broader market conditions.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Inuvo's shares fell by 7.05% to $0.38, with a market value of $52.7 million.
The decrease in after-market trading may indicate short-term negative sentiment among investors.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
MaxLinear's stock fell by 8.94% to $18.96 following its Q4 earnings release, with a market cap of $1.5 billion.
The negative post-earnings reaction suggests a bearish short-term impact, despite the company's significant market capitalization.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Oblong's stock decreased by 6.5% to $0.19, with a market value of $3.1 million.
The after-market decline suggests a negative short-term impact, and the very small market cap indicates a high-risk profile.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Wolfspeed's shares declined by 4.77% to $31.0 after its Q2 earnings, with a market cap of $3.8 billion.
The negative response to the Q2 earnings indicates a bearish short-term impact, even though the company has a substantial market capitalization.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Akoustis Technologies' shares increased by 4.98% to $0.6, with a market cap of $59.3 million.
The after-market rise may be driven by investor optimism, but the impact could be limited by the company's relatively small market capitalization.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
BTCS shares increased by 5.62% to $1.69, with a market cap of $24.2 million.
The after-market gain indicates positive sentiment, potentially due to broader interest in crypto-related stocks.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Digi Intl's stock rose by 4.89% to $25.5 after its Q1 earnings report, with a market cap of $923.0 million.
The positive reaction to the Q1 earnings report suggests a favorable short-term impact on the stock price, with a relatively high market cap indicating stability.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Expensify's shares went up by 4.93% to $1.7, with a market cap of $142.3 million.
The increase in after-market trading suggests a positive short-term outlook, supported by a moderate market cap.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Akerna's shares rose by 8.5% to $0.38, with a market cap of $3.9 million.
The significant percentage increase in after-market trading suggests a positive short-term impact, although the small market cap indicates limited liquidity and higher volatility.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Presto Automation's stock rose by 5.02% to $0.23, with a market cap of $15.4 million.
The stock's increase in the after-market session could reflect short-term trading interest, though the small market cap may imply higher risk.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80