Why Wix.com Shares Are Trading Higher By 7%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
Wix.com Ltd. (NASDAQ:WIX) shares rose 6.9% in pre-market trading after the company posted better-than-expected Q1 earnings and raised its 2024 forecast. Other notable pre-market movers include MultiMetaVerse Holdings Limited (NASDAQ:MMV), Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE), and GT Biopharma, Inc. (NASDAQ:GTBP).
May 20, 2024 | 12:09 pm
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POSITIVE IMPACT
Faraday Future Intelligent Electric Inc. shares gained 79.6% in pre-market trading ahead of its Q4 and full-year 2023 results announcement.
The substantial pre-market gain is likely driven by investor anticipation of the upcoming earnings report, suggesting positive expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 50
POSITIVE IMPACT
GT Biopharma, Inc. shares rose 51.4% in pre-market trading after posting a narrower-than-expected quarterly loss.
The positive market reaction is due to the company's better-than-expected quarterly loss, which likely boosts investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
MultiMetaVerse Holdings Limited shares gained 98.4% in pre-market trading after a 16% rise on Friday.
The significant pre-market gain follows a notable rise on Friday, indicating strong investor interest and momentum.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Wix.com Ltd. shares rose 6.9% in pre-market trading after the company posted better-than-expected Q1 earnings and raised its 2024 forecast.
Wix.com reported adjusted earnings of $1.29 per share, beating market estimates of $1.03 per share, and quarterly sales of $419.776 million versus expectations of $417.837 million. The positive earnings surprise and raised forecast are likely to boost investor confidence.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100