Why Modular Medical Shares Are Trading Higher By Around 29%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
Modular Medical, Inc. (NASDAQ:MODD) shares surged 29.1% in pre-market trading following FDA clearance of its MODD1 insulin pump. Other notable pre-market movers include Eastside Distilling, Inc. (NASDAQ:EAST) with a 177.2% gain due to a merger announcement, and C3.ai, Inc. (NYSE:AI) which fell 18.7% after releasing first-quarter results.
September 05, 2024 | 9:33 am
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POSITIVE IMPACT
Eastside Distilling's stock surged 177.2% in pre-market trading following the announcement of a merger with Beeline Financial Holdings, expanding into FinTech mortgage services.
The merger announcement with Beeline Financial Holdings is a strategic expansion into the FinTech sector, which is likely perceived positively by investors, resulting in a significant pre-market stock price increase.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Modular Medical's stock rose 29.1% in pre-market trading after the FDA cleared its MODD1 insulin pump, indicating strong investor confidence in the product's market potential.
The FDA clearance is a significant milestone for Modular Medical, likely boosting investor confidence and driving the stock price up. The 29.1% increase in pre-market trading reflects strong market optimism about the product's potential impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
C3.ai's stock fell 18.7% in pre-market trading after the company announced disappointing first-quarter results, indicating potential investor concerns over financial performance.
The significant drop in C3.ai's stock price is likely due to investor disappointment with the company's first-quarter results, suggesting concerns over its financial health and future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 85