Using TipRanks’ Top Stock Gainers/Losers tool, we’ve compiled a list of the biggest stock moves ahead of Thursday’s market, which looks like this:
Five Biggest Movers
AMTD IDEA Group (NYSE: AMTD) topped the list with its shares down 25.1% early Thursday. Shares of the Hong Kong-based company closed down 10.7% on Wednesday. Although there is no specific reason for this downward movement, it seems that the decline in the share price of its subsidiary, AMTD Digital Inc., has had an impact on AMTD stock.
Shares of biopharmaceutical company Global Blood Therapeutics, Inc. (NASDAQ: GBT) were trading up 17.9% in Thursday’s pre-trade session. The rise may have been triggered by a Bloomberg report that the company was being considered for a possible takeover.
Confluent, Inc. (NASDAQ: CFLT), a data streaming platform, was trending up 17.7% early Thursday on strong results for the second quarter of 2022. The company posted record revenue of $139.4 million , up 58% year-over-year, beating expectations of $131.1 million. Adjusted net loss came in at 16 cents per share, narrower than the consensus estimate of 19 cents per share.
Next on the list is Revolve Group, Inc. (NYSE: RVLV), which was down 16.3% at the time of writing. The decline was triggered by weak second-quarter 2022 results. The Los Angeles-based fashion retailer posted earnings of 22 cents per share and total net sales of $290.1 million in the reporting quarter. Analysts had expected the company to post earnings of 31 cents per share.
Shares of electric vehicle maker Lucid Group, Inc. (NASDAQ: LCID) plunged 12.1% in early trading Thursday. The company’s share price decline was due to its disappointing second-quarter revenue and its 2022 production guidance. Lucid reported revenue of $97.3 million versus the consensus estimate of $145 million. dollars for the quarter. For the year 2022, the company plans to manufacture 6,000 to 7,000 cars against 12,000 to 14,000 cars planned earlier.
Keep watching this space for possible volatility as the market opens. Tomorrow we will have another updated piece on pre-market movers in stock…
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