| | | September 22, 2023 Hey traders! It's Michael here with the Stock Dork Cheat Sheet: Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks! Happy Friday! It's September 22nd. I hope you have a great weekend. Now, let's get ready to trade! |
| Stocks continued their slide on Thursday, with steep losses for large-cap indexes. The Nasdaq lost 1.8%, while the S&P 500 fell 1.6%, and the Dow lost 1.0%. The small-cap Russel 2K was a middle-of-the-road performer with a 1.5% gain. S&P 500 futures are climbing higher in early trading. Contracts are currently up 0.2%. #1 AI Stock in The World Wall Street first discovered artificial intelligence in a big way when ChatGPT burst onto the scene this year. Suddenly, Nvidia, the biggest AI chipmaker, surged 191%. But our Weiss stock ratings identified Nvidia as a "Buy" way back in 2011. Investors who bought it then could have seen gains of 9,624%. Now, we're among the first moving on to the next phase of the AI revolution, which could be even bigger. Get all the Deails on this Promising AI Stock Here ⚪ NoneNo major news to report. |
Dentsply Sirona [XRAY] - Last Close: $34.16 Dentsply Sirona is rebounding after a small pull back yesterday. The healthcare supplies company said Thursday morning that it's expanding its workflow integrations with 3Shape. The partnership will allow the companies to offer dentists a scan-to-lab workflow, so they can establish design & manufacturing protocols directly in their practice.
Dentists can easily transmit orders to their lab partners with DS Core, and the data can be processed in 3Shape Dental System. XRAY fell 2.9% yesterday following the announcement, but it's leading the S&P 500 with a 4.5% gain this morning. My Take: XRAY has struggled as of late, and I don't think this story provides enough of a catalyst for it to snap out of its funk. Nayax Ltd. [NYAX] - Last Close: $24.00 Nayax is up after a recent announcement. The stock has been running hot since signing a partnership with Koc Holdings subsidiary Duzey to enhance customers' payment experiences. Under the terms of the deal, Nayax will install its devices in public places and at Koc's factories across Turkey. The partnership will eventually expand to Europe, the companies said in a statement. NYAX is up 16.6% in early premarket trading. My Take: This NYAX move seems a little artificial. Not sure what's driving it, but I would be wary of a pullback. Atlantic Coastal Acquisition II [ACAB] - Last Close: $10.56 Atlantic Coastal SPAC is trending after landing a merger deal. Yesterday evening, the blank-check firm announced a term sheet to pursue a formal business merger with Abpro. The potential deal would assign Abpro an implied equity value of $725 million and help the biotech firm bring its drug pipeline to clinical trials. The deal is expected to close in the second quarter of 2024. ACAB is one of this morning's top movers with a 17.4% gain. My Take: It will be a while before this deal closes, and there could be some volatility in the meantime. However, it could be a good time to get in position in ACAB if you're bullish on Abpro. MicroAlgo [MLGO] - Last Close: $3.96 MicroAlgo just announced a new service feature. This morning, the Chinese company announced the development of a "knowledge-enhanced backtracking search algorithm." MicroAlgo says the technology will improve the efficiency, accuracy, and adaptability of problem-solving applications for enterprises and research firms. Shares of MLGO are up 25.7% in early trading. My Take: This stock has been skyrocketing lately despite no major news. It's 8.8% short ratio may be playing a hand, but this looks like classic China stock price manipulation here. Be very cautious with this one. GainersGSE Systems [GVP] >> +60.0%Avalo Therapeutics [AVTX] >> +33.4%FLJ Group [FLJ] >> +17.5%Taoping [TAOP] >> +17.0% DeclinersNeptune [NEPT] >> (45.5%) Pharming Group [PHAR] >> (19.0%)Scholastic [SCHL] >> (17.9%)Flux Power [FLUX] >> (16.3%) Netsol Technologies Inc. [NTWK] ... AM S&P Flash U.S. Services PMI [Sep] ... 9:45aS&P Flash U.S. Manufacturing PMI [Sep] ... 9:45a |
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