Toast is moving higher after its quarterly earnings report.
The cloud technology stock announced its Q2 earnings numbers after Thursday's closing bell, and investors are giving the report a warm reception in today's premarket.
Toast narrowed its operating loss to $0.11 per share from a $0.64 per-share loss a year earlier, beating the consensus EPS estimate of -($0.23).
Revenues came in at $675 million for Q2, which also beat the Street's $647.6 million target.
Toast's Q3 revenue guidance of $700 to $730 million also topped the Street's $663.2 million expectation.
TOST is up 12.9% following the upbeat earnings release.
My Take: Toast had a very solid quarter in Q3, and the company is showing signs of progress. However, it's still not profitable, and the cloud industry is extremely competitive.
WeTrade Group [WETG] - Last Close: $14.39
WeTrade Group is moving higher on news of a big sale.
The China-based eCommerce stock announced early this morning that it has entered into a sales agreement with Parkway Medical Limited to sell monkeypox virus test kits and antigen kits for US$50 million.
Under the terms of the deal, Pursuant to the Agreement, Parkway Medical agreed to purchase 5 million units of nucleic acid test and 6 million units of antigen tests for an aggregate amount of US$50 million, and Parkway Medical has paid US$1 million as deposit.
WeTrade Group CEO said the deal came as a result of its acquisition of the exclusive sales channel from Jiqing Biomedical Technology Co.
Shares of WETG are up 55.9% on active trading volume.
My Take: This move higher seems to be a bit overdone, so I'd watch for a pullback. There's also no short data available at the moment, so it's impossible to say if this rally is the result of a short squeeze.
