Esports Stock Levels Up
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Good morning Wake-Up Watchlisters! While you’re blowing on your scalding hot gas station coffee you’ll see stock futures dipped on Monday, implying a lower start to August after all three major indexes posted their best month since 2020.
The move comes after stocks finished strong on Friday to end July. The S&P 500 index rallied 9.1%, fighting back from its worst start to a year since 1962. The Dow Jones rose 6.7% for the month, and the Nasdaq Composite soared 12.3% to log one of its best months on record.
Here’s a look at the top-moving stocks this morning.
Mobile Global Esports Inc. (Nasdaq: MGAM)
Mobile Global Esports Inc. is up 39.41% premarket after the company announced pricing of its $6 million IPO, which started trading on July 29th, 2022. The esports company has IP rights for collegiate esports tournaments and also owns proprietary compression technology. As esports become more popular, this is a stock worth watching.
The Boeing Company (NYSE: BA)
The Boeing Company is up 4.54% premarket after a strike set to begin today has been put off temporarily. The strike was canceled after a union representing nearly 2,500 employees said on Saturday they will vote on the company’s revised contract offer. The FAA also approved Boeing’s plan to correct production problems with the 787 dreamliner.
Inate Pharma (Nasdaq: IPHA)
Inate Pharma is down 19.58% premarket after it announced the INTERLINK-1 Phase 3 study did not meet the threshold for efficacy. Based on this result and the recommendation of an Independent Data Monitoring Committee, the study will be discontinued.
Nio (NYSE: NIO)
Nio is up 4.20% premarket after the electric vehicle maker reported deliveries rose in July from a year ago to mark a third-straight monthly increase. Nio said it sold 10,052 vehicles last month, which was a 26.7% boost. That comes after a 60.3% increase in June and a 4.7% rise in May.
Do you know how to follow the money?
Insider buying (the legal kind) is one of the most effective ways to get in on stocks before they go up. And cluster buying is an unmistakable profit signal. Our Head Fundamental Trading Tactician Karim Rahemtulla explains how to spot insider buying to prepare for massive swings in the market.
Those are the top market movers today.
The Wake-Up Watchlist Research Team