Biotech Company Up Nearly 20%

Good morning Wake-Up Watchlisters! While you’re trying to guess how many scoops of sugar are in your Dunkin Donuts coffee you’ll see stocks are struggling for direction this Friday. Investors are bracing for a monthly US jobs report that’s likely to spur more recession debate. Even though the market rallied recently, its durability remains in doubt as central banks continue to speed up rate hikes.

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Here’s a look at the top-moving stocks this morning.

Evofem Biosciences (Nasdaq: EVFM)

Evofem Biosciences is up 16.93% premarket after the contraceptive company reported a 42% growth in net product sales. The company also reduced operating expenses by 8% and improved loss from operations by 16%. Right now it expects net product sales in the range of $30 to $35 million, representing 264% to 325% growth year-over-year.

There’s a lot of innovation going on in the health sector. And Oxford Club Chief Investment Strategist Alexander Green wants you to know about ‘The biggest healthcare innovation in half a century.’ Right now its trading for under $3.

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Cloudfare, Inc. (NYSE: NET)

Cloudfare is up 18.14% premarket after raising its full-year revenue forecast. The cybersecurity company said it expects full-year revenue of $968 million to $972 million, above its previous projections of $955 million to $959 million. Its second-quarter revenue totaled $234.5 million, representing an increase of 54% year-over-year.

DoorDash Inc. (NYSE: DASH)

DoorDash is up 11.48% premarket after beating revenue expectations, showing people are still buying takeout despite inflation. Revenue rose 30% in the second quarter to $1.6 billion. Customers placed 426 million orders in the three months ending June 30, jumping 23% from a year earlier.

Carvana Co. (NYSE: CVNA)

Carvana is up 7.07% premarket despite the car company missing revenue expectations in its second quarter. Carvana posted a net loss of $238 million, or $2.35 a share. Its second-quarter sales volume of 117,564 was up from 105,185 during the prior quarter and up from 107,815 a year earlier.

We recently closed a position on Carvana for a double-digit gain as part of our Insider Matrix.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team