High Traffic Sends Content Service Soaring

Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures bumped up on Tuesday. Investors are waiting on (you guessed it), the Federal Reserve’s decision on rate hikes. The Fed is expected to increase rates by 75-basis-points for the third consecutive time.

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

Edgio (Nasdaq: EGIO)

Edgio is up 13.11% premarket after the content delivery service posted its best traffic day ever. The digital content provider supported a major sporting event last Thursday, and saw a 160% increase in traffic. Not only was the company’s product able to support the massive traffic peaks, but also maintained high quality throughout.

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Ra Medical Systems (NYSE: RMED)

Ra Medical Systems is up 18.18% premarket after announcing results of a 1-for-50 reverse stock split. The company’s common stock is expected to begin trading on a split-adjusted basis at commencement of trading on Monday, October 3, 2022. The reverse stock split will reduce the number of shares of Ra Medical’s commons tock outstanding from 54,514,828 shares to approximately 1,090,296 shares.

Stitch Fix (Nasdaq: SFIX)

Stitch Fix is down 9.96% premarket after the company missed fourth-quarter revenue expectations. It also issued weaker-than-expected sales guidance and posted a drop in active clients. Revenue totaled $481.9 million, short of the Street’s estimate of $489.4 million. First-quarter revenue guidance was lowered to $455 million to $465 million and full-year sales guidance was revised to $1.76 billion to $1.86 billion.

AMTD Digital (NYSE: HKD)

AMTD Digital is up 14.80% premarket. The meme stock has been making waves recently, shooting up 69% last week while also tumbling by as much as 23% last Friday. There was absolutely no reason why the stock is going up or down – and AMTD has been halted more than 11 times for volatility.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team