Good morning Wake-Up Watchlisters! It’s Monday and you know what that means. Our Lead Technical Tactician Nate Bear is giving you his weekly stocks to watch. This week he’s got his eyes on three names. Click the image below to watch.

While you’re sipping coffee you’ll see stock futures were mixed on Monday. Wall Street is coming off its worst week of 2023 so far and investors are waiting on an upcoming inflation reading. Companies reporting earnings this week include Airbnb, Coca-Cola and DraftKings.

If you want to see how we’re playing earnings this week, we invite you to trade along with us in The War Room. We have an 82% win rate in 2023 and right now we’re guaranteeing members receive 252 winning trades in their first 12 months.

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

Sorrento Therapeutics (Nasdaq: SRNE)

Sorrento Therapeutics is down 24.36% premarket after the company filed for Chapter 11 bankruptcy protection. The company was working on a COVID-19 treatment, and one of its subsidiaries recently acquired the rights to the FDA-approved ELYXYB, a ready-to-use oral solution for the acute treatment of migraine.

Reports show insiders were net buyers of Sorrento Therapeutics stock during the past 12 months. While we don’t think shareholders should simply follow all insider transactions, we do think it can be an effective strategy when other factors are considered. Our Head Fundamental Tactician Karim Rahemtulla tracks insider buying as part of his Insider Matrix.

Click here to learn more about this strategy.

Novavax, Inc. (Nasdaq: NVAX)

Novavax is up 3.54% premarket has agreed to buy 1.5 million more doses of Novavax Covid-19 vaccine, the company said, as part of efforts preparing for the end of government purchases and the start of a commercial market for the shots. The new vaccine could be the first step in developing annual Covid shots, which could follow a similar process to the one used to update flu vaccines every year.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team