Bank drops 45% in historic collapse

Attention Traders: It’s Monday morning and our Lead Trading Tactician Nate Bear is giving you his weekly stocks to watch. This week he’s got his eyes on a semiconductor company.

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Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures were down on Monday after major bank news (more on that below) and a shift to the Federal Reserve’s latest policy decision this week. Recent economic data has reinforced bets of another 25-basis point interest hike on Wednesday, with investors pricing in 90% chances of such a move, according to CME Group’s Fedwatch tool.

Our Head Fundamental Tactician Karim Rahemtulla has been targeting banks for his Super Income Portfolio. Right now he believes his new “Super Income System” will make him $1 million within five years, and it’s all because of a specific phenomenon going on in the markets right now that we haven’t seen since 2007.

Click here to unlock Karim’s Super Income System.

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

First Republic Bank (NYSE: FRC)

First Republic Bank is down 45.87% premarket after US regulators seized the bank early Monday and sold the bank’s operations to JPMorgan Chase in the largest bank failure since the 2008 financial crisis. The fall of the $233 billion First Republic is larger than both Silicon Valley Bank and Signature Bank, where the second- and third-largest bank failures in US history at the time of their undoing seven weeks ago.

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SoFi Technologies, Inc. (SOFI)

SoFi Technologies is up 7.87% premarket after delivering record results for the quarter ending on March 31, 2023. First quarter net revenue increased 43% to $472.2 million from the prior-year period’s $330.3 million. First quarter adjusted net revenue of $460.2 million was up 43% from the same prior-year period’s $321.7 million.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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