The Newest Meme Stock

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Good Morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures were mostly flat on Wednesday. Investors are waiting on the latest CPI data, which should clue them on whether the Fed will remain hawkish on rate hikes or not. Markets are looking to price U.S. data on what may show a third month of subdued inflation.

While down markets have been the story in September, we’ve been taking massive winners in The War Room. Over the past three weeks, our Head Trading Tactician Bryan Bottarelli has closed three triple-digit winners. Yesterday he closed an overnight trade on ORCL for a 133% gain. Last week he closed a 124.47% overnight gain on AMBA, and the week before that he closed a 166.25% return on ANF.

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

Moderna, Inc. (Nasdaq: MRNA)

Moderna is up 3.67% premarket after CDC endorsed Covid-19 boosters for everyone aged 6 months and older. The boosters against new variants could be available within days. Moderna also announced its expanding the field of mrna medicine, and expects to launch up to 15 new products addressing high unmet needs.

WeWork Inc. (NYSE: WE)

WeWork Inc. is down 7.67% premarket after rocketing over 86% yesterday. The major boost came despite lack of company-specific news. WeWork has become known as the newest “meme stock” due to its popularity among retail investors and it’s currently one of the top trading tickers on Yahoo! Finance and Stocktwits.

When stocks fall, dip buying has the potential to be an effective strategy for acquiring assets at discounted prices. Last year when markets were hitting the lowest point since the Housing Crisis, our Head Trading Fundamental Karim Rahemtulla went to work finding the best value stocks that actually had a chance of going back up. THIS COMPANY was his top pick. It’s already up 141% year-to-date, and Karim believes it still has more room to grow.

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BP p.l.c. (NYSE: BP)

BP is up 1.78% premarket after trading lower on Tuesday due to CEO Bernard Looney’s resignation. The CEO announced he was leaving the company after acknowledging he had not been “fully transparent” about personal relationships he had with colleagues. The statement says an investigation is ongoing and that relationships occurred before Looney became CEO. CFO Murray Auchincloss will act as interim CEO.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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