A Big Short Squeeze…
Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures were down on Wednesday as investors take in new data. Tech giant Nvidia Corp fell as much as 2.1% in premarket, which led to the tech-heavy Nasdaq falling by almost .4%. Attention is on US GDP and inflation numbers and a strong line-up of bank speakers that could offer more clues into potential rate cuts.
It’s Wednesday and our Head Trading Tactician Bryan Bottarelli is making a weekly trade he’s guaranteeing an 80% win rate on.
Click here to unlock the next pick before it’s too late.
Here’s a look at the top-moving stocks this morning.
Beyond Meat (Nasdaq: BYND)
Beyond Meat is up 53.46% in premarket due to the company’s strategy of raising prices and implementing significant cost reductions, aimed at improving its financial margins. This move has led to a short squeeze, impacting the 37.6% of the company’s free float that was shorted, equivalent to shares worth $172.6 million. Despite a 60% market value drop over the past year and a 7.8% decline in Q4 net revenue.
Earnings reports have the potential to serve as major catalysts for a stock’s movement. But the truth is… there’s more potential gains to be had AFTER earnings. Our Lead Technical Tactician Nate Bear is currently playing what he calls the “post-earnings surge” in his latest service, Profit Surge Trader.
Click here to see how Nate trades just ONE TICKER over and over again for maximum potential gains.
eBay Inc. (Nasdaq: EBAY)
eBay is up 4.51% in premarket due to its Q4 earnings surpassing Wall Street estimates. The company reported adjusted earnings of $1.07 per share, outdoing the forecasted $1.03, on revenues of $2.56 billion, which aligned closely with the anticipated $2.51 billion. Additionally, eBay announced an 8% increase in its dividend and authorized an additional $2 billion for stock repurchases.