Meme Stock Pops in Premarket
Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll stock stocks were lower once again on Thursday. Signs are pointing to an economy that’s running hot, with data unexpectedly showed US services activity was at a six-month high in August. The resilience among consumers shows the Federal Reserve could keep interest rates higher for longer.
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Here’s a look at the top-moving stocks this morning.
GameStop Corp. (NYSE: GME)
Gamestop is up 5.76% premarket after posting solid Q2 revenues. The video game retailer said group revenues rose 2.5% from last year to $1.164 billion, topping Wall Street forecasts as its shift to online sales from a reliance on brick-and-mortar traffic continues to support its top line.
Apple (NYSE: APPL)
Apple is down 2.99% premarket after reports that Beijing is cracking down on iPhone usage by government employees. The news follows a similar update from yesterday, which indicated that China’s senior officials have banned government employees from using iPhones when they’re doing business.
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Chargepoint (NYSE: CHPT)
Chargepoint is down 10.76% premarket after missing earnings estimates. It came out with a quarterly loss of $0.24 versus the Zacks Consensus Estimate of a loss of $.014. This compares to a loss of $0.19 per share a year ago.
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Westrock Company (NYSE: WRK)
Westrock is up 11.57% premarket after reports the packaging company is exploring a merger with Smurfit Kappa Group. The potential partnership would create an industry giant with a market value of about $20 billion and provide customers with everything from storage boxes to beer carriers to e-commerce shipping materials.
Those are the biggest stock movers for today.
Happy trading!
The Wake-Up Watchlist Research Team
