Memes Are Back on The Menu
Good morning, Wake-up Watchlisters! While you sip that final cup of weekday joe, lets take a gander at the top movers and shakers in the premarket this morning!
It’s relatively quiet on Wall Street today, while the CPI numbers came in exactly at expectations many are still holding their breath on inflation. We’ve got an unlikely group of premarket movers with a couple names that I honestly did not think we would see again. Just goes to show, ya never know!
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Digital World Acquisition Group
Digital World Acquisition Group (DWACW) was up 14.25% in the premarket. The VC firm has been struggling to take former president Trump’s social media company, Truth Social, public. Yesterday both DWAC and Trump Media & Technology Group, agreed to extend the deadline from September 6th to December 31st. All is not said and done either, the companies still need shareholder approval to finalize the move with a vote coming up on August 17th.
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Tupperware Brands
Tupperware Brands (TUP) was down 8.51% in the premarket. The food container company has become a meme stock over the last few weeks. Despite cautioning investors in April that it could go bust, shares have blasted off 600% higher since the end of June. The historic brand did announce a debt restructuring agreement at the beginning of this week, but the company is not out of hot water yet and certainly not worth 5 times what it was a month ago.
WeWork
WeWork Inc. (WE) was up 26.61% in the premarket. Once valued at over $47 billion, shares of the workspace sharing company have been less than $0.50 cents apiece since May, and even dropped to 10 cents earlier this week. Despite an announcement from the company this Tuesday that there are doubts it can stay in business at all, it is popping off this morning. It begs the question, “Who is holding on to the idea that WeWork can still turn it around?”
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Those are the biggest stock movers in the premarket today.
Happy trading!
The Wake-Up Watchlist Research Team