Vehicle Company Skyrockets
Good morning Wake-Up Watchlisters! While you’re warming up your Chevy Silverado you’ll see stock futures ticked upward after a major sell-off saw indexes fall to their lowest level year-to-date in the previous session.
Despite the anxiety and fear in the markets, our War Room members are still making winning trades. Yesterday we closed multiple double-digit gains on several recession-proof stocks. Click here to unlock those trades.
Here’s a look at the top-moving stocks this morning.
Vroom, Inc. (Nasdaq: VRM)
Vroom is up 29.63% premarket after the used vehicle online platform exceeded guidance on all key financial metrics. They reported revenue of $675.4 million, up 60% versus the prior year. They also solid 19,473 ecommerce units, up 26% from the previous year. Lastly, the company recently appointed Tom Shortt as CEO. Shortt is expected to increase operating efficiencies through increased automation. Vroom is looking strong.
World Wrestling Entertainment (NYSE: WWE)
World Wrestling Entertainment is up 5.06% premarket after the company saw sharp growth in both revenues and earnings. The company benefited from the return of live events, expanded brand reach and enhanced content value plus the monetization of a new original series. Management reiterated it expects record revenue in 2022. WWE is a stock to keep an eye on.
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Upstart Holdings (Nasdaq: UPST)
Upstart Holdings is down 47.87% premarket after the company slashed its full-year revenue outlook, citing concerns of a recession. The company expects 2022 revenue of about $1.25 billion, down from its previous forecast of $1.4 billion. The company also said its second quarter revenue will be about $295 million to $305 million vs. Wall Street forecasts of $335 million. Upstart is looking uncertain right now.
Novavax (Nasdaq: NVAX)
Novavax is down 20.20% premarket after the company’s first quarter earnings share badly missed Wall Street forecasts. The company also posted earnings of $203 million, or $2.56 per diluted share, which was lower than Wall Street’s estimate of $2.69 per share. Wall Street expected $845 million in revenue, but the company only reported $704 million. Overall, Novavax is looking volatile.
Those are the top market movers today.
The Wake-Up Watchlist Research Team