Thursday, June 9, 2022

Surge Continues For This Storage Company

Trade of the Day Wake-Up Watchlist

Stock Under $2: Last Value Play on Earth?

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Over the last week, Pure Storage is up 17.6%. Over the last year, the stock has gained 46.1%.

Good morning Wake-Up Watchlisters! While you're taking those invigorating ginger shots you'll see stock futures rose slightly as Wall Street tries to recover from Wednesday's losses. Reports that China is dialing back its tech crackdown likely contributed to the rise as well.

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

Pure Storage (NYSE: PSTG)

Pure Storage is up 5% premarket as the stock continues to show positive momentum. Over the last week, Pure Storage is up 17.6%. Over the last year, the stock has gained 46.1%. Analysts continue to adjust the company's earnings forecast for the past 60 days – and currently the Zacks Consensus Estimate has increased $0.09 to $0.95 per share. Pure Storage is looking strong.

 

Tesla (Nasdaq: TSLA)

Tesla is up 3.22% premarket after the electric vehicle maker reported a strong rebound in May sales. This resulted in a price target boost and an upgrade from UBS. Tesla sold 32,165 China-made cars last month, up from just 1,152 in April – the lowest in two years. With a potential record-breaking order book and new factories in Berlin and Austin, Tesla could be in for more high sales. Keep an eye on this stock going forward.

 

Mirati Therapeutics (Nasdaq: MRTX)

Mirati Therapeutics is up 4.78% premarket after the company announced positive results from an early stage KRYSTAL-1 study on adagrasib for lung cancer. In a study, 600 mg of adagrasib was found to have an 84% disease control rate in patients with active, untreated CNS metastases. Keep an eye on Mirati Therapeutics going forward.

 

Five Below (Nasdaq: FIVE)

Five Below is down 9.14% premarket after the retailer reduced its earnings guidance for the full year. The company expects full-year earnings of $4.85 to $5.24 a share, down from previous guidance of $5.19 to $5.70. Five Below is looking volatile.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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