Wednesday, August 24, 2022

The Bird is the Word Premarket

Trade of the Day Wake-Up Watchlist

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Good morning Wake-Up Watchlisters! While you're sipping black coffee you'll see stock futures are struggling for direction on Wednesday. The S&P 500 posted modest gains while the Nasdaq went for a slight loss. The central bankers' retreat in Jackson Hole should give investors a clearer picture later this week.

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

Bird Global (NYSE: BRDS)

Bird Global is up 25.85% premarket after the environmentally-friendly electric transportation company announced cities including San Diego, California, Memphis, Newark, New Jersey, Durham and Louisville will extend their shared e-mobility programs with Bird. The company also plans to be back in Minneapolis and Knoxville, Tennessee.

The electric vehicle sector is exploding. Ford recently announced it will layoff 3,000 workers as it switches to its electric business model. Hertz expects 1/5th of its entire rental car fleet to be electric by the end of 2022 – and right now there's a crucial company at the center of all this. Our friend Andy Snyder believes this startup could overtake Tesla and right now it's trading for around $25.

Click here to unlock this potential game-changing electric vehicle stock.

 

Petco (NYSE: WOOF)

Petco is up 6.80% premarket ahead of its latest earnings report on Wednesday morning. Petco shares have soared over the last month, tacking on nearly 10% in value and posting market-beating returns. Also, the company trades at solid valuation levels – the company's 19.4X forward earnings multiple is well beneath the its median of 26.1X and represents a 26% discount relative to the Zacks sector.

Inflation-proof stocks are something we focus on in Trade of the Day Plus. And we've been following stocks like Petco to help members understand how to thrive in bear markets.

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Starbox Holdings (Nasdaq: STBX)

Starbox Holdings is up 13.57% premarket after the digital cash rebate provider announced the pricing of its initial public offering. The price was 5,000,000 ordinary shares at a public offering price of $4.00 per ordinary share. The company expects to receive aggregate gross proceeds of $20 million from the Offering.

 

Nordstrom (NYSE: JWN)

Nordstrom is down 13.62% premarket after the clothing retailer trimmed its full-year outlook amid lower demand and inventory buildup. The department-store operator lowered its forecast for to a range of 5% to 7%. This comes after just three months ago when Nordstrom raised its outlook by a full percentage point.

 

Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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