Tuesday, October 4, 2022

Air Purifier Pops After Merge

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see the markets rallied on Tuesday. Investors are hoping the Federal Reserve pivots from its aggressive monetary tightening, a policy that could lead to stagnation and more economic instability.

While market rallies are exciting, this rally could be suspect. According to Nicholas Colas of DataTrek Research, the market rarely spikes by over 2% in non-stressed market conditions, suggesting that the latest bounce is a sign of fragility, not strength.

The stock market is in a rough place right now, which is why we're looking at alternative investments in Trade of the Day Plus. Our Head Fundamental Tactician Karim Rahemtulla is showing readers how a $3 investment could help investors protect themselves and thrive in bear markets.

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

AeroClean Technologies (Nasdaq: AERC)

AeroClean Technologies is up 34.89% premarket after its latest decision to merge with Molekule to combine in an all-stock merger. The merge will establish an industry-leading provider of premium, FDA-cleared air purification products and solutions. Aeroclean will change its name and ticker symbol to Molekule, Inc. (Nasdaq: MKUL).

 

Poshmark, Inc. (Nasdaq: POSH)

Poshmark is up 11.88% premarket after the online marketplace announced it will be sold to South Korea's largest internet company, Naver, for $1.2 billion in cash. Naver (ticker: KRX) is acquiring Poshmark shares for $17.90 in a cash, a 15% premium to Poshmark closing price.

 

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FingerMotion (Nasdaq: FNGR)

FingerMotion is up 33.85% premarket after no clear news. According to chatter on Twitter, it appears speculative investors are focusing on FingerMotion for a short squeeze. Shares are also seeing heavy trading as of today, with more than 41 million shares of the stock changing hands.

Considering a stake in a short squeeze? You have to be careful. While squeezes send stocks higher, they can be very volatile and fall back to earth once the squeeze is over. See how our Head Fundamental Tactician Karim Rahemtulla uses speculative trading to prepare for massive swings in the market while ALSO minimizing risk.

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Rivian Automative (Nasdaq: RIVN)

Rivian Automative is up 9.03% premarket after the electric vehicle maker ramped up production and reaffirmed its goal to build 25,000 electric vehicles this year. The Irvine California-based company also manufacturers electric vehicle vans for Amazon.com Inc. It has a contract to deliver 100,000 vehicles to the e-commerce giant by the end of the decade.

Our friend Andy Snyder has his eye on the upcoming $11 trillion electric vehicle market. See what he had to say about a company he feels could overtake Tesla.

Click here to unlock this company.

 

Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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