Thursday, December 22, 2022

Car Company Falls...

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see US stock futures fell on Thursday. Investors are assessing whether the economy will hold up in all these worst-case recession scenarios. Chipmaker Micron also reported a gloomy outlook (more on that below).

If it's time for 'America's Reckoning' in 2023, it's crucial to know where to put your money. Right now our Head Fundamental Tactician Karim Rahemtulla is showing traders a $3 alternative asset that could be the play in a potentially rough 2023.

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

Mirati Therapeutics (Nasdaq: MRTX)

Mirati Therpeutics is up 10.68% premarket after receiving breakthrough therapy designation from the FDA for patients with advanced colorectal cancer. The designation is supported by results from a Phase 11b cohort of the KRYSTAL-1 trial. The FDA will now grant to expedite the development and regulatory review of the drug.

It's been a strong last couple of weeks for the medical sector. Our friend Alexander Green is also high on another medical stock. This company has the patent on a medical device that could be the biggest breakthrough in 37 years – and it's trading for under $3 right now.

Click here to unlock this stock.

 

CarMax (NYSE: KMX)

CarMax is down 14.13% premarket after a big earnings miss. The company cited 'vehicle affordability challenges' due to inflation and rising interest rates. Net income from the quarter to Nov. 30 fell to $37.6 million, or 24 cents a share, from $269.4 million, or $1.63 a share, in the year-ago period.

Earnings reports are often big catalysts in determining whether a stock will go up or down. Our Head Fundamental Tactician uses his Insider Matrix to track where the big guns are putting their money – and this strategy could lead to big moves on earnings day.

Click here to learn more about the Insider Matrix.

 

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IsoPlexis Corporation (Nasdaq: ISO)

IsoPlexis is up 60.85% premarket after agreeing to be acquired by Berkeley Lights to create a premier functional cell biology company. The combined company, which will be named PhenomeX, will provide live cell biology research tools which deliver deep insights into cellular function and new perspectives on phenomes.

 

Micron Technology (Nasdaq: MU)

Micron Technology is down 3.54% premarket. The chipmaker announced it will cut 10% of its workforce as demand for computer chips slumps. It expects sales could dive more than 50% and more belt-tightening is expected before outlook improves. The move caused other stocks like Nvidia and AMD to slip as well.

 

Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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