Wednesday, February 1, 2023

AI Company Jumps in Premarket

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures slipped on Wednesday. Traders are preparing for the Federal Reserve policy meeting. Despite the recent slip, it was a strong month. January closed with the best start for stocks in 20 years. Overall, the index in global stocks is making history with an 8.6% gain last month – the best start to a year on record.

With stocks off to a hot start, we're taking some winners in The War Room. Right now we have an 86% win rate in 2023 and we recently closed a strong trade on Monday.

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

Snap Inc. (NYSE: SNAP)

Snapchat is down 15.74% premarket after a rough quarter for the social media company. A soft ad market and persistent changes to how its ad platform works led to a revenue drop between 2% and 10%. Jeffries analyst James Heaney slashed his 2023 revenue estimates by 2%. He now sees fair value for Snap at $9 a share, down from $10 previously.

 

C3.ai, Inc. (NYSE: AI)

C3.ai is up 5.69% premarket as the company added artificial intelligence tools that include ChatGPT. The open AI tool might be the hottest trend on the technology market right now. There's also OpenAI's DALL-E2 application, which creates images in response to text-based requests.

Artificial intelligence companies like C3.ai are part of a predicted $13 trillion tech revolution, but its not the only one. Our friend Andy Snyder is excited about another tech company he believes could hand you life-changing profits.

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Electronic Arts (Nasdaq: EA)

Electronic Arts is down 10.77% premarket after the video game maker gave a disappointing outlook for the current quarter due to a six-week delay in the release of its next Star Wars game. The company expected net bookings to be between $1.68 billion to $1.78 billion. Analysts had projected $2.22 billion, according to data compiled by Bloomberg. Overall spending on video game content declined 4.3% in 2022 to $184.4 billion, according to estimates from gaming analytics firm NewZoo.

 

Match Group (NYSE: MTCH)

Match Group is down 9.68% premarket. The dating app company came out with quarterly earnings of $0.30 per share, missing the Zacks Estimate of $0.47 per share. This compares to a loss of $0.48 per share a year ago. This represents an earnings surprise of -36.17%.

 

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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