Thursday, April 6, 2023

Costco samples premarket loss

Trade of the Day Wake-Up Watchlist

Good morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures were flat on Thursday as investors awaited jobs data to gauge the impact of the Federal Reserve's latest tightening moves. The much-awaited non-farm payrolls report for March will be released on Friday.

With investors betting on the economy slowing down over the next few months, it's crucial to consider alternative investments. Right now our friend Marc Lichtenfeld is showing readers his No. 1 pick for 2023 – and it's NOT a stock. It's also not a bond or private company. It's an investment that could hand you a big monthly income from the recent oil and gas surge.

Click here to discover this rare opportunity in the energy sector.

 

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

Costco Wholesale Corporation (Nasdaq: COST)

Costco Wholesale Corporation is down 2.40% premarket after the bulk discount retailer posted softer-than-expected March sales amid a spending pullback from cautious customers. Last month, CFO Richard Galanti told investors that the group had seen "weakness in what I'll call big ticket discretionary items" heading into the start of the spring.

We were ahead of the game on Costco in The War Room, and got positioned on a trade that led to a 20.5% overnight gain.

Click here to learn how this overnight trading strategy could help double your money while you sleep.

 

Bed, Bath & Beyond (Nasdaq: BBBY)

Bed, Bath & Beyond is up 4.60% premarket after company executives urged investors to approve a reverse split proposal that could save the group from bankruptcy. The struggling home retailer will hold a special shareholders meeting on May 9 to approve plans for a reverse split, expected to be in the region of either 1-for-10 or 1-for-20.

 

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AMC Entertainment Holdings (NYSE: AMC)

AMC Entertainment is up 11.35% premarket after the Delaware's Court of Chancery ruled against fast tracking a proposed settlement with shareholders that would allow a capital raise for the meme stock. Late Monday, AMC Entertainment, in its SEC filing, disclosed a binding statement with plantiffs in the shareholder lawsuit regarding the movie theater chain's stock conversion plan.

Meme stocks like AMC and BBBY can be risky, which is why we focus on only the most battle tested strategies for winning trades. Our Head Fundamental Tactician Karim Rahemtulla loves to track insider buying (the legal kind) as part of his Insider Matrix. In his 35 years of trading experience, insiders are right 80% of the time. Right now the win rate on Karim's insider trades is 71%.

If you want to follow every insider buy he tracks, click here to join the Insider Matrix.

 

Lumentum Holdings Inc. (Nasdaq: LITE)

Lumentum Holdings is down 11.62% premarket after recent business conditions led their shareholders to expect a greater chance of rough waters ahead. The maker of optical and phototonic technology reported preliminary fiscal third-quarter financial results for the period that ended April 1, and cut its guidance for the period dramatically. The company cited a network equipment manufacturing customer that represented more than 10% of its sales for the previous quarter, telling Lumentum that it wouldn't accept shipments during the period. Moreover, Lumentum doesn't expect this merely to be a timing issue, as it sees continued weakness in sales to this particular customer in the current fiscal fourth quarter.

 

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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After all, these insiders know far more about the company than we ever will.

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