Thursday, May 25, 2023

Chipmaker Drives $300 Billion Market Rally!

Trade of the Day Wake-Up Watchlist

Good morning, Wake-Up Watchlisters!

While it is national wine day, lets stick to coffee this morning as we dig into the premarket movement!

The markets are currently experiencing a $300 billion AI-led rally on the heels of Nvidia's blowout earnings report (more on that to come). This is some nice relief from the looming threat of the debt ceiling talks which continue to go nowhere. Let's hope the sentiment continues and we can rally into the end of the week.

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Now, let's take a look at the top-moving stocks this morning.

Nvidia Corp. (NASDAQ: NVDA)

Nvidia Corp. is up 27.54% premarket. Shares of the graphics card company have really taken off after a very strong earnings report earnings report came out last night. Revenue and adjusted EPS beat the markets expectations and the chip maker put out the strongest guidance numbers yet. The race for AI adoption has driven new demand for high powered computing and Nvidia is a leader in the space.

While this jump from Nvidia may come a surprise to many, it is not really new to Nate Bear. In his Daily Profits Live service Nate has locked in 9 winners on the stock so far this year with 3 over 100% and 1 for over 312%! Stay ahead of the curve and join him today!

 

Snowflake Inc (NYSE: SNOW)

Snowflake Inc. is down 14.4% premarket. Leadership for the cloud software company released a disappointing new sales outlook for the current quarter. Analysts have been suggesting that cloud computing is falling out of favor as new tech like AI takes center stage and this report seems to corroborate that theory. While Snowflake reported an estimated 34% increase in revenue by the end of the year, sales are predicted to fall short of the company's goal by a full $100 million.

 

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C3.ai Inc. (NYSE: AI)

C3.ai Inc. is up 12.92% premarket. The company with the symbol AI is certainly not going to miss any rally in the market around the tech. That seems to be the story this morning, while there is no news or big changes within the company specifically the market environment continues to heat up for any company involved with AI. Earnings are coming up May 31st for the new tech company if this momentum continues, we could easily see shares hit new highs for the year by June.

 

DISH Network Corporation (NASDAQ: DISH)

Dish Network Corporation is down 5.61% premarket. The satellite entertainment company announced recently that nearly 300,000 customers were affected by a data breach cyber attack earlier this month. The attack has cost the company about $30 million in expenses so far, which seems manageable, however the entertainment provider is losing its customers rapidly. Over 550,000 unsubscribed in the first three months of the year and the ransomware attack is not encouraging potential new members to sign up anytime soon!

 

Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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