Monday, June 3, 2024

Meme Stocks are at it Again...

Trade of the Day Wake-Up Watchlist

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Good Morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures were mixed on Monday as investors await new jobs data from May. The May jobs report is set to release on Friday morning, plus updates on private wage growth and job openings.

With multiple government reports coming out, you'll want to see how our tacticians Bryan and Karim are trading these reports in Catalyst Cash-Outs. For instance, another JOLTS report is coming out tomorrow, and it's been proven this report gives traders the potential to unlock overnight gains as high as 393%.

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

Gamestop (NYSE: GME)

Gamestop is up 82.37% in premarket trading after "Roaring Kitty" posted an account showing a $116 million position. American investor Keith Gill, the trader who inspired 2021's epic short squeeze, now holds 5 million shares of GameStop worth $115.7 million as of Friday's closing price. He also posted a cryptic picture of a reverse card in the game "Uno" on X. AMC Entertainment also rallied over 20% in premarket.

 

Stericycle, Inc. (Nasdaq: SRCL)

Stericycle is up 16.41% in premarket trading after reports Waste Management, a leader in medical waste services, agreed to buy the company for $7.2 billion. Stericycle has more than $1 billion in debt and Bloomberg reported last month that Stericycle was exploring a potential sale after receiving takeover interest.

 

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Autodesk Inc. (Nasdaq: ADSK)

Autodesk is up 7.47% in premarket trading. The company recently said that an internal investigation found no fault in recent accounting error accusations. It also reported first-quarter earnings that were above Wall Street expectations. Autodesk said it expects adjusted per-share earnings of about $1.87 on revenue of $1.42 billion, which was higher than expectations of $1.74 on revenue of $1.39 billion.

Paramount Global (Nasdaq: PARA)

Paramount Global is up 6.88% in premarket trading after film producer David Ellison's sweetened his offer for Paramount to include an option of nonvoting shareholders to cash out a portion of their stock for about $15 per share.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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