Wednesday, July 17, 2024

Cloud Company Pops 15%

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 fell on Wednesday after worries over Donald Trump's export stance on Taiwan weighed on markets. The risks to tech names due to more restrictions could overshadow the hope of interest-rate cuts. Chipmaker Nvidia was down over 3% in pre-market trading.

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

GitLab Inc. (Nasdaq: GTLB)

GitLab is up 15.67% in premarket trading after the U.S. provider of cloud-based software development tools is exploring a sale after attracting acquisition interest, according to people familiar with the matter. GitLab has a market value of about $8 billion, and any deal is still weeks away and no agreement is certain.

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Five Below (Nasdaq: FIVE)

Five Below is down 16.72% in premarket trading after missing revenue guidance for the second quarter that fell short of estimates. Five Below now expects sales for the fiscal second quarter to be in the range of $820 million to $826 million and a 6% to 7% decrease in comparable sales. Its CEO Joel Anderson also stepped down.

 

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Ginkgo Bioworks Holdings (NYSE: DNA)

Ginkgo Bioworks is up 10.14% in premarket trading after announcing a new collaboration with Syngenta Crop Protection. Through this collaboration, Ginkgo plans to develop and optimize a microbial strain that can meet productivity targets of a secondary metabolite from the Syngenta Biologicals pipeline.

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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