Pre-market trading in US stocks | STSS, GME lead the way as Meme stocks soar again! Nvidia, Apple, Pinduoduo rise

LB Select
2024.05.28 10:28
portai
I'm PortAI, I can summarize articles.

STSS surged by 300% in pre-market trading, now up around 270%; GameStop (GME) surged by 25% at one point, now up 21%; AMC Theatres rose by over 7% at one point, now up 6%; CRKN surged by 54% at one point, now up 16%; Faraday Future (FFIE) surged by over 10% at one point, now up nearly 3%

U.S. Stock Market News

  1. On the first day of the new real estate policy in Shanghai, some banks have already implemented the latest interest rates. Earlier analysis predicts that Beijing, Shenzhen, and Guangzhou, especially in reducing down payments and mortgage rates.

    Before the market opened today, Guangzhou announced a policy stating that the minimum down payment for the first home is 15% and the lower limit of interest rates is canceled.

  2. According to Bloomberg, iPhone shipments in China increased by 52% in April.

  3. According to Bloomberg, Deutsche Bank is reportedly planning to issue Panda bonds for the second time this year.

  4. Zhiwen Group's net revenue in the first quarter was RMB 2.56 billion, estimated at RMB 2.47 billion. Adjusted earnings per ADS in the first quarter were RMB 0.31, estimated at RMB 2.09. Monthly active users in the first quarter were 13.7 million, estimated at 100 million.

    Zhiwen Group expects net revenue in the second quarter to be between RMB 2.65 billion and RMB 2.75 billion.

  5. UBS hinted that the Asia-Pacific job cuts have basically ended, and the merger with Credit Suisse will be officially completed this week.

  6. According to Jiemian News, on May 22nd, a study published in the sub-journal "International Journal of Impotence Research" of "Nature" showed that non-diabetic men taking Simegadole are more likely to have erectile dysfunction.

  7. Bloomberg reported that Xiangshuo Technology will issue 5.3 million American Depositary Shares (GDS) at a price of $60.96-63.14 per share. Each GDS is equivalent to one common share.

Pre-market Movers

In the pre-market of the U.S. stock market, the futures of the three major stock indexes are rising, while the fear index is falling.

Bitcoin is currently trading at $68,694, slightly up in the past 24 hours; Ethereum is currently trading at $3,917, slightly up in the past 24 hours.

Meme stocks surged again, cryptocurrency-related stocks generally fell, Chinese concept stocks rose, and tech stocks showed mixed movements.

STSS surged by 300% at one point, currently up around 270%; GameStop (GME) surged by 25% at one point, currently up 21%; AMC Theatres rose by over 7% at one point, currently up 6%; CRKN surged by 54% at one point, currently up 16%; Faraday Future (FFIE) surged by over 10% at one point, currently up nearly 3%.

Nio rose by nearly 4%, Pinduoduo rose by nearly 3%, Bilibili rose by over 2%, Li Auto rose by over 1%, while Alibaba, JD.com, XPeng, Baidu rose slightly, and NetEase fell slightly.

Nvidia and Apple rose by over 2%, AMD rose by over 1%, Amazon rose slightly, while Tesla, Meta, and Microsoft fell slightly.

MSTR, MARA, and COIN all declined.

In terms of individual stocks, Zhiwen Group fell by 6% at one point, currently down 4%, due to lower-than-expected Q1 adjusted earnings per ADS and a decrease in Momo's monthly active users.

NAAS surged by 17% at one point, currently up 12%, with first-quarter gross profit quadrupling year-on-year Kuke Music once surged over 28%, now up 17%, planning to acquire a subsidiary of NAXOS.

Tuya Smart once rose by 11%, now up over 7%, officially joining the United Nations Global Compact.

Strategy Review

1. Wall Street to launch Chinese concept version of "Mag 7" - "Lucky 8"

The trading code for the Lucky Eight ETF is "LCKY", with initial components including Tencent, Alibaba, Meituan, BYD, Xiaomi, Pinduoduo, JD.com, and Baidu. It will be equally weighted and is expected to be listed this summer.

2. NVIDIA's stock split is imminent, how will it affect the stock price?

Historically, stock splits, especially forward stock splits, are usually seen by the market as a bullish signal! More importantly, the market expects this to indicate a trend of high-priced tech stocks splitting, with several of the "Big Seven" likely to face stock splits soon.

3. US stocks enter the "T+1" era from today, accelerating settlement is the trend

US stocks enter the "T+1" era from today, accelerating settlement is the trend. This move will reduce market risks, improve efficiency, and make the US market more flexible, timely, and orderly. The new policy will make the market more efficient and attractive, while also enhancing financial stability

Source: LB Select The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.