S&P futures are down 1.1%, near their worst levels in Monday morning trading, indicating we can expect more of the same growth stock selloff. But some believe we are nearing a market bottom.
Global inflation worries continue to weigh on markets.
| NASDAQ | S&P 500 | BITCOIN |
|---|---|---|
| 13,768.92 (-2.72%) | 4,397.94 (-1.89%) | 3,470.56 (-5.90%) |
Here are some trending stocks:
Shroom stock Mind Medicine (MindMed) (NASDAQ: MNMD) dropped below a dollar last week and is down 38.5% year-to-date. It was up 10% in after-hours trading but has fallen 2.5% pre-market.
BT Brands, Inc. (NASDAQ: BTBD) is surging over 80% in pre-market trading. The company runs fast food restaurant chain Burger Time.
Digital World Acquisition Corp (NASDAQ: DWAC), the stock poised to take Donald Trump’s media group Truth Social public, is also trending. DWAC stock is up 41% year-to-date as speculative investors anticipate a target launch date on February 21.
Shareholders are closely watching Peloton (NASDAQ: PTON) and Netflix (NASDAQ: NFLX) for a share price bounce after crashing spectacularly last week.
Activist investor Blackwells Capital reportedly plans to push for Peloton (NASDAQ: PTON) to fire its CEO and consider a sale.
Activist hedge fund Trian Partners has built a stake in Unilever (NYSE: UL), which recently faced backlash over potential acquisition of GlaxoSmithKline’s (NYSE: GSK) consumer health business.
MicroStrategy (NASDAQ: MSTR) is under pressure after the SEC ruled it can't exclude big swings in Bitcoin from its unofficial accounting measures it highlights to investors. MSTR stock is down 32% year-to-date and another 12% in pre-market trading.
Halliburton (NYSE: HAL) stock slipped despite positive earnings beat and dividend increase.
Benefitfocus Inc (NASDAQ: BNFT) has been trending due to heightened sentiment on social media. But there could be confusion between the crypto ticker $BNFT which stands for Binance NFT, which is listing on PancakeSwap.
Kohl’s (NYSE: KSS) has reportedly received a $64 per share cash offer from group backed by activist hedge fund Starboard Value. This offer values the retailer at around $9bn. Sycamore Partners has also reportedly reached out to Kohl’s about a potential takeover. KSS stock is up over 31% in pre-market trading.
Natural Gas company Exterran Corp (NYSE: EXT) is up over 61% pre-market.
Tesla (NASDAQ: TSLA), Palantir (NYSE: PLTR) and Shopify (NYSE: SHOP) stock are all down over 5% in pre-market trading.
Coinbase (NASDAQ: COIN) stock is down 10% in pre-market trading.
Alibaba Group Holding Ltd (NYSE: BABA) is down nearly 4% pre-market.
VUG stock is trending. Vanguard Growth Index Fund (NYSEARCA: VUG) is down 13.4% year-to-date.