| | | June 15, 2022 Hey traders! It's Michael here with the BRAND NEW Stock Dork Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks! Today is Wednesday, June 15th. Let's get ready to trade! |
| The Nasdaq managed a 0.2% gain on Tuesday, while other US indices struggled. The Dow fell 0.5%, and the S&P 500 posted a 0.4% loss. The small-cap Russell 2K index also lost 0.4%. Today, futures are in the green heading into the open. S&P 500 contracts are currently up 0.5%. Revlon Inc [REV] - Last Close: $1.87 Revlon is on a red-hot run following bankruptcy rumors. Yes, you heard it right. On Monday, media reports sparked rumors that the cosmetics company was poised to file for bankruptcy. The news prompted a 44.4% selloff in shares of REV in Monday's trading session. However, the stock's slump didn't last for long. Just the next day, REV rebounded with a 59.8% rally on Tuesday, and it carried its momentum into today's premarket. REV is one of today's most active premarket stocks, and it's currently showing a 26.7% gain. Our Take: Revlon could be an excellent value if the company can overcome its fiscal challenges. In February, this stock was trading for $10-plus per share. This stock could be a comeback story in the making. Algoma Steel Group [ASTL] - Last Close: $7.90 A strong earnings report is rallying Algoma Steel in today's premarket. The Canadian steel producer reported its Q4 numbers this morning, and the results were stronger than expected. Algoma Steel's Q4 diluted EPS came in at $1.45 and missed the Street's $1.65 per share target. However, the steelmaker's revenues grew 47.5% YoY to $941.8 million for the quarter, beating the consensus estimate of $902.0 million. Algoma's board of directors also announced the company's first regular dividend of $0.05 on each outstanding share of common stock, payable on July 15th to shareholders of record on June 27th. ASTL is up 14.7% on active premarket trading volume thanks to the new dividend and strong revenue growth. Our Take:Commodities stocks could perform well if the economy goes into recession. ASTL could be worth watching. Color Star Technology [CSCW] - Last Close: $0.1122 Color Star Technology is rebounding after falling in Tuesday's session. On Tuesday morning, the entertainment technology company made several announcements relating to its Color World metaverse app, including the addition of new flagship vendors and a new method of entertainment shopping. Despite the relatively upbeat nature of the announcement, CSCW fell 13.8% following the news. However, the stock is rebounding in today's premarket. CSCW is one of the morning's most active stocks, and it's up 24.8%. Our Take: This stock has seen massive declines over the past 12 months, and economic conditions are only worsening. CSCW's long-term prospects seem dicey at best, but it could have some potential as a speculation trade. Boxed Inc [BOXD] - Last Close: $1.41 Boxed is rallying on news of bullish insider buying. Recent SEC disclosures revealed one of the bulk-buy eCommerce firm's directors purchased 150K shares of the company at an average price of $1.82 per share. News of the significant insider buy is already driving share prices higher. BOXD is trading actively with a 20.6% gain on the news. Our Take: The insider buy reflected a 29% premium over Tuesday's closing price, and it signals that Boxed's management team believes the stock could be very undervalued. If they're right, there could be more gains ahead for this stock. |
| Gainers Akebia Therapeutics [AKBA] >> +27.3% Clovis [CLVS] >> +11.7% Inpixon [INPX] >> +11.1% Decliners 180 Life Sciences [ATNF] >> (38.8%) Corenergy Infrastructure [CORR] >> (25.1%) Jasper Therapeutics [JSPR] >> (24.7%) Waterdrop [WDH] ... AM John Wiley & Sons [WLY] ... AM |
| Retail Sales [May] ... 8:30a Import Price Index [May] ... 8:30a NAHB Homebuilders Index [Jun] ... 10a Business Inventories [Apr] ... 10a FOMC Statement ... 2p Fed Chair Jerome Powell news conference ... 2:30p |
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