Prism Stocks making the biggest premarket moves: GameStop, AMC, Alibaba, Sony and more

Here’s a sneak peek at the biggest market movers in premarket trading:

The meme stocks stole the limelight once again with GameStop

skyrocketing 120%, extending from its previous 74.4% gain on Monday. This surge followed after “Roaring Kitty”, the one who ignited the 2021 GameStop saga, made his first online appearance in roughly three years. AMC shares

also surged by 106%, while Reddit

and Robinhood

stocks too, saw an uptick of around 4% and nearly 6% respectively.

Alibaba

suffered a loss of almost 5% in its U.S.-listed shares as the Chinese e-commerce titan reported a staggering 86% dip in profits for its fiscal fourth quarter. Despite this, Alibaba managed to exceed revenue expectations, delivering 221.9 billion Chinese yuan ($30.7 billion) against the LSEG consensus estimate of 219.66 billion yuan.

Home Depot

shares slightly faltered by less than 1% as the company posted mixed quarterly results. The home improvement retailer reported $3.63 earnings per share beating the analyst’s expectation of $3.60 by LSEG. However, the revenue of $36.42 billion missed the consensus estimate of $36.66 billion.

Sony’s

U.S.-listed shares achieved an increase of 3% after the PlayStation manufacturer announced a quarterly revenue of 3.5 trillion yen, surpassing the 2.89 trillion yen as estimated by LSEG. However, operating profits fell short of expectations.

Vodafone

, the telecom giant based in the U.K., saw its shares increase by 3% following its full-year adjusted free cash flow and operating profit exceeding expectations.

On Holding, the footwear manufacturer, made an impressive leap of 9% following its Q1 earnings which hugely surpassed analyst expectations. The company reported an adjusted profit of CHF0.33 per share, as opposed to the expected CHF0.14 by FactSet. Net sales also rocketed by almost 20%.

Walmart

shares received a slight bump after the Wall Street Journal disclosed the retail behemoth’s plans to slash hundreds of jobs and requesting most remote employees to transition to office work.

United Airlines

experienced a minor dip of less than 1% after unveiling its summer travel update. The airline anticipates the busiest Memorial Day on record, with travel figures expected to rise by 10% YoY.

Novo Nordisk

stock edged slightly higher following the Danish pharmaceutical’s new data revealing that patients using its Wegovy weight-loss treatment maintained an average 10% weight loss after 4 years.

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Prism Stocks making the biggest premarket moves: GameStop, AMC, Alibaba, Sony and more

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