Why NVIDIA Shares Are Trading Higher By Around 14%; Here Are 20 Stocks Moving Premarket

Author: Avi Kapoor | February 22, 2024 08:55am

Shares of NVIDIA Corporation (NASDAQ:NVDA) rose sharply in today’s pre-market trading after the company reported better-than-expected fourth-quarter financial results and issued strong revenue guidance for the first quarter.

The company reported revenue of $22.10 billion, beating a Street estimate of $20.62 billion. Revenue in the fourth quarter was up 265% year-over-year. Nvidia reported fourth-quarter non-GAAP earnings per share of $5.16, which came in ahead of a Street consensus estimate of $4.64 according to data from Benzinga Pro.

NVIDIA shares surged 14.3% to $771.50 in pre-market trading

Here are some other stocks moving in pre-market trading.

Gainers

• Agile Therapeutics, Inc. (NASDAQ:AGRX) gained 140.4% to $2.38 in pre-market trading. Agile Therapeutics was granted extension by Nasdaq Hearings Panel to regain compliance until March 25, 2024. The company sees FY23 revenue of $20 million to $21 million.
• BuzzFeed, Inc. (NASDAQ:BZFD) shares surged 89.6% to $0.4145 in pre-market trading after the company revealed the sale of Complex Networks to NTWRK, a live-streaming video commerce platform. The deal, valued at $108.6 million, will also result in a 16% reduction in BuzzFeed’s workforce.
• Elevai Labs, Inc. (NASDAQ:ELAB) shares rose 57.4% to $1.21 in pre-market trading. Braeden Lichti reported a 22.07% stake in Elevai Labs.
• GRI Bio, Inc. (NASDAQ:GRI) shares jumped 55% to $1.50 in pre-market trading. GRI Bio recently announced pricing of a $5.5 million public offering.
• Eastside Distilling, Inc. (NASDAQ:EAST) shares rose 38% to $1.32 in pre-market trading.
• Root, Inc. (NASDAQ:ROOT) shares gained 24.4% to $10.78 in pre-market trading after posting better-than-expected fourth-quarter results.
• Beamr Imaging Ltd. (NASDAQ:BMR) gained 21.7% to $12.34 in pre-market trading after dipping 18% on Wednesday.
• Remitly Global, Inc. (NASDAQ:RELY) shares rose 21% to $21.40 in pre-market trading after the company reported better-than-expected fourth-quarter financial results.
• Indivior PLC (NASDAQ:INDV) gained 16.7% to $20.43 in pre-market trading following fourth-quarter results.

Losers

• Draganfly Inc. (NASDAQ:DPRO) fell 50.8% to $0.1770 in pre-market trading after the company announced pricing of $3.6 million underwritten public offering.
• Synaptogenix, Inc. (NASDAQ:SNPX) shares fell 21.2% to $0.2093 in pre-market trading after surging 29% on Wednesday. Synaptogenix received a Notice of Allowance for its U.S. Patent application 17/665,033 titled "Halogenated Esters of Cyclopropanated Unsaturated Fatty Acids for Use in the Treatment of Neurodegenerative Diseases."
• Bel Fuse Inc. (NASDAQ:BELFB) dipped 20.1% to $55.99 in pre-market trading after posting weaker-than-expected quarterly results.
• Greenbrook TMS Inc. (NASDAQ:GBNH) shares fell 18.7% to $0.3110 after jumping 94% on Wednesday.
• Momentus Inc. (NASDAQ:MNTS) shares dipped 18.3% to $0.5636 in pre-market trading after declining around 7% on Wednesday.
• Visionary Holdings Inc. (NASDAQ:GV) shares fell 15% to $0.17 in pre-market trading.
• Rivian Automotive, Inc. (NASDAQ:RIVN) fell 14.2% to $13.20 in pre-market trading after the company reported a wider-than-expected loss for its fourth quarter and announced plans to reduce its salaried workforce by around 10% to help further improve costs. The company said it sees production of 57,000 vehicles in 2024.
• Energy Focus, Inc. (NASDAQ:EFOI) fell 12.7% to $2.00 in pre-market trading after gaining around 66% on Wednesday.
• Etsy, Inc. (NASDAQ:ETSY) fell 11.3% to $68.44 in pre-market trading after the company reported mixed fourth-quarter financial results.
• Lucid Group, Inc. (NASDAQ:LCID) shares fell 8.2% to $3.40 in pre-market trading after the company reported mixed fourth-quarter financial results and issued guidance.

 

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