Good morning! And welcome to the pre-market newsletter, where we discuss the top 5 potential movers of the day. We’ve taken the liberty of providing you with the current price and institutional price target, as well as a short background on why the stock is moving. Watch out for ASO!
1. AAPL
Institutional Target Price from WSJ (Previous Close)
Avg: $151.09
Current: $121.39
Why it might be moving
Past week and past 24 hours
AAPL has been pretty stagnant over the past couple weeks. Yesterday, however, Apple’s supplier Foxconn, reported a slip in profits. Not to mention there is new information regarding the ongoing battle between Epic Games and Apple.
Reddit, twitter, or news reference
Reddit seems to be riddled with losses on Apple calls. The after hours dip last night seems to have been recognized along with confirmation of the issue regarding Apple’s supplies
2. VIAC
Institutional Target Price from WSJ (previous close)
Avg: $59.50
Current: $45.01
Why it might be moving
Institutional investor Goldman Sachs was reported to have sold over 30 million shares last Friday causing a huge drop in price. Archegos Capital Management has large holdings in VIAC, but was unable to meet margin calls from an investment bank leading to the block sale of the some holdings.
3. SPCE
Institutional Target Price from WSJ (Previous Close)
Avg: $38.33
Current: $29.21
Why it might be moving – search from reddit and news
The new ARK Space ETF have recently released their top ten holding and SPCE happens to be one of them. SPCE has also unveiled a new generation of spaceships.
Reddit is bullish on SPCE. Several posts have the stock priced much higher than it’s current price. Especially with the inclusion into the ARK Space ETF.
4. ASO
Avg: $27.78
Current: $24.27
Why it might be moving – search from reddit and news
Earning release, and it’s “$1.09 vs the expected $0.56” (by r/Lcarn2949).
And remember -- it is one of the most shorted stock, and we are going to see a very interesting move today probably.
5. DISCA
Institutional Target Price from WSJ (previous close)
Avg: $49.10
Current: $41.23
Why it might be moving
Institutional investor Morgan Stanley was reported to have sold over 15 million shares last Friday causing a huge drop in price. Archegos Capital Management has large holdings in DISCA, but was unable to meet margin calls from an investment bank leading to a block sale of some holdings.
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