The market opened its eyes to a mixed bag this morning, with Nasdaq futures showing a slight uptick of around 0.2% on Tuesday.
In a tough start, Maxeon Solar Technologies, Ltd. MAXN took a significant hit in pre-market trading today.
Maxeon Solar Technologies rattled investors with news of preliminary fourth-quarter revenue at $229 million, below the anticipated $235.959 million.
The fallout saw Maxeon Solar Technologies shares tumble 16.8% to $2.27 before the market even kicked off for the day.
Lurking in the shadows were other big names, feeling the sting of pre-market losses:
- Neogen Corporation NEOG witnessed a sharp 17% drop to $11.93 pre-market, reeling from disappointing third-quarter earnings projections and a lowered 2024 guidance.
- Tilray Brands, Inc. TLRY stumbled 12.7% to $2.26 in pre-market trading after missing its third-quarter estimates and rescinding hopes for a positive adjusted free cash flow for the fiscal year.
- DigiAsia Corp. FAAS saw a 9.9% dip to $7.00 pre-market after a whirlwind 20% surge the day before.
- InMode Ltd. INMD slumped by 9.5% to $17.91 pre-market ahead of its first-quarter financial results release scheduled on Thursday, May 2, 2024.
- GCT Semiconductor Holding, Inc. GCTS took a 4% hit, landing at $6.72 in pre-market trading following a 14% drop the day before. The company had inked an MOU with Aramco last week to bolster 4G and 5G development in Saudi Arabia.
- Rocket Companies, Inc. RKT went down 4% to $13.29 pre-market after a 7% uptick on the prior trading day.
- ChargePoint Holdings, Inc. CHPT faced a 3.3% decline to $1.79 pre-market as Goldman Sachs analyst Mark Delaney downgraded the stock from Neutral to Sell and set a new price target at $1.5.
Explore more: Investor optimism showing signs of life as the Fear & Greed Index maintains its ‘Greed’ state
Don’t overlook our pre-market insights here
