U.S. stock futures took a dip this morning, with the Dow futures falling around 150 points on Wednesday. The downward trend was particularly evident in the pre-market trading session, where several stocks experienced notable losses.
Leading the decline was GameStop Corp. (GME), whose shares tumbled after the company released its second-quarter earnings report. While GameStop managed to beat profit estimates, its net sales of $798.0 million fell short of the Street consensus of $895.7 million, according to data from Benzinga Pro. This disappointment led to a 10.5% drop in GameStop shares, settling at $20.98 in pre-market trading.
Beyond GameStop, other notable pre-market losers included:
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Rentokil Initial plc (RTO):
Shares plummeted by 17.6% to $26.02.*
Trump Media & Technology Group Corp. (DJT):
The company’s stock declined by 16% to $15.65 after a 3% gain on Tuesday.*
Relay Therapeutics, Inc. (RLAY):
Shares dipped by 11.9% to $7.93, following the company’s announcement of a $200 million public offering of common shares priced at $7/share.*
CTO Realty Growth, Inc. (CTO):
After experiencing an over 8% rise on Tuesday, the stock fell by 7.6% to $19.54.*
The GEO Group, Inc. (GEO):
Shares declined by 7.2% to $12.50.*
EVgo, Inc. (EVGO):
Following a 5% gain on Tuesday, the stock fell by 6.1% to $3.82.*
Rollins, Inc. (ROL):
Shares dipped by 6.1% to $48.00.*
Petco Health and Wellness Company, Inc. (WOOF):
The company’s stock fell by 5.5% to $2.90 after releasing its second-quarter earnings report.While the market grapples with these pre-market developments, investors will be closely watching to see how these trends translate into the regular trading session.
