The stock market is buzzing this morning, with Nike leading the charge following the announcement of a CEO transition. Shares of NIKE, Inc. (NKE) jumped a remarkable 7% to $86.64 in pre-market trading after the company revealed that veteran Elliott Hill will take the helm as president and CEO, effective October 14th. Hill will also join the board of directors and the executive committee.
Beyond Nike, several other companies are making waves in the pre-market session. Here’s a closer look at some notable gainers and losers:
Gainers
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Banzai International, Inc. (BNZI):
Shares soared 148.1% to $7.12 after a 1-for-50 reverse stock split announced on Thursday. This move suggests a potential shift in the company’s strategy or a restructuring effort to improve its financial position.*
Battalion Oil Corporation (BATL):
The company’s stock surged 119.4% to $6.45 after announcing an amendment to its merger agreement with Fury Resources. The revised agreement includes the acquisition of all outstanding Battalion shares for $7.00 per share in cash. This deal signals a significant strategic shift and could lead to substantial growth for Battalion.*
Leafly Holdings, Inc. (LFLY):
Shares rallied 76.7% to $3.18, likely driven by positive market sentiment and a potential shift in investor focus towards the cannabis industry.*
SRIVARU Holding Limited (SVMH):
The stock gained 53.2% to $0.19, following a 11% increase on Thursday. This surge comes after SRIVARU Holding secured approval from the Nasdaq Panel for continued listing. This approval demonstrates the company’s commitment to meeting regulatory standards and maintaining its position on the Nasdaq exchange.*
Tenon Medical, Inc. (TNON):
The company’s stock climbed 41.2% to $7.10 after announcing the issuance of three notices of allowance for patent applications from the United States Patent and Trademark Office (USPTO). This news indicates potential for innovative product development and significant competitive advantage.*
Alliance Entertainment Holding Corporation (AENT):
Shares rose 25.5% to $2.56 following the release of better-than-expected full-year 2024 adjusted EPS results. This performance suggests strong financial health and positive market expectations for the company’s future.*
Genfit S.A. (GNFT):
The stock gained 13% to $4.88 after reporting its H1 results. Positive financial performance likely contributed to the upward trajectory of the stock.*
Kidpik Corp. (PIK):
Shares climbed 10.4% to $2.66, potentially driven by positive market sentiment and a potential increase in investor interest.*
Joint Stock Company Kaspi.kz (KSPI):
Shares gained 6.3% to $106.10 after experiencing a 16% drop on Thursday. The rebound suggests a potential recovery from a negative market reaction to the Culper Research report issued the previous day.Losers
*
Signing Day Sports, Inc. (SGN):
Shares plummeted 24.5% to $0.40, marking a significant reversal from the previous day’s surge. The company’s acquisition of sports gaming technology company Swifty Global, announced on Thursday, appears to have failed to maintain investor confidence.*
Society Pass Incorporated (SOPA):
The stock fell 17.4% to $0.85, retreating from a 22% gain on Thursday. The sharp decline highlights the volatility and unpredictability of the market and suggests potential concerns surrounding the company’s growth prospects.*
Neo-Concept International Group Holdings Limited (NCI):
Shares dipped 16.7% to $0.70, a reversal from the previous day’s surge of 72%. This significant downturn points to concerns regarding the sustainability of the company’s recent growth.*
TOMI Environmental Solutions, Inc. (TOMZ):
The stock fell 15.8% to $0.6398, reflecting potential negative market sentiment and a possible setback in investor confidence.*
E-Home Household Service Holdings Limited (EJH):
Shares declined 14.1% to $0.0839, continuing a downward trend from Thursday’s 8% drop. This indicates potential concerns surrounding the company’s growth trajectory and future prospects.*
Exicure, Inc. (XCUR):
The stock fell 13.2% to $3.41, reversing the previous day’s 72% jump. The decline could stem from a reassessment of the company’s recent announcement regarding an extension from the Nasdaq Hearings Panel.*
FedEx Corporation (FDX):
Shares declined 13.1% to $260.92 after the company reported weaker-than-expected results for the first quarter of fiscal 2025 and lowered its full-year guidance. This disappointing performance suggests potential challenges for the company and a possible shift in investor sentiment.*
Kopin Corporation (KOPN):
The stock declined 11.8% to $0.85 after announcing a public offering of common stock and pre-funded warrants. This move could signal a need for additional capital, raising concerns about the company’s financial health.*
Rezolve AI Limited (RZLV):
Shares fell 11.3% to $6.21, retracting from a 47% jump on Thursday. This drop likely reflects profit-taking and a reassessment of the company’s recent performance.*
Veea Inc. (VEEA):
The stock fell 7.6% to $10.22, continuing a downward trend from Thursday’s decline of around 10%. This suggests potential concerns about the company’s strategic partnership with Crowdkeep and its overall growth prospects.The pre-market movements highlight the dynamic and volatile nature of the stock market. Keep in mind that these are just snapshots of the market’s performance. As the trading day progresses, we can expect further fluctuations and shifts in sentiment.
