TSMC Soars on Strong Earnings
Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, saw its shares skyrocket in pre-market trading today after reporting impressive third-quarter results. The company’s consolidated revenue for the quarter reached NT$759.69 billion ($23.50 billion), marking a 39% year-over-year increase. This strong performance surpassed analysts’ expectations, with revenue exceeding the Bloomberg consensus of NT$748 billion. TSMC’s shares jumped an impressive 8.1% to $202.75 in the pre-market session.
Pre-Market Movers and Shakers
While TSMC dominated the headlines, several other stocks also experienced significant price swings in pre-market trading. Here’s a breakdown of some notable gainers and losers:
Gainers:
*
Staffing 360 Solutions, Inc. (STAF):
The staffing solutions provider saw a massive surge, gaining 354.4% to $6.27 in pre-market trading. This follows a strong performance on Wednesday, where the stock rose over 7%.*
VS MEDIA Holdings Limited (VSME):
The media and entertainment company continued its upward momentum, climbing 165.7% to $5.90. The stock had already jumped around 128% on Wednesday.*
Brera Holdings PLC (BREA):
The diversified investment company’s shares soared 144.1% to $1.70.*
Molecular Templates, Inc. (MTEM):
The biotechnology company saw a 105% gain to $0.6672. It’s worth noting that Molecular Templates recently announced plans to liquidate and wind up the company.*
1847 Holdings LLC (EFSH):
The financial services company’s shares rose 61.3% to $2.71. This follows a 24% jump on Wednesday.*
Gevo, Inc. (GEVO):
The renewable fuels company’s shares soared 36.9% to $3.08 after securing a conditional commitment loan of $1.46 billion from the Department of Energy (DOE) for its sustainable aviation fuel plant in South Dakota.*
Klotho Neurosciences, Inc. (KLTO):
The biopharmaceutical company climbed 29.9% to $0.7297 after announcing the appointment of Peter Moriarty of Shire Pharma as its new Chief Operating Officer (COO).*
Fresh Vine Wine, Inc. (VINE):
The wine company saw its shares rise 22.4% to $0.97 after announcing the acquisition of Adifex.*
Calumet, Inc. (CLMT):
The energy company’s shares gained 21.7% to $26.69. This follows its subsidiary, Montana Renewables, securing a $1.44 billion conditional commitment from the DOE for a renewable fuels and biomass energy facility.Losers:
*
Santech Holdings Limited (STEC):
The technology company saw its shares plunge 38.5% to $1.66 after a significant surge of around 647% on Wednesday.*
180 Life Sciences Corp. (ATNF):
The biotechnology company’s shares fell 29.1% to $4.59. This follows a 325% jump on Wednesday after the company announced plans to enter the online gaming industry.*
Versus Systems Inc. (VS):
The technology company’s shares dropped 29.1% to $2.79. The stock had surged 250% on Wednesday following a $2.5 million investment and licensing agreement with ASPIS.*
Carmell Corporation (CTCX):
The company’s shares fell 25.1% to $0.4710. This follows a 68% surge on Wednesday after the company decided not to pursue an offering due to business decisions.*
Fangdd Network Group Ltd. (DUO):
The Chinese real estate technology company’s shares declined 22.4% to $1.11. The stock had jumped 55% on Wednesday after regaining compliance status with the Nasdaq.*
Quoin Pharmaceuticals, Ltd. (QNRX):
The pharmaceutical company’s shares dropped 20.2% to $0.6291. This follows a 56% surge on Wednesday.*
SAIHEAT Limited (SAIH):
The company’s shares fell 19.8% to $0.7570. The stock had jumped 64% on Wednesday.*
Gritstone bio, Inc. (GRTS):
The biotechnology company’s shares declined 16.6% to $0.0500. This follows a decline of over 12% on Wednesday.*
ProQR Therapeutics N.V. (PRQR):
The pharmaceutical company’s shares fell 16.2% to $3.37. This follows a 122% surge on Wednesday.*
Lucid Group, Inc. (LCID):
The electric vehicle maker saw its shares fall 14.6% to $2.80. This follows the company’s announcement of a public offering of common stock and an investment from an affiliate of the Public Investment Fund.The pre-market action highlights the volatile nature of the stock market, with both positive and negative news driving significant price swings. Investors should be aware of the potential risks and rewards associated with investing in the stock market and consult with a financial advisor before making any investment decisions.