U.S. stock futures painted a mixed picture this morning, with the Dow futures inching upward by around 100 points on Monday. However, a wave of pre-market losses swept across several prominent companies, leaving investors with a sense of uncertainty.
Leading the pack of decliners was iTeos Therapeutics, Inc. (ITOS). The company’s shares plunged 13.7% to $14.40 in pre-market trading after releasing follow-up interim data from its GALAXIES Lung-201 study.
Vizsla Silver Corp. (VZLA) shares tumbled 11.4% to $1.94, reacting negatively to the company’s announcement of a $65 million bought deal financing.
Murano Global Investments Plc (MRNO) shares experienced a sharp 11.1% drop to $8.89, following a 36% surge on Friday. The reason for this downturn remains unclear.
Upstart Holdings, Inc. (UPST) shares shed 8.5% to $34.79 in pre-market trading after the company revealed plans for a proposed private offering of $300,000,000 of convertible senior notes due 2029.
Guardant Health, Inc. (GH) shares dipped 8.2% to $24.60, reversing the 5% gain they experienced on Friday.
Hyliion Holdings Corp. (HYLN) shares fell 6.7% to $1.96, despite a strong 8% surge on Friday. The company’s recent announcement of a $15 million+ contract from the Office of Naval Research for its KARNO generator development likely failed to sustain the momentum.
Instil Bio, Inc. (TIL) shares declined 6.1% to $79.40. The company, along with ImmuneOnco, announced a global registrational strategy for their PD-l1xvegf bispecific antibody, SYN-2510/IMM2510, targeting non-small cell lung cancer and triple-negative breast cancer.
Canaan Inc. (CAN) shares fell 5.6% to $1.01 after a 15% jump on Friday.
Solid Biosciences Inc. (SLDB) shares slipped 3% to $7.70, retracting from a 3% gain seen on Friday.
Nova Ltd. (NVMI) shares dipped 3% to $200.64 in pre-market trading.
MicroStrategy Incorporated (MSTR) shares dropped 2.4% to $138.10, mirroring a decline in the price of Bitcoin. This follows a strong 8% gain on Friday after the company announced the purchase of 18,300 bitcoin.
This pre-market activity signals that the stock market may experience volatility throughout the trading day, as investors grapple with a mix of positive and negative news.
