Highlights from Premarket Trading

As the markets gear up for another trading day, several companies are making waves in premarket trading. Here’s a closer look at some of the key movers:

GameStop

GameStop’s stock surged by 16% following the company’s recent announcement regarding a plan to utilize part of its corporate cash for purchasing bitcoin and stablecoins. This strategic move aligns with trends set by other companies, notably MicroStrategy.

Dollar Tree

The retail giant, Dollar Tree, saw a rise of 5% after unveiling its decision to sell its Family Dollar business for $1 billion. The company also released its fourth-quarter earnings, surpassing analysts’ expectations on both revenue and profit margins.

Playtika

Shares of Playtika, the mobile gaming firm, increased by 13.9% following a double upgrade from Bank of America, which raised its rating from ‘underperform’ to ‘buy’. The bank cited Playtika’s attractive business features within a mature yet growing industry.

Chewy

Chewy, the online retailer of pet products, experienced a price boost of over 5% after outperforming sales expectations for the fourth-quarter, reporting revenues of $3.25 billion compared to the anticipated $3.20 billion.

Wingstop

Wingstop’s stock appreciated by 1% after Wells Fargo initiated coverage with an ‘overweight’ rating, highlighting the company’s status as a “best-in-class consumer growth story.”

Tenet Healthcare

Tenet Healthcare shares saw a 2.5% increase as Morgan Stanley began coverage with an ‘overweight’ rating. Analyst Craig Hettenbach emphasized the market’s undervaluation of the company’s potential transformations in business and finances.

TotalEnergies SE

The French energy conglomerate, TotalEnergies SE, climbed more than 2% following a ‘buy’ upgrade from Citi. Analyst Alastair Syme suggested that there may be overlooked opportunities for margin and volume growth amid current market conditions.

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