Market Sentiment Turns South as Dada Nexus Falters with GDS Holdings Amid Pre-Market Slide

The Nasdaq futures show promise this morning, climbing approximately 70 points as investors gear up for the day.

Dada Nexus Limited (NASDAQ: DADA) shares stumble in early trading today after the announcement of lackluster fourth-quarter results.

Further exacerbating the situation, the company greenlights a share repurchase program valued at up to $40 million, spanning a two-year period until March 2026.

As the dust settles, Dada Nexus shares dip 9.1% to $2.30 in pre-market trading.

The market is rife with turbulence as GDS Holdings Limited (NASDAQ: GDS) also undergoes a 6.1% drop to $7.86 in pre-market trading, with financial results for the fourth quarter and full year of 2023 looming.

Other notable players witnessing a downturn include Star Bulk Carriers Corp. (NASDAQ: SBLK), FinVolution Group (NYSE: FINV), M&T Bank Corporation (NYSE: MTB), Tilray Brands, Inc. (NASDAQ: TLRY), and MINISO Group Holding Limited (NYSE: MNSO).

• Star Bulk Carriers Corp. (NASDAQ: SBLK) recorded a 4.4% decline to $23.30 in pre-market trading.
• FinVolution Group (NYSE: FINV) saw a 3.9% fall to $4.74 in pre-market trading following disappointing quarterly sales.
• M&T Bank Corporation (NYSE: MTB) slipped 3.7% to $137.00 in pre-market trading ahead of its first-quarter 2024 earnings report scheduled for April 15, 2024.
• Tilray Brands, Inc. (NASDAQ: TLRY) slid 3.3% to $2.08 after a 7% drop on Monday, attributed to Germany’s approval of cannabis legalization for adult use.
• MINISO Group Holding Limited (NYSE: MNSO) experienced a 2.6% decrease to $20.12 in pre-market trading despite surpassing second-quarter financial expectations.

 

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