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Flying Lower: Alaska Air Acquisition Puts a Chill on Pre-Market Trading

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U.S. stock futures took a nosedive this morning, with the Dow Jones futures plunging over 50 points come Monday.

Shares of Alaska Air Group, Inc. ALK took a tumble in pre-market trading after the company revealed plans to scoop up Hawaiian Holdings in a $1.9 billion deal.

Both airlines intend to hold onto their distinct brands, emphasizing their deep-rooted history and value to the communities they serve, but this move has clearly ruffled some feathers.

Alaska Air Group shares plummeted 9.4% to $36.01 in pre-market tradingβ€”ouch!

Here are some big stocks taking a hit in today’s pre-market trading session.

  • Virgin Galactic Holdings, Inc. SPCE shares stumbled 10.3% to $2.10 in pre-market trading after a 5% upswing on Friday.
  • Trupanion, Inc. TRUP shares dropped 8% to $27.00 in pre-market trading. Trupanion filed a prospectus for a potential offering of up to 3.6 million shares of common stock.
  • SK Telecom Co., Ltd. SKM shares fell 6.4% to $20.62 in pre-market trading.
  • Avid Bioservices, Inc. CDMO shares slumped 5.9% to $4.70 in pre-market trading.
  • Orthofix Medical Inc. OFIX shares sagged 5.4% to $10.52 in pre-market trading. Sealed Air will take Orthofix Medical’s place in the S&P SmallCap 600, effective before trading opens on Dec. 18.
  • Genie Energy Ltd. GNE shares shrank 4.3% to $22.63 in pre-market trading.
  • Nokia Oyj NOK shares fell 3.7% to $3.36 in pre-market trading.


Now Read This: Investor Sentiment Increases As S&P 500 Reaches 2023 Record

Don’t forget to check out our premarket coverage here

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