Strong Growth: NVIDIA Shares Rise By 14% Strong Growth: NVIDIA Shares Rise By 14%

Actionable Trade Ideas

always free

nvidia logo

Shares of NVIDIA Corporation NVDA shot up in pre-market trading today after the company exceeded fourth-quarter financial expectations and issued a robust revenue forecast for the upcoming quarter.

The company’s revenue stood at $22.10 billion, surpassing a Street estimate of $20.62 billion, marking a staggering 265% increase year-over-year. Furthermore, Nvidia reported fourth-quarter non-GAAP earnings per share of $5.16, outperforming a Street consensus estimate of $4.64 as reported by Benzinga Pro.

In pre-market trading, NVIDIA shares surged 14.3% to $771.50.

Here’s a look at some other stocks making moves in pre-market trading.

Notable Gainers

  • Agile Therapeutics, Inc. AGRX saw a gain of 140.4% to $2.38 in pre-market trading after being granted an extension by Nasdaq Hearings Panel to regain compliance until March 25, 2024, and forecasting FY23 revenue of $20 million to $21 million.
  • BuzzFeed, Inc. BZFD witnessed a surge of 89.6% to $0.4145 in pre-market trading following the announcement of the sale of Complex Networks to NTWRK for $108.6 million and an attendant 16% reduction in BuzzFeed’s workforce.
  • Elevai Labs, Inc. ELAB experienced a rise of 57.4% to $1.21 in pre-market trading after Braeden Lichti reported a 22.07% stake in the company.
  • GRI Bio, Inc. GRI jumped 55% to $1.50 in pre-market trading after recently announcing the pricing of a $5.5 million public offering.
  • Eastside Distilling, Inc. EAST rose 38% to $1.32 in pre-market trading.
  • Root, Inc. ROOT posted a gain of 24.4% to $10.78 in pre-market trading after delivering better-than-expected fourth-quarter results.
  • Beamr Imaging Ltd. BMR climbed 21.7% to $12.34 in pre-market trading after dipping 18% on Wednesday.
  • Remitly Global, Inc. RELY saw its shares rise 21% to $21.40 in pre-market trading after reporting better-than-expected fourth-quarter financial results.
  • Indivior PLC INDV gained 16.7% to $20.43 in pre-market trading following the release of fourth-quarter results.

Notable Losers

  • Draganfly Inc. DPRO plummeted 50.8% to $0.1770 in pre-market trading after announcing the pricing of a $3.6 million underwritten public offering.
  • Synaptogenix, Inc. SNPX witnessed a 21.2% decrease to $0.2093 in pre-market trading, following a 29% surge on Wednesday, after receiving a Notice of Allowance for its U.S. Patent application 17/665,033 titled β€œHalogenated Esters of Cyclopropanated Unsaturated Fatty Acids for Use in the Treatment of Neurodegenerative Diseases.”
  • Bel Fuse Inc. BELFB dropped 20.1% to $55.99 in pre-market trading after posting weaker-than-expected quarterly results.
  • Greenbrook TMS Inc. GBNH saw its shares fall 18.7% to $0.3110 following a 94% increase on Wednesday.
  • Momentus Inc. MNTS experienced an 18.3% dip to $0.5636 in pre-market trading after declining around 7% on Wednesday.
  • Visionary Holdings Inc. GV shares fell 15% to $0.17 in pre-market trading.
  • Rivian Automotive, Inc. RIVN fell 14.2% to $13.20 in pre-market trading after reporting a wider-than-expected loss for its fourth quarter and announcing plans to reduce its salaried workforce by around 10% to improve costs. The company said it sees production of 57,000 vehicles in 2024.
  • Energy Focus, Inc. EFOI declined 12.7% to $2.00 in pre-market trading after gaining around 66% on Wednesday.
  • Etsy, Inc. ETSY fell 11.3% to $68.44 in pre-market trading after the company reported mixed fourth-quarter financial results.
  • Lucid Group, Inc. LCID shares fell 8.2% to $3.40 in pre-market trading after the company reported mixed fourth-quarter financial results and issued guidance.

Β 

Now Read This: NVIDIA, Keurig Dr Pepper And 3 Stocks To Watch Heading Into Thursday

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.