Premarket Stock Moves: Nvidia, Apple, Kellanova
- Nvidia, Apple, and Kellanova are among the stocks with the most significant movements in premarket trading.
- The premarket trading session often indicates market sentiment and influences the opening stock prices.
- Investors closely monitor these moves to gauge momentum and potential investment opportunities.
On August 5, 2024, major technology stocks experienced significant declines as a global market sell-off intensified on Wall Street. Broadcom fell approximately 9%, while Super Micro Computer and Arm Holdings each dropped over 12%. Other notable losses included Meta and Amazon, which slid more than 6%, and Tesla, which saw an 8.3% decrease. Microsoft also faced a decline of 4.3%, reflecting a broader trend affecting the tech sector. Electric vehicle manufacturer Lucid saw its stock retreat by about 8% ahead of its second-quarter earnings report, which analysts predict will show a loss of 27 cents per share on revenues of $190.3 million. The anticipation of these results contributed to the stock's volatility as investors braced for the company's performance metrics. In contrast, Kellanova, a snack food company, experienced a remarkable surge of 21% following reports that it is in talks with candy maker Mars for a potential acquisition. This news provided a bright spot amid the otherwise bleak market conditions affecting tech stocks. Additionally, cryptocurrency-related stocks faced severe pressure as Bitcoin's price fell below $50,000 for the first time this year. Marathon Digital's shares plummeted by 13%, with other cryptocurrency miners also reporting double-digit losses. Palantir's stock dropped nearly 12.2% ahead of its earnings announcement, with analysts expecting revenue to exceed the company's own forecasts.