Why Direct Digital Shares Are Trading Higher By Around 33%; Here Are 20 Stocks Moving Premarket

Shares of Direct Digital Holdings, Inc. DRCT rose sharply in pre-market trading after the company reported better-than-expected third-quarter financial results.

The company posted quarterly earnings of 23 cents per share, beating estimates of 5 cents per share. The company’s sales came in at $59.47 million versus expectations of $34.49 million.

Direct Digital said it sees 2023 revenue of $170 million to $190 million, versus estimates of $128.09 million.

Direct Digital shares jumped 32.6% to $3.46 in pre-market trading.

Here are some other stocks moving in pre-market trading.

Gainers

• TRACON Pharmaceuticals, Inc. TCON shares surged 116.9% to $0.3471 in pre-market trading after the company reported third-quarter financial results.
• Marpai, Inc. MRAI shares rose 88.6% to $0.7222 in pre-market trading. Marpai recently named Damien Lamendola as its new Chief Executive Officer, replacing Edmundo Gonzalez.
• INVO Bioscience, Inc. INVO shares rose 32.3% to $0.93 in pre-market trading. INVO Bioscience announced commencement of waiver solicitation from holders of the company's common stock purchase warrants.
• Intelligent Bio Solutions Inc. INBS shares climbed 25.7% to $0.5500 in pre-market trading after jumping over 92% on Thursday. The company reported first-quarter financial results on Wednesday.
• AVITA Medical, Inc. RCEL rose 24.7% to $12.32 in pre-market trading after the company reported better-than-expected third-quarter sales.
• Marin Software Incorporated MRIN shares rose 21.3% to $0.3350 in pre-market trading. Marin Software, last week, posted a narrower loss for the third quarter.
• Globavend Holdings Limited GVH rose 19% to $2.19 in pre-market trading after falling around 29% on Thursday. Globavend Holdings recently announced pricing of $6 million initial public offering of 1.5 million shares of common stock at a price of $4 per share.
• Aurora Cannabis Inc. ACB gained 18.6% to $0.5283 in pre-market trading after the company announced its financial and operational results for the second quarter of fiscal year 2024.
• Generation Bio Co. GBIO shares rose 15.4% to $1.20 in pre-market trading following strong quarterly results.

Losers

• Groupon, Inc. GRPN dipped 33.5% to $9.00 in pre-market trading after the company reported worse-than-expected third-quarter financial results.
• Plug Power Inc. PLUG shares fell 29.4% to $4.18 in pre-market trading after the company reported worse-than-expected third-quarter financial results.
• The Trade Desk, Inc. TTD shares fell 26.7% to $56.30 in pre-market trading after the company reported third-quarter earnings and issued fourth-quarter revenue guidance below estimates.
• 2U, Inc. TWOU shares fell 24% to $1.81 in pre-market trading after the company reported third-quarter earnings and lowered its 2023 revenue outlook.
• BIOLASE, Inc. BIOL shares fell 22.1% to $1.09 in pre-market trading after the company announced weak quarterly results.
• Aptevo Therapeutics Inc. APVO shares fell 21.3% to $0.1833 in pre-market trading.
• Fortress Biotech, Inc. FBIO fell 20.7% to $1.65 in pre-market trading after the company reported launch of a proposed public offering.
• Near Intelligence, Inc. NIR fell 20.6% to $0.22 in pre-market trading after surging around 62% on Thursday.
• Vuzix Corporation VUZI fell 16.3% to $2.61 in pre-market after the company third-quarter financial results.
• Diageo plc DEO shares fell 13.7% to $138.03 in pre-market trading. Diageo said it sees organic operating profit growth to slow during the first half of the year.

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