Why Rumble Shares Are Trading Higher By Around 43%; Here Are 20 Stocks Moving Premarket
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 23 2024
0mins
Source: Benzinga
Rumble Inc. Investment Announcement: Rumble Inc. shares surged 43.3% in pre-market trading after announcing a $775 million strategic investment from Tether, involving the purchase of 103.33 million shares at $7.50 each.
Pre-Market Stock Movements: Other notable stock movements included Reliance Global Group gaining 234%, Phio Pharmaceuticals rising 88.6%, and several companies experiencing significant declines, such as Conduit Pharmaceuticals falling 28.9%.
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Analyst Views on ABAT
Wall Street analysts forecast ABAT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ABAT is 7.00 USD with a low forecast of 7.00 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 4.320
Low
7.00
Averages
7.00
High
7.00
Current: 4.320
Low
7.00
Averages
7.00
High
7.00
About ABAT
American Battery Technology Company is an integrated battery materials company. The Company is engaged in the exploration of new primary resources of battery metals, the development and commercialization of new technologies for the extraction and refining of these battery metals from primary resources, and the commercialization of an internally developed integrated process for the recycling of lithium-ion batteries. The Company’s business includes lithium-ion battery recycling and Primary Resource Development & Refining. The Company’s recycling system is a two-phase process: an automated de-manufacturing process followed by a targeted chemical extraction train to separate the individual high-value metals. The Company has designed and optimizing internally developed sustainable lithium extraction process for the manufacturing of battery cathode grade lithium hydroxide from Nevada-based sedimentary claystone primary resources.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Multiple Material Stocks Receive 'F' EPS Revision Grades, Indicating Weak Earnings Momentum
- EPS Revision Grade Analysis: As the earnings season approaches, an analysis reveals that several mid to low cap material stocks have received an 'F' EPS revision grade, indicating significant downward pressure on future earnings expectations, which may lead to decreased investor confidence.
- List of Affected Companies: Companies such as American Battery Technology Company (ABAT), Algoma Steel Group Inc. (ASTL), and Eastman Chemical Company (EMN) have all received an 'F' grade, highlighting serious challenges in their earnings momentum.
- Market Impact Assessment: The poor EPS revision grades of these companies could adversely affect their stock performance, prompting investors to carefully assess associated risks, especially during the earnings season when market sensitivity to earnings is heightened.
- Industry Outlook: With the earnings season underway, the overall performance of the materials sector may be dragged down by these low-rated companies, leading investors to seek out better-performing firms within the industry for potential investment opportunities.
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American Battery Technology's Lithium Project Gains Priority Status, Stock Surges 180%
- Project Certification Boost: American Battery Technology's Tonopah Flats Lithium Project was selected as a Transparency Priority Project by the FAST-41 Permitting Council and the National Energy Dominance Council, driving a nearly 180% stock surge over the past year, highlighting the positive impact of policy support on company growth.
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- Sentiment Shift: According to Stocktwits data, retail sentiment on ABAT stock jumped from 'bullish' to 'extremely bullish', indicating optimistic investor expectations for the company's future, especially amid U.S. government efforts to ramp up mineral production.
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