?? CrowdStrike Surpasses Q3 Estimates Despite Global Outage Challenges

The articles and information in this newsletter are a summary of yesterday’s trading and related news. They are presented for informational purposes only. Nothing in the newsletter should be taken as investment or trading advice.

S&P 5006, 021.63+34.26 (+0.57%)

Dow Jones 44,860.31+123.74 (+0.28%)

NASDAQ 19,175.58+120.74 (+0.63%)

Market close: November 26, 2024

Breaking News

CrowdStrike Surpasses Q3 Estimates Despite Global Outage Challenges.

?? CrowdStrike Holdings delivered stronger-than-expected Q3 results, posting adjusted earnings of $0.93 per share on $1.01 billion in revenue, surpassing analysts’ estimates of $0.81 per share and $983 million in revenue. The cybersecurity firm overcame anticipated headwinds from a global tech outage linked to its software earlier this year, reaffirming its resilience and market leadership in cybersecurity solutions. MarketWatch reports.

Image source: Photo by Wikimedia Commons and Adobe Stock

EdgeUp

?? DiversityPolicies: DEI rollback reaches Walmart as backlash mounts. Yahoo Finance reports.

?? TariffTumble: Constellation Brands’ stock falls as Trump tariff plan threatens to make Modelo and Corona more expensive. CNBC reports.

?? BestBuyDown: Best Buy annual forecasts take a knock from weak electronics demand. Reuters reports.

?? AdaniRisk: Adani hit by downgrades as projects under review in India, Sri Lanka. Reuters reports.

?? ZoomDrop: Zoom stock falls after earnings. MarketWatch reports.

?? AdLaws: US judge will not delay Google search trial for DOJ switch to Trump administration. Yahoo Finance reports.

Top 5 Movers in Early Pre-Market

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time) Benzinga reports.

1. $HWH: HWH International

Total gain: 96.46%

2. $CYCN: Cyclerion Therapeutics

Total gain: 77.2%

3. $IFBD: Infobird Co

Total gain: 53.84%

4. $IDAI: T Stamp

Total gain: 37.83%

5. $KXIN: Kaixin Hldgs

Total gain: 33.67%

Trading Strategies

Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 9 AM ET for "Pre-Market Momentum”.A Quick Run-Through of Real Examples

Using a stock screener like Finviz, we screened for small-cap stocks that matched our shorting criteria. Here are a couple of examples:

1. Cross Country Healthcare (CCRN): This stock is trading below both its 200-day and 50-day moving averages and shows weak gross and operating margins. Look for a rally up to resistance levels (50-day or 8-day moving averages) and then a rejection to enter short. In our recent setup, we saw a 7.1% downward move from our short entry.
2. Cipher Mining (CIFR): Also below both its key moving averages, Cipher Mining displayed a double-top pattern—a bearish formation—suggesting a target around $2.92. Once it breaks below the recent low, it’s primed for a potential short move.
3. Savers Value Village (SVV): Currently trading under $10 and below the 50-day moving average, SVV lacks positive momentum and has consistently weak fundamentals. It’s a good candidate for a short as it heads lower.

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Refer a Friend & Earn Together

Did you know that it pays to invite your friends to TradeZero?When they fund a new account with us, you'll both receive $100 USD. T&Cs apply.

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Yesterday’s Biggest Movers

The closing price of the top three market percent gainers trading near or above $3 on November 26.

(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)

1. $PSTX: Poseida Therapeutics

Total gain: +227.97%

The company announced that it has entered into a merger agreement to be acquired by Roche Holdings, Inc. at a price of $9.00 per share in cash at closing, along with a non-tradeable CVR offering potential contingent payments of up to $4.00 per share in cash upon achieving specific milestones. This represents a total equity value of approximately $1.5 billion on a fully diluted basis. The merger agreement has been unanimously approved by Poseida's Board of Directors, which also unanimously recommends that Poseida stockholders tender their shares in the tender offer. Benzinga reports.

2. $TOYO: Toyo Co

Total gain: +86.90%

The company is pleased to announce the signing of a significant $150 million contract to supply high-efficiency solar cells to a leading solar module manufacturer. This milestone agreement highlights the company's dedication to advancing sustainable energy and supporting the global shift toward renewable resources. Under the terms of the agreement, TOYO will provide its state-of-the-art solar cells to support the customer's expanding solar module production in both India and the U.S. Benzinga reports.

3. $PDYN: Palladyne AI

Total gain: +65.76%The stock appeared to be moving on no notable news.

Today’s Notable Earnings

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

FRO Frontline

3Q 2024

Before Market Open Estimate: 0.450

Actual: 0.340

GOGL Golden Ocean Group

3Q 2024

Before Market Open Estimate: 0.330

Actual: 0.330

CDRO Codere Online Luxembourg

3Q 2024

Before Market Open Estimate: 0.010

Actual: N/A

Today’s Key Economic Dates

Time (ET) / Report / Period

8:30 am Initial jobless claims - November 23

8:30 am Durable-goods orders - October

8:30 am Durable-goods minus transportation - October

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Parting Thoughts

“The biggest risk is not market volatility, but our own reaction to it.” ― Burton G. Malkiel

Sourced in: “A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing”, by Burton G. Malkiel, published in 2019

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