Why? If you had tuned into the top of Wednesday’s PreMarket Prep Show, the day's market action might make more sense.
What we discussed: a profound rotation is taking place in the markets.
The price action in an issue during premarket trading following an earnings announcement can often provide clues to how an issue may trade during the regular session.
The highly valued growth technology sector needed a catalyst to jumpstart it, and it got one live during Monday’s PreMarket Prep show. That catalyst came from Roblox Corp (NYSE: RBLX), which is the PreMarket Prep Stock of the Day.
After the massive rally on Thursday, investors were in full “buy the dip” mode. Even if a company did not serve up the best third-quarter report, if the stock was in the red, all the better.
In late 2020, when the world was searching for a vaccine or cure for COVID-19, the price action in Moderna Inc (NASDAQ: MRNA) was discussed frequently on Benzinga's PreMarket Prep show.
Even the richest person in the world makes a few mistakes. Similar to being in the markets, sometimes it is better to cut your losses and move on than to add on to a losing position.