Companies Reporting Before The Bell
• Travelzoo (NASDAQ:TZOO) is expected to report quarterly earnings at $0.13 per share on revenue of $18.23 million.
Gainers
Molecular Data (NASDAQ:MKD) stock rose 4.3% to $0.18 during Monday's after-market session. The market value of their outstanding shares is at $32.8 million.
Crude oil prices traded higher on Wednesday after gaining close to 3% in the prior session, as the API reported that US crude stockpiles dropped by 875,000 barrels last week.
The IHS Markit composite PMI dipped to 50.8 in January 2022 from 57.0 a month ago, according to data released today. However, investors also focused on some insider trades in penny stocks.
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Gainers
FAT Brands Inc. (NASDAQ: FATBB) shares gained 99.2% to settle at $15.44. FAT Brands recently announced plans to acquire Fazoli’s Restaurant Chain for $130 million.