Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Gainers
- Shares of Limelight Networks, Inc. (NASDAQ:LLNW) traded up almost 11 percent in Wednesday’s after-hours session, following the announcement of its third-quarter results. Earnings of 2 cents per share beat expectations, while revenue of $46.07 million came in $2.98 million ahead of estimates.
- Adobe Systems Incorporated (NASDAQ:ADBE) gained more than 7 percent after the company said it expects estimate-beating fiscal 2018 results. EPS are forecast at $5.50 per share vs. estimates of $5.21 per share.
- Conatus Pharmaceuticals Inc (NASDAQ:CNAT) was up nearly 7 percent, driven by the European Medicines Agency’s designation of its IDN-7314 as an Orphan Drug for the treatment of primary sclerosing cholangitis (PSC).
- Liberty Global plc - Class A Ordinary Shares (NASDAQ:LILA) spiked 3.4 percent in what seemed like a correction of the 6.6 percent tumble the stock experienced since Monday.
- Gilead Sciences, Inc. (NASDAQ:GILD) up 3.5 percent after announcing its Kite Pharma unit received FDA approval for Yescarta.
- Verastem Inc (NASDAQ:VSTM) moved 5.6 percent to $4.12, in what also seemed like a correction of the 6 percent tumble seen during the day.
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Losers
- Ocean Power Technologies Inc (NASDAQ:OPTT) down 20 percent on news of a common stock offering with no size disclosed. The offering came on the heels of a 55 percent rally in the stock over the last 2 trading sessions.
- Earthstone Energy Inc (NYSE:ESTE) posted after-hours losses of 7.5 percent on the back of an operations update.
- eBay Inc (NASDAQ:EBAY) slipped 5.2 percent on weak guidance. While third quarter EPS of 48 cents was in line with estimates and revenue of $2.41 billion beat by $40 million, EPS guidance for the full year came in at $1.99 to $2.01, below the $2.02 consensus.
- Pattern Energy Group Inc (NASDAQ:PEGI) traded down 4.3 percent on the announcement of an 8 million common shares public offering.
- Kamada Ltd (NASDAQ:KMDA) also tumbled 3.65 percent on what seemed to be no particular news.
- BlueLinx Holdings Inc. (NYSE:BXC) lost 3.7 percent, adding to a large downtrend that commenced last week after the announcement of a 3.86 million shares offering.
- Steel Dynamics, Inc. (NASDAQ:STLD) down 2.9 percent after reporting inline Q3 results.
After-hours price action occurs in an environment where fewer traders are participating in price discovery. Amid this lack of activity and liquidity in certain stocks, experienced traders will sometimes attempt to manipulate sentiment by placing an order at a price markedly different than a stock's closing price or last price.
It's conceivable less savvy investors could see this price action, assume the sharply higher or lower indication is a signal of news, buy or sell the stock, and ask questions later. This is one reason after-hours price action can sometimes evaporate by the next day's morning trading session (i.e. there is no news -- just trading activity).
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.