Market Overview

Benzinga Pro's Top 5 Stocks To Watch For Wed., Jan. 8, 2020: GDX, BA, CVS, LK, PIXY

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Benzinga Pro's Stocks To Watch For Wednesday

  • VanEck Gold Miners ETF (GDX) - This ETF, which tracks the price action of gold mining-related assets, saw extreme volatility over Tuesday evening and Wednesday morning's sessions following retaliation by Iranian forces on 2 US bases in Iraq. Spot gold spiked to a high of $1,613.30/oz Tuesday evening but sold off sharply Wednesday. In Wednesday's pre-market session, gold last traded at $1,574.20/oz.
  • Boeing (BA) - Shares were down 1% following news Ukraine International Airlines Flight 752 crashed near Tehran. The Boeing-manufactured plane, a 737-800, is considered the predecessor to the highly-controversial 737 MAX plane.
  • CVS Health (CVS) - The stock was down about 1.5% in sympathy following worse-than-expected Q1 results out of Walgreens Boots Alliance (WBA). Walgreens shares were down nearly 6% following the quarterly report. The other peer in the drug store space, Rite Aid (RAD)​, was down 0.2% ahead of the open.
  • Luckin Coffee (LK) - The company announced a 12 million ADS offering Tuesday evening. Shares traded down about 3.5% Wednesday morning.
  • ShiftPixy (PIXY) - Shares were up more than 200% following news the company completed a recapitalization and said it closed a contract assignment worth $20 million. Probably one of the most important things for traders considering action in this stock Wednesday: ShiftPixy is a known low-float play, with just ~300K shares in its float. Low-float plays should be considered one of the most volatility ideas in a given day.

Posted-In: Pre-Market Outlook

 

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