Recon Technology (NASDAQ:RCON) Stock, Quote.Headers.trade-ideas

Recon Technology

Recon Technology Ltd is an oilfield service company. The company is engaged in providing oilfield automation products, specialized equipment for oil and gas production and transportation, chemicals, and field services to petroleum companies mainly in the People's Republic of China (PRC). It has four reportable operating segments: Automation Product and Software, Equipment and Accessories, Platform outsourcing services, and Oilfield Environmental Protection. The majority of the firm's revenue comes from the Automation Product and Software segment which provides products and services like pumping unit controllers, natural gas flow computer systems, wireless dynamometers and wireless pressure gauges, and an oilfield monitor and data acquisition system among others.

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Why Teledyne Technologies Shares Are Trading Lower By 9%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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Shares of  Salarius Pharmaceuticals, Inc. (NASDAQ: SLRX) rose sharply in today’s pre-market trading following fourth-quarter results.

Why Salarius Pharmaceuticals Shares Are Trading Higher By Around 31%; Here Are 20 Stocks Moving Premarket

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Recon Technology, Ltd. - Class A Ordinary Shares

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Recon Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCON#NASDAQ">RCON</a>) reported quarterly losses of $(1.36) per share. This is a 466.67 percent decrease over losses of $(0.24) per share from the same period last year. The company reported $9.47 million in sales this quarter. This is a 2.37 percent increase over sales of $9.26 million the same period last year.

Earnings

Recon Technology FY24 EPS $(1.36) Down From $(0.24) YoY, Sales $9.47M Up From $9.26M YoY

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Shares of oil and gas companies are trading lower. The sector might be moving amid overall market weakness due to economic slowdown concerns following recent US data, which could negatively impact demand.

Recon Technology's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCON#NYSE">RCON</a>) short percent of float has risen 6.06% since its last report. The company recently reported that it has 27 thousand shares sold short, which is 0.35% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.61 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Recon Technology Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721048422_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Recon Technology has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Recon Technology's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Recon Technology's peer group average for short interest as a percentage of float is 3.22%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(RCON) - Analyzing Recon Technology's Short Interest

Recon Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCON#NASDAQ">RCON</a>) reported quarterly losses of $(1.16) per share. This is a 792.31 percent decrease over losses of $(0.13) per share from the same period last year. The company reported $6.37 million in sales this quarter. This is a 3.48 percent decrease over sales of $6.60 million the same period last year.

Recon Technology H1 EPS $(1.16) Down From $(0.13) YoY, Sales $6.37M Down From $6.60M YoY

Recon Technology, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCON#NASDAQ">RCON</a>) ("Recon" or the "Company") announced today that on May 22, 2024, it had received a letter dated May 22, 2024 (the "Compliance Letter") from the Listing Qualifications Hearings Department of Nasdaq notifying the Company that (i) the Company's bid price deficiency had been cured and (ii) the Company was in compliance with all applicable listing standards. Accordingly, the Compliance Letter provided that the Company's scheduled hearing had been determined to be moot and had been cancelled, and the Company's ordinary shares will continue to be listed and traded on The Nasdaq Capital Market.

Recon Technology Regains Nasdaq Compliance;  The Compliance Letter Provided That The Company's Scheduled Hearing Had Been Determined To Be Moot And Had Been Cancelled

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

General

Recon Technology Receives Nasdaq Delisting Determination; Submits Appeal

Recon Technology shares are trading higher. The company yesterday announced a 1-for-18 reverse stock splt.

Stock Split

Recon Technology Announces 1-For-18 Reverse Stock Split

Shares of Teledyne Technologies Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) fell sharply during Wednesday's session after the company reported worse-than-expected first-quarter financial results and <a href="https://www.benzinga.com/quote/TDY/earnings">cut FY24 adjusted EPS guidance.</a>
Teledyne Technologies posted adjusted earnings of $4.55 per share, missing market estimates of $4.63 per share. The company's quarterly sales came in at $1.35 billion versus expectations of $1.40 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Teledyne Technologies shares dipped 9.3% to $369.16 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSE#NASDAQ">CSSE</a>) gained 136% to $0.3570.</li>
<li>BranchOut Food Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOF#NASDAQ">BOF</a>) shares climbed 73% to $1.98 after the company announced it has expanded its existing relationship with the nation&#8217;s largest retailer, which brings the total annualized value of commitments from the retailer to over $8 million.</li>
<li>Amesite Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMST#NASDAQ">AMST</a>) jumped 55.7% to $3.10 after the company announced the Beta release of its NurseMagic app.</li>
<li>Lichen China Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LICN#NASDAQ">LICN</a>) gained 53.5% to $0.8599.</li>
<li>WiMi Hologram Cloud Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIMI#NASDAQ">WIMI</a>) rose 44.6% to $1.05.</li>
<li>Mullen Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) rose 44% to $3.93.</li>
<li>Prenetics Global Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRE#NASDAQ">PRE</a>) gained 36.6% to $6.25.</li>
<li>B. Riley Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) shares surged 29.9% to $28.20 after the company announced the results of an independent investigation showed the company and its executives had no involvement with, or knowledge of, any of the alleged misconduct concerning Mr. Kahn or any of his affiliates.</li>
<li>MMTec, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) shares climbed 29% to $2.8948.</li>
<li>Connexa Sports Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYAI#NASDAQ">YYAI</a>) gained 28.8% to $0.9427.</li>
<li>Ribbon Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBBN#NASDAQ">RBBN</a>) shares rose 27.2% to $3.2699 after the company reported first-quarter financial results and issued guidance.</li>
<li>TROOPS, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROO#NASDAQ">TROO</a>) gained 26.6% to $1.38.</li>
<li>Babcock &amp; Wilcox Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BW#NYSE">BW</a>) gained 19.9% to $1.10</li>
<li>Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) surged 12.1% to $65.13 following better-than-expected first-quarter financial results.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) gained 11.9% to $161.93 following first-quarter results.</li>
<li>Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) climbed 11.2% to $88.07 after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.</li>
<li>Intchains Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICG#NYSE">ICG</a>) gained 10.3% to $10.30.</li>
<li>Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>) surged 9.2% to $4.1402. Navitas Semiconductor is expected to report first-quarter financial results on Thursday, May 9.</li>
<li>Westinghouse Air Brake Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) surged 9% to $161.84 after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.</li>
<li>Stride, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) surged 8.4% to $63.07 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) gained 6.4% to $176.10 following a first-quarter earnings beat.</li>
<li>Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) surged 6.2% to $73.24 after the company reported better than expected first-quarter earnings and issued guidance.</li>
<li>Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) rose gained 4.4% to $205.69 after the company reported better-than-expected first-quarter financial results and raised FY24 adjusted EPS guidance.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Neo-Concept International Group Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCI#NASDAQ">NCI</a>) fell 67.4% to $3.06 after jumping over 137% on Tuesday. The company priced its IPO at $4 per share.</li>
<li>iSun, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISUN#NASDAQ">ISUN</a>) fell 40% to $0.0901 after the company announced a reverse stock split.</li>
<li>GlucoTrack, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCTK#NASDAQ">GCTK</a>) declined 36.8% to $0.4801.</li>
<li>Evotec SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NASDAQ">EVO</a>) shares dipped 32.4% to $5.27 after reporting fiscal year 2023 results.</li>
<li>Avenue Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATXI#NASDAQ">ATXI</a>) fell 31% to $0.0925 after the company announced a reverse stock split.</li>
<li>Vaxxinity, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VAXX#NASDAQ">VAXX</a>) dipped 26.8% to $0.1464.</li>
<li>Applied DNA Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APDN#NASDAQ">APDN</a>) fell 20% to $0.2320.</li>
<li>Brand Engagement Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) shares dipped 19.5% to $3.46.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares declined 18.8% to $1.81.</li>
<li>Recon Technology, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCON#NASDAQ">RCON</a>) fell 16.5% to $0.0845.</li>
<li>Finch Therapeutics Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNCH#NASDAQ">FNCH</a>) fell 15.5% to $2.35.</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) shares slipped 13.9% to $77.13 following downbeat quarterly earnings.</li>
<li>Mersana Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRSN#NASDAQ">MRSN</a>) fell 11% to $2.8600.</li>
<li>Helen of Troy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) dipped 9.8% to $90.45 after the company reported fourth-quarter financial results and issued FY25 guidance below estimates.</li>
<li>Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares declined 9.7% to $197.95 following a first-quarter revenue miss.</li>
<li>Vicor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) dipped 8.5% to $32.17 after the company reported worse-than-expected first-quarter sales results.</li>
<li>Sleep Number Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNBR#NASDAQ">SNBR</a>) fell 8.4% to $13.38.</li>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) shares declined 8.4% to $211.18 following quarterly results.</li>
<li>Equinox Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NYSE">EQX</a>) fell 8.2% to $5.25. Equinox Gold entered into a binding share purchase agreement with certain funds managed by Orion Mine Finance Management LP to acquire Orion&#8217;s 40% interest in Greenstone Gold Mine GP Inc., giving Equinox Gold 100% ownership of the Greenstone Mine in Ontario, Canada.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) fell 4.5% to $108.43 after the company reported worse-than-expected first-quarter financial results and issued second-quarter revenue guidance below estimates.</li>
<li>Lithia Motors, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) shares fell 4.3% to $253.02 following downbeat quarterly earnings.</li>
</ul>
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Why Teledyne Technologies Shares Are Trading Lower By 9%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Shares of Salarius Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/slrx#NASDAQ">SLRX</a>) rose sharply in today&rsquo;s pre-market trading <a href="https://www.benzinga.com/quote/SLRX/earnings">following fourth-quarter results.</a>
Salarius Pharmaceuticals posted a net loss of $0.9 million, or 22 cents per share for the fourth quarter, narrower than the year-ago loss of $6.4 million, or $2.83 per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Salarius Pharmaceuticals shares jumped 31.4% to $0.8149 in pre-market trading
Here are some other stocks moving in pre-market trading.
<h3>Gainers</h3>
<ul>
<li>Next.e.GO N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/egox#NASDAQ">EGOX</a>) shares rose 85.8% to $0.0730 in pre-market trading after falling around 22% on Friday.</li>
<li>MicroAlgo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mlgo#NASDAQ">MLGO</a>) rose 56.7% to $6.30 in pre-market trading after declining around 5% on Friday.</li>
<li>Forge Global Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/frge#NYSE">FRGE</a>) shares gained 22.8% to $2.86 in pre-market trading after gaining 13% on Friday.</li>
<li>Canopy Growth Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) gained 19.5% to $9.17 in pre-market trading. The German government approved legislation which legalizes the possession and cultivation of cannabis beginning April 1.</li>
<li>Flora Growth Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flgc#NASDAQ">FLGC</a>) shares rose 17.7% to $1.86 in pre-market trading after surging around 34% on Friday.</li>
<li>Cazoo Group Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/czoo#NASDAQ">CZOO</a>) gained 17.3% to $4.35 in pre-market trading after declining around 21% on Friday.</li>
<li>Biophytis S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bpts#NASDAQ">BPTS</a>) climbed 17.1% to $0.4471 in pre-market trading. Biophytis recently presented its Phase 3 protocol of RuvembriTM in the treatment of Sarcopenia at the ICFSR.</li>
<li>Recon Technology, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcon#NASDAQ">RCON</a>) shares rose 14.5% to $0.1570 in pre-market trading.</li>
<li>Esperion Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/espr#NASDAQ">ESPR</a>) gained 12.7% to $2.58 in pre-market trading as the U.S. FDA approved broad new labels for Esperion&#39;s NEXLETOL&reg; and NEXLIZET&reg; to prevent heart attacks and cardiovascular procedures in both primary and secondary prevention patients, regardless of statin use.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Sintx Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sint#NASDAQ">SINT</a>) dipped 29.7% to $0.0650 in pre-market trading. SINTX Technologies shares dipped 32% on Friday after the company announced a proposed public offering of common stock.</li>
<li>Invivyd, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ivvd#NASDAQ">IVVD</a>) declined 14.8% to $3.72 in pre-market trading. Invivyd shares jumped 41% on Friday after the company announced that PEMGARDA received emergency use authorization from the FDA for the pre-exposure prophylaxis of COVID-19.</li>
<li>Greenlane Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gnln#NASDAQ">GNLN</a>) fell 10.8% to $0.52 pre-market trading after jumping around 11% on Friday.</li>
<li>BYND Cannasoft Enterprises Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bcan#NASDAQ">BCAN</a>) fell 10.8% to $2.24 pre-market trading after dipping 31% on Friday.</li>
<li>Mangoceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgrx#NASDAQ">MGRX</a>) shares tumbled 9.7% to $0.1688 in pre-market trading after declining around 5% on Friday.</li>
<li>Australian Oilseeds Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coot#NASDAQ">COOT</a>) fell 8.5% to $2.27 in pre-market trading after falling over 22% on Friday.</li>
<li>Ontrak, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/otrk#NASDAQ">OTRK</a>) fell 8.2% to $0.36 in pre-market trading after jumping around 50% on Friday.</li>
<li>Murano Global Investments Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrno#NASDAQ">MRNO</a>) shares fell 7.6% to $19.64 in pre-market trading amid volatility following the company&#39;s recently completed business combination with HCM Acquisition Corp and Nasdaq debut last week.</li>
<li>Laser Photonics Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lase#NASDAQ">LASE</a>) shares fell 6.5% to $1.73 in pre-market trading after dipping around 9% on Friday. Laser Photonics, last week, announced a distribution agreement with Incredible Supply &amp; Logistics (ISL) for its military and industrial laser solutions.</li>
<li>OKYO Pharma Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/okyo#NASDAQ">OKYO</a>) shares tumbled 6.2% to $1.44 after falling around 13% on Friday. OKYO Pharma, last week, announced additional key findings from analyses of the clinical data set from the 240-patient Phase 2 trial evaluating the safety and efficacy of OK-101 (0.05%) ophthalmic solution in patients with dry eye disease (DED).</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/24/03/37889754/top-5-consumer-stocks-that-may-crash-this-month"> Top 5 Consumer Stocks That May Crash This Month</a>

Recon Technology Announces Two Recently-Awarded Contracts With Total Value Over $3M

Shares of The Container Store Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tcs#NYSE">TCS</a>) shares fell sharply during Wednesday&rsquo;s session following weak quarterly results.
Container Store Group posted adjusted loss of 8 cents per share, compared to market expectations for a loss of 5 cents per share. The company&rsquo;s quarterly sales came in at $214.90 million versus estimates of $220.72 million.
Container Store Group shares dipped 22.7% to $1.3150 on Wednesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>MicroCloud Hologram Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holo#NASDAQ">HOLO</a>) shares jumped 400% to $7.51. The company announced it planned to join the Communications Industry Association. HOLO intends to join the Communications Industry Association to foster information technology innovation.</li>
<li>SMX (Security Matters) Public Limited Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smx#NASDAQ">SMX</a>) shares climbed 138% to $0.5528.</li>
<li>Glatfelter Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/glt#NYSE">GLT</a>) climbed 68.8% to $2.1450 after the company and Berry Global announced they entered into definitive agreements for Berry to spin-off and merge the majority of its Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business with Glatfelter.</li>
<li>MariaDB plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrdb#NYSE">MRDB</a>) gained 57% to $0.3782 after jumping more than 26% on Tuesday.</li>
<li>ThermoGenesis Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/thmo#NASDAQ">THMO</a>) climbed 37.7% to $0.8101.</li>
<li>Recon Technology, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcon#NASDAQ">RCON</a>) rose 33.3% to $0.1934.</li>
<li>Ault Alliance, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ault#NYSE">AULT</a>) surged 28.1% to $0.4549. Ault Alliance said it determined not to pursue new acquisitions during 2024, though it may continue to make strategic investments.</li>
<li>Luokung Technology Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lkco#NASDAQ">LKCO</a>) gained 27.4% to $0.6269.</li>
<li>MicroAlgo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mlgo#NASDAQ">MLGO</a>) rose 27% to $0.4939.</li>
<li>Aviat Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avnw#NASDAQ">AVNW</a>) surged 23.7% to $37.20 after the company reported better-than-expected second-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>Jianpu Technology Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jt#NYSE">JT</a>) gained 18.5% to $0.7584.</li>
<li>Enphase Energy, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/enph#NASDAQ">ENPH</a>) rose 17.7% to $118.36 after the company reported quarterly financial results.</li>
<li>Sonos, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sono#NASDAQ">SONO</a>) gained 17.6% to $19.36 after the company reported better-than-expected quarterly financial results.</li>
<li>XPO, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpo#NYSE">XPO</a>) climbed 16.6% to $114.34 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Cirrus Logic, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crus#NASDAQ">CRUS</a>) gained 15.1% to $90.28 after the company reported better-than-expected quarterly financial results.</li>
<li>Green Plains Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gpre#NASDAQ">GPRE</a>) climbed 14.6% to $22.94 following quarterly results.</li>
<li>Hitek Global Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hkit#NASDAQ">HKIT</a>) rose 14.1% to $0.81.</li>
<li>Griffon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gff#NYSE">GFF</a>) gained 13.8% to $68.55 following upbeat results.</li>
<li>REGENXBIO Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rgnx#NASDAQ">RGNX</a>) rose 13.3% to $14.78. Regenxbio has completed enrollment at dose level 2 and reported additional interim safety and efficacy in Phase 1/2 AFFINITY DUCHENNE trial of Rgx-202 in patients with Duchenne Muscular Dystrophy ages 4 to11 years old.</li>
<li>O-I Glass, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oi#NYSE">OI</a>) climbed 12.7% to $16.19 following upbeat results.</li>
<li>Frontier Group Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ulcc#NASDAQ">ULCC</a>) rose 11.3% to $6.93. Frontier reported fourth-quarter financial results and issued guidance.</li>
<li>Silicon Laboratories Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/slab#NASDAQ">SLAB</a>) jumped 11.1% to $131.43 after the company reported better-than-expected quarterly financial results and issued guidance.</li>
<li>Griid Infrastructure Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grdi#NASDAQ">GRDI</a>) gained 10.9% to $2.35 after gaining over 4% on Tuesday.</li>
<li>Emerson Electric Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/emr#NYSE">EMR</a>) climbed 10.8% to $104.44 after the company reported better-than-expected quarterly earnings and raised FY24 outlook.</li>
<li>Yum China Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yumc#NYSE">YUMC</a>) shares rose 9.9% to $41.14 after the company reported fourth-quarter financial results and increased its dividend.</li>
<li>IHS Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ihs#NYSE">IHS</a>) gained 8.1% to $3.1250.</li>
<li>Fortinet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftnt#NASDAQ">FTNT</a>) rose 4% to $70.13 after the company reported better-than-expected fourth-quarter financial results and issued guidance.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Snap Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>) shares dipped 35.2% to $11.30 after the company reported mixed fourth-quarter results.</li>
<li>Sunworks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sunw#NASDAQ">SUNW</a>) shares fell 29.1% to $0.0617. Sunworks shares dipped 58% on Tuesday after the company announced it ceased operations and filed voluntary petitions for relief under the provisions of Chapter 7 of Title 11 of the United States Code.</li>
<li>CytoMed Therapeutics Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gdtc#NASDAQ">GDTC</a>) dipped 26.7% to $2.25.</li>
<li>fuboTV Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fubo#NYSE">FUBO</a>) shares fell 25.7% to $1.8650 after gaining around 4% on Tuesday.</li>
<li>Volcon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vlcn#NASDAQ">VLCN</a>) tumbled 23.6% to $2.62.</li>
<li>The E.W. Scripps Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ssp#NASDAQ">SSP</a>) fell 22.8% to $5.74.</li>
<li>MedAvail Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdvl#NASDAQ">MDVL</a>) shares declined 20.4% to $2.61 after jumping 92% on Tuesday.</li>
<li>Triumph Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgi#NYSE">TGI</a>) fell 18.8% to $13.35 after the company reported below-consensus third-quarter results and cut the FY24 outlook.</li>
<li>Perion Network Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/peri#NASDAQ">PERI</a>) fell 18.6% to $24.00 after the company issued worse-than-expected FY24 outlook.</li>
<li>ePlus inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plus#NASDAQ">PLUS</a>) shares declined 17.6% to $64.50 after the company reported worse-than-expected third-quarter results.</li>
<li>The Hain Celestial Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hain#NASDAQ">HAIN</a>) fell 16.9% to $9.42 after the company reported worse-than-expected quarterly revenue results.</li>
<li>Soho House &amp; Co Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shco#NYSE">SHCO</a>) fell 15.9% to $5.20.</li>
<li>KKR Real Estate Finance Trust Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kref#NYSE">KREF</a>) shares dipped 14.3% to $10.09 following fourth-quarter results.</li>
<li>Alpha and Omega Semiconductor Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aosl#NASDAQ">AOSL</a>) fell 14.1% to $22.11. The company reported second-quarter financial results and issued revenue guidance.</li>
<li>New York Community Bancorp, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nycb#NYSE">NYCB</a>) shares declined 12.8% to $3.6599. Fitch downgraded NYCB&rsquo;s long-term credit rating to one notch above non-investment grade at BBB-. Moody&rsquo;s downgraded NYCB&#39;s debt rating from Baa3 to Ba2.</li>
<li>Viasat, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vsat#NASDAQ">VSAT</a>) fell 12.7% to $19.88 after the company reported quarerly financial results.</li>
<li>V.F. Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vfc#NYSE">VFC</a>) shares declined 12.2% to $14.88 after the company reported worse-than-expected third-quarter financial results.</li>
<li>Vestis Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vsts#NYSE">VSTS</a>) fell 10.2% to $20.03 after the company reported worse-than-expected first-quarter sales results.</li>
<li>Rekor Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rekr#NASDAQ">REKR</a>) fell 9.5% to $2.7150 after the company announced the launch of a proposed follow-on public offering of common stock.</li>
<li>Berry Global Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bery#NYSE">BERY</a>) fell 9.2% to $58.35 after the company reported below-consensus first-quarter FY24 results and disclosed a deal for a tax-free spin-off and merger of Berry&#39;s Health.</li>
<li>Valley National Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vly#NASDAQ">VLY</a>) declined 8.3% to $7.49.</li>
<li>ADDvantage Technologies Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aey#NASDAQ">AEY</a>) fell 6.6% to $0.5790 after surging 77% on Tuesday.</li>
</ul>
&nbsp;
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Why Container Store Group Shares Are Trading Lower By Around 23%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Gainers
Cellectis S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clls#NASDAQ">CLLS</a>) shares surged 152% to $2.43 in pre-market trading. Cellectis reported strategic collaboration and investment agreements with AstraZeneca. Cellectis also presented pre-clinical data on multi-armored allogeneic MUC1-CAR T-cells targeting triple-negative breast cancer at the Society for Immunotherapy of Cancer 38th Annual Meeting.
GDEV Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gdev#NASDAQ">GDEV</a>) shares rose 26.2% to $2.55 in pre-market trading after falling 11% on Tuesday.
Sientra, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sien#NASDAQ">SIEN</a>) shares rose 24.7% to $0.7980 in pre-market trading. Sientra shares fell 56% on Tuesday after the company withdrew its FY23 guidance and reported interim third-quarter financial results.
Bruush Oral Care Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brsh#NASDAQ">BRSH</a>) rose 16.6% to $0.2751 in pre-market trading after falling 17% on Tuesday.
Fujian Blue Hat Interactive Entertainment Technology Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bhat#NASDAQ">BHAT</a>) shares climbed 15% to $0.9999 in pre-market trading after falling 10% on Tuesday.
NOVONIX Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvx#NASDAQ">NVX</a>) shares gained 14.8% to $2.10 in pre-market trading. NOVONIX said its NOVONIX Anode Materials division finalized its $100 million grant award from the U.S. Department of Energy.
Society Pass Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sopa#NASDAQ">SOPA</a>) shares jumped 14.1% to $0.4297 in pre-market trading.
DBV Technologies S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dbvt#NASDAQ">DBVT</a>) rose 11.8% to $1.13 in pre-market trading after the company announced the receipt of written feedback from the U.S. FDA regarding the remaining study design elements for the COMFORT supplemental safety studies. The company also reported results for the third quarter.
Plus Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pstv#NASDAQ">PSTV</a>) shares rose 11.3% to $1.37 in pre-market trading after the company reported third-quarter financial results and announced a share repurchase program.
FLJ Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flj#NASDAQ">FLJ</a>) gained 9.3% to $0.2733 in pre-market trading. FLJ Group reported disposal of long-term apartment rental business.
Losers
WeWork Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/we#NYSE">WE</a>) dipped 37.3% to $1.43 in pre-market trading. According to a Wall Street Journal report citing people familiar with the matter, WeWork plans to file for Chapter 11 bankruptcy in New Jersey as soon as next week.
Paycom Software, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/payc#NYSE">PAYC</a>) shares fell 37.1% to $154.15 in pre-market trading after the company reported worse-than-expected third-quarter sales results and issued FY23 revenue guidance below estimates. Several analysts also downgraded the stock today.
Tonix Pharmaceuticals Holding Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tnxp#NASDAQ">TNXP</a>) shares fell 30.5% to $0.41 in pre-market trading after the company reported topline results from Phase 2 proof-of-concept study of TNX-601 ER for the treatment of major depressive disorder.
Big 5 Sporting Goods Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bgfv#NASDAQ">BGFV</a>) shares fell 16.6% to $5.89 in pre-market trading after the company reported weaker-than-expected results for its third quarter.
Tempo Automation Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmpo#NASDAQ">TMPO</a>) shares fell 13.6% to $0.0717 in pre-market trading after dipping 30% on Tuesday.
Brainstorm Cell Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bcli#NASDAQ">BCLI</a>) fell 13.3% to $0.1326 in pre-market trading.
Yum China Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yumc#NYSE">YUMC</a>) shares fell 12.4% to $46.00 in pre-market trading after the company reported worse-than-expected financial results for its third quarter.
BAIYU Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/byu#NASDAQ">BYU</a>) fell 12% to $1.83 in pre-market after dipping 19% on Tuesday.
Lexicon Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lxrx#NASDAQ">LXRX</a>) fell 11.2% to $1.10 in pre-market trading. Lexicon Pharmaceuticals said Matthew Cullen is joining the company as vice president of value and access, effective Nov. 1, 2023, and Lisa DeFrancesco will join as head of investor relations and corporate strategy, effective Nov. 13, 2023.
Recon Technology, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcon#NASDAQ">RCON</a>) shares fell 9.9% to $0.2081 in pre-market trading. The company recently said total revenue fell 19.9% to RMB67.1 million ($9.3 million) for the year ended June 30, 2023.
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Why Plus Therapeutics Shares Are Trading Higher By Over 11%; Here Are 20 Stocks Moving Premarket

<h3>Gainers</h3>
<ul>
<li>ReShape Lifesciences Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rsls#NASDAQ">RSLS</a>) shares surged 62.8% to $0.3348 in pre-market trading after gaining over 6% on Tuesday. ReShape Lifesciences recently announced pricing of $3.0 million public offering.</li>
<li>Nuvve Holding Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvve#NASDAQ">NVVE</a>) shares gained 30% to $0.1931 in pre-market trading after falling 10% on Tuesday. Nuvve recently announced pricing of a $1 million underwritten public offering of roughly 7 million shares of common stock at a price to the public of $0.14 per share.</li>
<li>NextPlat Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxpl#NASDAQ">NXPL</a>) shares rose 28.6% to $2.26 in pre-market trading after gaining over 3% on Tuesday.</li>
<li>Bruush Oral Care Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brsh#NASDAQ">BRSH</a>) rose 25.7% to $0.4832 in pre-market trading after gaining around 4% on Tuesday.</li>
<li>LumiraDx Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lmdx#NASDAQ">LMDX</a>) gained 24.7% to $0.1933 in pre-market trading after dipping around 44% on Tuesday.</li>
<li>Cognition Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgtx#NASDAQ">CGTX</a>) shares rose 16.5% to $1.41 in pre-market trading. Cognition Therapeutics presented complete EEG findings from SEQUEL study of CT1812 in mild-to-moderate Alzheimer&#39;s disease at the Clinical Trials on Alzheimer&rsquo;s Disease (CTAD) conference.</li>
<li>BioVie Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bivi#NASDAQ">BIVI</a>) shares climbed 16.4% to $3.90 in pre-market trading after gaining around 3% on Tuesday.</li>
<li>Sonendo, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sonx#NYSE">SONX</a>) shares jumped 15.2% to $0.2650 in pre-market trading after falling over 23% on Tuesday. Sonendo recently announced preliminary revenue results for the third quarter.</li>
<li>Recon Technology, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcon#NASDAQ">RCON</a>) rose 12.1% to $0.2988 in pre-market trading.</li>
<li>Microsoft Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) shares rose 3.6% to $342.51 in pre-market trading as the company posted stronger-than-expected results for its fiscal first quarter on Tuesday. Piper Sandler maintained Microsoft with an Overweight and raised the price target from $400 to $425.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Appreciate Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sfr#NASDAQ">SFR</a>) dipped 32.7% to $0.1001 in pre-market trading. Appreciate Holdings received a notice from Nasdaq regarding delisting.</li>
<li>Intrusion Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intz#NASDAQ">INTZ</a>) shares fell 28.1% to $0.2479 in pre-market trading after declining over 7% on Tuesday.</li>
<li>Tharimmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/thar#NASDAQ">THAR</a>) shares fell 25.1% to $0.1888 in pre-market trading after jumping 34% on Tuesday.</li>
<li>InMed Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/inm#NASDAQ">INM</a>) shares fell 23.2% to $0.76 in pre-market trading. InMed Pharmaceuticals announced a $5.2 million private placement and preferred investment option exercise priced at-the-market under Nasdaq rules.</li>
<li>Vicor Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vicr#NASDAQ">VICR</a>) fell 20.8% to $42.11 in pre-market trading after reporting results for the third quarter.</li>
<li>Alphatec Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atec#NASDAQ">ATEC</a>) shares fell 14.5% to $10.96 in pre-market trading after the company priced underwritten public offering of 14.3 million common shares at $10.50 per share.</li>
<li>Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sonn#NASDAQ">SONN</a>) fell 13.8% to $1.56 in pre-market after declining 12% on Tuesday.</li>
<li>Ascent Solar Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asti#NASDAQ">ASTI</a>) shares fell 12.5% to $1.05 in pre-market trading. Ascent Solar shares jumped 22% on Tuesday after the company announced the initial concept paper submitted for DE-FOA-000305 has been reviewed and received an &quot;Encouraged&quot; decision from the DOE.</li>
<li>Lipella Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lipo#NASDAQ">LIPO</a>) fell 10.2% to $2.02 in pre-market trading. Lipella Pharmaceuticals announced a $2 million private placement priced at-the-market under Nasdaq rules.</li>
<li>Alphabet Inc. (NASDAQ: <a href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) shares fell 6.8% to $129.42 in pre-market trading. Alphabet reported better-than-expected earnings and sales results for its third quarter, but recorded downbeat performance for its cloud computing unit.</li>
</ul>
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Why Microsoft Shares Are Trading Higher; Here Are 20 Stocks Moving Premarket

Recon Technology (RCON) has released an update. Recon Technology, Ltd., China's first non-state owned oil and gas field service company listed on N...

Recon Technology Challenges Nasdaq Delisting

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
If you&rsquo;ve been paying attention to the market, a bearish list on oil and gas stocks might seem odd. Looking at two primary indicators of crude prices &mdash; West Texas Intermediate (WTI) and Brent crude oil &mdash; prices for the commodity have risen steadily in 2024. For some perspective, the WTI has risen 17% on a year-to-date basis as of last Friday and Brent crude oil 16%. Similarly, the S&amp;P Oil &amp; Gas Exploration &amp; Production ETF, which holds 55 companies that explore for and produce oil and natural gas, is up more than 15% for the year as of last Friday. This further underscores the point that many oil and gas stocks are doing okay. However, there are still certain oil and gas stocks to avoid. 



Ongoing geopolitical conflict in the Middle East as well as the various supply cuts OPEC initiated in 2023 are largely responsible for the global uptick in crude prices. Of course, just because most oil and gas companies are doing fine these days, does not mean there aren&rsquo;t some that investors should avoid in the near term. Warning signals of an eventual stock market crash are still flashing, especially as the Federal Reserve keeps the Federal Funds rate elevated and as U.S. equities trade at frothy multiples. If a crash is imminent, these are the three oil and gas stocks to avoid.



<h2>ExxonMobil (XOM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/xom-stock-4-300x169.jpg" alt="A view of a well-lit Exxon Mobil gas station in Pasadena, CA during nighttime. representing exxon mobil stock"><div>Source: Michael Gordon / Shutterstock.com</div></div>ExxonMobil (NYSE:<a href="https://investorplace.com/stock-quotes/xom-stock-quote/">XOM</a>) is one of the most prolific (and infamous) oil and gas companies in the United States. The vertically integrated behemoth does everything from exploration, production, refining and marketing of a variety of oil and gas products. The oil giant is not only diversified in terms of its vertical integration but also geographically. The South American country Guyana has popped up in market news about crude oil and for good reason. The country has 11 billion barrels of oil reserves underneath its coast, and ExxonMobil has done well to take advantage of it. The company <a href="https://corporate.exxonmobil.com/locations/guyana">boasts</a> on its website that, &ldquo;ExxonMobil Guyana is the first and largest oil producer in Guyana.&rdquo; 



Geographically diversification is important especially when we&rsquo;re discussing non-renewable resources. However, not everything is going well for ExxonMobil. In its first quarter earnings report, net income <a href="https://www.cnbc.com/2024/04/26/exxon-xom-q1-2024-earnings-report.html">declined</a> 28% due to falling natural gas prices and compressed margins in Exxon&rsquo;s refinery business. A stock like ExxonMobil is lucrative investment if its generating large sums of net income for shareholders. If natural gas prices continue to slip, which is possible if the U.S. economy <a href="https://www.bloomberg.com/news/articles/2024-04-25/us-economy-expands-at-1-6-rate-trailing-all-forecasts">continues</a> to slowdown, then Exxon&rsquo;s attractiveness as an equity investment fades away.



<h2>Philips 66 (PSX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/psx-stock-300x169.jpg" alt="Phillips 66 gas station in the daytime"><div>Source: Jonathan Weiss / Shutterstock.com</div></div>Philips 66 (NYSE:<a href="https://investorplace.com/stock-quotes/psx-stock-quote/">PSX</a>) is a diversified oil and chemicals behemoth. The company mainly operates a midstream oil business, which helps to transport crude oil and deliver refined oil products to the market. The company&rsquo;s chemicals business produces and sells a variety of chemicals that miners and drillers leverage in its operations. Having a diversified business has helped Philips 66 to generate billions in net income. In 2023, Philips 66 generated over $7 billion in net income.



Unfortunately, similar to ExxonMobil, Philips 66 has run into some profitability issues in 2024. Philips 66 first quarter earnings <a href="https://investor.phillips66.com/financial-information/news-releases/news-release-details/2024/Phillips-66-Reports-1Q-2024-Financial-Results-Highlights-Strategic-Priorities-Progress/default.aspx">delivered</a> $748 million of non-adjusted net income. This figure is nearly 3 times smaller than the $1.9 billion Philips 66 had reported in Q1&rsquo;2023. The company&rsquo;s midstream and refining segments took the most hits in terms of margin and earnings, while its chemicals segment grew earnings modestly year-over-year.



Investors are clearly not happy with the results, as Philips 66&rsquo;s stock has continued to trend sharply downward since then. Again, oil and gas stocks that are making less profits than it was in prior periods are probably better to avoid, particularly during times of market volatility.



<h2>Recon Technology (RCON)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/oil1600h-300x169.jpg" alt="miniature oil barrel and oil well figures on top of stack of money"><div>Source: Shutterstock</div></div>Recon Technology (NASDAQ:<a href="https://investorplace.com/stock-quotes/rcon-stock-quote/">RCON</a>) is a penny stock that investors should avoid getting their money stuck in. Founded in 2009, Recon develops onsite petroleum mining equipment and software. Being a capital-intensive business, margins is everything and Recon Technology has managed to miss the mark. While 2022 was a good year for the petroleum mining equipment firm&rsquo;s net income, as it was for many firms in the oil and gas sector, 2023 saw both revenue growth and margins significantly compress.



Investors could probably expect underwhelming margins for some time. The oil and gas market may start to cool, and the petroleum mining equipment sector is full of capable firms that have better financial figures. Not to mention, while <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> can make a good volatility play, the lack of liquidity coupled with the crumbling fundamentals of Recon&rsquo;s business do not make any kind of bet on this stock enticing.



On the date of publication, Tyrik Torres&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Tyrik Torres has been studying and participating in financial markets since he was in college, and he has particular passion for helping people understand complex systems. His areas of expertise are semiconductor and enterprise software equities. He has work experience in both investing (public and private markets) and investment banking.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/stock-market-crash-warning-dont-get-caught-holding-these-3-oil-gas-stocks/">Stock Market Crash Warning: Don&#8217;t Get Caught Holding These 3 Oil &amp; Gas Stocks</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Stock Market Crash Warning: Don't Get Caught Holding These 3 Oil & Gas Stocks

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