U.S. Stock Futures Lower as Pinstripes Shares Fall in Pre-Market Trading
U.S. stock futures were lower this morning, with the Dow Jones futures falling around 60 points on Wednesday. The market is seeing some volatility as investors react to various news and events.
One notable stock that saw a significant drop in pre-market trading was Pinstripes (PNST). After surging 22% on Tuesday, Pinstripes shares fell in pre-market trading today. This drop came after Pinstripes and Banyan Acquisition Corporation announced that they had closed their previously announced business combination, which was approved by Banyan’s stockholders at a meeting on December 27, 2023. Pinstripes shares fell 13% to $11.58 in pre-market trading.
In addition to Pinstripes, several other big stocks recorded losses in today’s pre-market trading session. Here are some of them:
1. BlackLine, Inc. (BL) fell 6.7% to $55.05 in pre-market trading. Piper Sandler analyst Brent Bracelin downgraded BlackLine from Neutral to Underweight and raised the price target from $53 to $60.
2. Aurora Innovation, Inc. (AUR) shares tumbled 6.4% to $3.49 in pre-market trading. Goldman Sachs analyst Mark Delaney downgraded Aurora Innovation from Neutral to Sell and raised the price target from $1.75 to $2.
3. Nukkleus Inc. (NUKK) shares declined 5.8% to $2.72 in pre-market trading.
4. Nanobiotix S.A. (NBTX) shares fell 5.5% to $6.94 in pre-market trading.
5. Fate Therapeutics, Inc. (FATE) shares declined 4.9% to $3.51 in pre-market trading.
6. SoFi Technologies, Inc. (SOFI) shares fell 4.7% to $9.20 in pre-market trading. Keefe, Bruyette & Woods analyst Michael Perito downgraded SoFi Technologies from Market Perform to Underperform and lowered the price target from $7.5 to $6.5.
7. Nkarta, Inc. (NKTX) shares declined 3.1% to $6.17 in pre-market trading after falling over 3% on Tuesday.
It’s important to note that pre-market trading can be volatile, and these stock movements may not necessarily reflect the overall market trend for the day. Investors should exercise caution and do thorough research before making any investment decisions.
In conclusion, U.S. stock futures were lower this morning, and Pinstripes shares fell in pre-market trading after a surge on Tuesday. Several other big stocks also recorded losses in pre-market trading. Investors should stay informed and cautious as they navigate the market.
