U.S. stock futures traded higher this morning ahead of the much-awaited inflation data for August. Here are some big stocks moving lower in today’s pre-market trading session.
- Rent the Runway, Inc. (NASDAQ: RENT) shares dipped 22.9% to $3.80 in pre-market trading after the company reported issued Q3 guidance below estimates and announced a workforce reduction of 24% of corporate employees. Credit Suisse (SIX:CSGN) downgraded the stock from Outperform to Neutral and lowered the price target from $7 to $4.
- InMed Pharmaceuticals Inc. (NASDAQ: INM) dropped 12.6% to $16.40 in pre-market trading. InMed Pharmaceuticals shares surged 70% on Monday after the company announced a $6 million private placement priced at $8.68 per share.
- ShiftPixy, Inc. (NASDAQ: PIXY) shares declined 10.9% to $24.30 in pre-market trading. ShiftPixy shares dropped over 20% on Monday amid profit taking after the stock surged last week following the company's announcement it plans to spin-off ShiftPixy Labs and dividend its digital securities to shareholders.
- Revance Therapeutics, Inc. (NASDAQ: RVNC) fell 7.4% to $26.00 in pre-market trading. Revance Therapeutics priced upsized 8 million share public offering of common stock at $25 per share.
- Arqit Quantum Inc. (NASDAQ: ARQQ) shares dropped 6% to $7.26 in pre-market trading after surging 38% on Monday.
- Relay Therapeutics, Inc. (NASDAQ: RLAY) shares fell 4.5% to $27.51 in pre-market trading. Relay Therapeutics priced 11.32 million share public offering of common stock at $26.50 per share.
- JD.com, Inc. (NASDAQ: JD) shares declined 3.2% to $59.84 in pre-market trading after gaining over 2% on Monday.
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