Archer-Daniels-Midland, B. Riley Financial And Other Big Stocks Moving Lower In Monday’s Pre-Market Session – Algoma Steel Group (NASDAQ:ASTL), Archer-Daniels Midland (NYSE:ADM)

By: Alex Freidmen

Stock Market Turmoil: Big Stocks Plunge in Pre-Market Session

U.S. Stock Futures on the Rise

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 100 points on Monday.

Investors braced themselves for a bumpy pre-market session as several major stocks took a nosedive, sending shockwaves through the financial market.

Archer-Daniels-Midland Company Faces Sharp Decline

Shares of Archer-Daniels-Midland Company fell sharply in today’s pre-market trading after the company named Ismael Roig as Interim Chief Financial Officer and revised its adjusted earnings per share down to $6.90 for the fiscal year ended Dec. 2023.

Archer-Daniels-Midland shares dipped 9.6% to $61.67 in pre-market trading, intensifying the concern among stakeholders.

Other Big Stocks in Freefall

Several other prominent stocks recorded substantial losses in today’s pre-market trading session, compounding the unease in the market.

  • B. Riley Financial, Inc. shares tumbled 17.5% to $16.63 in pre-market trading after issuing a statement in response to a Bloomberg news article.
  • HUYA Inc. shares fell 8.5% to $3.11 in pre-market trading following the company’s recent acquisition announcement.
  • Algoma Steel Group Inc. shares slumped 8.3% to $8.32 in pre-market trading due to a damaging structural collapse at their coke-making plant.
  • XPeng Inc. shares dropped 7.4% to $8.93 in pre-market trading, compounding losses from the previous trading day.
  • Zai Lab Limited shares declined 6.8% to $21.84 in pre-market trading, contributing to the widespread downturn.
  • Canaan Inc. shares declined 6.7% to $1.68 in pre-market trading after a 2% decline on the previous trading day, adding to the anxiety among investors.
  • Corcept Therapeutics Incorporated shares fell 4.9% to $23.22 in pre-market trading despite reporting positive financial results and announcing a stock repurchase program.
  • Dada Nexus Limited shares witnessed a 4.8% decline to $1.80 in pre-market trading, following a gain the previous trading day, further adding to the market turmoil.
  • Baidu, Inc. shares fell 4.3% to $98.23 in pre-market trading, compounding the financial stress among investors.
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Investors remained on the edge of their seats as the pre-market session unfolded, grappling with the widespread decline in major stocks.

Despite the challenging start, the investment community closely monitored the market dynamics for potential opportunities amidst the turmoil.