2 Stocks to Watch as Markets Point to a Lower Open Wednesday
The stock market has been on an impressive run over the past week and a half, regaining a huge portion of its losses since November 2021. Little has changed either across the financial markets or in current events to warrant the shift in sentiment, but getting any more clarity on issues often tends to lead investors to see their initial responses to stressful situations were overreactions. After having gained as much as 12% in just the past six days, though, major market benchmarks looked poised to take a pause in the rally on Wednesday morning. As of 8:30 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 128 points to 34,581, while S&P 500 (SNPINDEX: ^GSPC) futures had fallen 22 points to 4,483 and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had given back 115 points to 14,539.
Some companies have taken steps to take advantage of the boost in share prices recently, and one that felt the sting of that decision Wednesday morning was Piedmont Lithium (NASDAQ: PLL). Elsewhere, earnings reports continued to trickle in, and recreational vehicle specialist Winnebago Industries (NYSE: WGO) wasn't quite able to give investors everything they had wanted to see despite a solid performance for its underlying business. Read on to learn more about both companies.
Shares of North Carolina-based Piedmont Lithium have risen close to their all-time highs in recent days. However, they were down more than 9% in premarket trading on Wednesday morning following news that the company had taken the opportunity to raise capital through a secondary stock offering.
Source Fool.com
