Biggest stock movers today: DWAC, ACB, and more

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Stock futures are slightly lower in premarket trading on Monday, the last week of March, following a week where major averages reached new all-time closing highs.

Here are some of Monday’s biggest stock movers:

Biggest gainers

  • Shares of Digital World Acquisition (DWAC) surged over 8% after shareholders voted to approve the blank-check firm’s merger with former U.S. President Donald Trump’s media and technology company. Donald Trump will own a major stake in the combined entity, which could be valued at around $3B based on DWAC’s stock price, which has more than doubled this year.
  • Aurora Cannabis (ACB) shares rose more than 6% following the company’s agreement with investors to settle claims regarding the concealment of a revenue decline in 2019. The stock also gained from the news that Germany’s cannabis legalization was proceeding as planned, with the bill successfully clearing its final hurdle.
  • Forge Global Holdings (FRGE) shares surged over 24% the day before its scheduled Q4 earnings results. Analysts are expecting an EPS estimate of -$0.11, a 29% increase year-over-year, and a consensus revenue estimate of $19.24M, reflecting a 14.4% increase year-over-year. Last week, the company announced the public release of Forge Pro, a significant milestone in its development of a trade order management system for institutional investors trading in private company securities.

Biggest losers

  • Outlook Therapeutics (OTLK) shares declined by over 4% after closing the last trading session 22% higher. The previous trading day’s gain was driven by the Committee for Medicinal Products for Human Use of the European Medicines Agency issuing a positive opinion regarding the authorization of ONS-5010/LYTENAVA for the treatment of wet age-related macular degeneration in the EU.

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