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The Newest Meme Stock

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Trade of the Day Wake-Up Watchlist

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Good Morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures were mostly flat on Wednesday. Investors are waiting on the latest CPI data, which should clue them on whether the Fed will remain hawkish on rate hikes. Markets are looking to price U.S. data into what may end up being a third straight month of subdued inflation.

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Here's a look at the top-moving stocks this morning.

Moderna, Inc. (Nasdaq: MRNA)

Moderna is up 3.67% premarket after the CDC endorsed Covid-19 boosters for everyone aged 6 months and older. The boosters against new variants could be available within the next few days. Moderna also announced its expanding the field of mrna medicine, and expects to launch up to 15 new products addressing high unmet needs.

 

WeWork Inc. (NYSE: WE)

WeWork Inc. is down 7.67% premarket after rocketing over 86% yesterday. The major boost came despite lack of company-specific news. WeWork has become known as the newest "meme stock" due to its popularity among retail investors and it's currently one of the top trading tickers on Yahoo! Finance and Stocktwits.

When stocks fall, dip buying has the potential to be an effective strategy for acquiring assets at discounted prices. Last year when markets were hitting the lowest point since the Housing Crisis, our Head Trading Fundamental Karim Rahemtulla went to work finding the best value stocks - and THIS COMPANY was his top pick. It's already up 141% year-to-date, and Karim believes it still has more room to grow.

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BP p.l.c. (NYSE: BP)

BP is up 1.78% premarket after trading lower on Tuesday due to CEO Bernard Looney's resignation. The CEO announced he was leaving the company after acknowledging he had not been "fully transparent" about personal relationships he had with colleagues. The statement says an investigation is ongoing and that relationships occurred before Looney became CEO. CFO Murray Auchincloss will act as interim CEO.

Energy and oil stocks were massive winners in 2022, and our friend Marc Lichtenfeld is so bullish on energy he's showing readers his No. 1 play to profit from the oil and gas surge in 2023. This alternative investment is not a stock, bond or private company, and it could hand you monthly income over and over again… for life.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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