Nikola, Iovance, Rocket Lab: Pre-Market Standouts Drawing Retail Attention Today

As U.S. equity futures edge higher, signaling potential resilience in the world's largest economy, retail investors are focused on a handful of pre-market movers. Here’s what their pulse looks like at 7:30 am ET, Friday.

Iovance Biotherapeutics (IOVA): The biopharma’s shares were surging over 27% pre-market to $10.16. The company's better-than-expected Q2 financial results and robust Q3 product revenue guidance have ignited a wave of optimism among retail investors.

CEO Fred Vogt's statement that IOVA’s skin cancer cell therapy Amtagvi and Proleukin have the potential to generate over $1 billion in peak U.S. market revenue is helping keep spirits up.

The company's strong cash position, which it says is sufficient to fund operations until early 2026, has further bolstered confidence. Retail sentiment on Stocktwits has soared to an ‘extremely bullish’ territory (82/100) from the ‘bullish’ zone a day ago, reflecting the overall enthusiasm.

While Piper Sandler recently downgraded and cut its price target on the stock, the market appears to be looking beyond this negative sentiment, with retail investors praising the company's guidance and even speculating about potential acquisitions.

Rocket Lab USA (RKLB): The aerospace company’s shares climbed over 14% pre-market, driven by its successful launch of its 50th Electron mission and better-than-expected Q2 results.

Retail investor sentiment on Stocktwits has also jumped to ‘extremely bullish’ territory (84/100) from the ‘bullish’ zone a day ago, mirroring the broader market optimism.

The company's successful hot fire test of the new Archimedes rocket engine, a crucial milestone for the upcoming Neutron launch, has further boosted investor confidence.

Nikola Corp. (NKLA): Shares of the troubled hydrogen electric vehicle-maker are seeing a pre-market uptick of over 6%, with retail sentiment shifting from ‘bearish’ to ‘bullish’ territory (56/100) among 103,000 followers on Stocktwits.

The company's upcoming Q2 earnings report, anticipated to show strong revenue growth and a narrowed net loss, has contributed to this positive shift.

Last month, Nikola reported an 80% increase in Q2 hydrogen-fuel cell truck deliveries, suggesting strong demand for their big rigs, following a troubled 2023 with battery-electric vehicle recalls over fire issues.

Nikola shares have not had a good 2024, with shares down nearly 69% year-to-date.