Benzinga Pro’s Top 5 Stocks To Watch For Tuesday, May 2, 2023: CHGG, LYFT, FTNT, STNG, LEJU

  • Chegg (CHGG) – Shares were down nearly 50% in pre-market trade Tuesday. Many investors in Benzinga Pro’s chats discussed Chegg’s earnings results and the stocks performance. Chegg cited students using generative-AI platforms like ChatGPT as a reason last quarter’s performance might have been concerning.

  • Fortinet (FTNT) – A play on a bullish call by analysts at research shop Rosenblatt. The firm began coverage on several cybersecurity stocks with bullish ratings, including CyberArk (CYBR), CrowdStrike (CRWD), Zscaler (ZS) and Palo Alto Networks (PANW).

  • Leju Holdings (LEJU) – Several China-based US-traded stocks traded higher on heavy momentum Tuesday morning. These names each had the quality of being in “low-float territory” — having under 20 million shares in their float. The Benzinga Pro newsdesk team could not find news to justify the move higher in these momentum names.

Posted In: Pre-Market Outlook

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