Premarket Movers | Gryphon Digital Soars 59%; PALLADYNE AI Jumps 3%; Wolfspeed Sinks 8%; Centene Tumbles 24%

Gryphon Digital Mining shares soared 58.68% in premarket trading. American Bitcoin Corp. and Gryphon Digital Mining have filed an amended registration statement on Form S-4 with the SEC for their planned stock-for-stock merger, according to a press release statement issued Tuesday. American Bitcoin, a crypto venture backed by Eric Trump, has raised $220 million from private investors to purchase bitcoin and mining equipment.

Drone maker companies shined on Wednesday. PALLADYNE AI up 3%; Joby Aviation, Archer Aviation up about 2%; Ondas Holdings up 1%.

Joby Aviation announced on Monday that it achieved a historic milestone by successfully completing piloted vertical-takeoff-and-landing wingborne flights of its electric air taxi in Dubai. The development was said to mark the start of its commercial readiness in the region.

Wolfspeed Inc. sank 8% in premarket trading after soaring 98% in the previous trading day.

Centene shares tumbled over 24% after the health insurer pulled its 2025 guidance, citing insurance market trends that veered from its assumptions and threaten $1.8 billion in revenue.

Preliminary data from 22 states found an adjustment intended to compensate insurers for taking on sicker patients would fall short of Centene’s expectations, cutting $2.75 per share from its adjusted annual earnings, the company said in a statement. Details from another seven states could reduce the company’s performance further, it said. In April, Centene forecast adjusted earnings for the year exceeding $7.25 a share.