Tuesday morning brought a mixed bag for stock futures, with Dow futures slipping 0.2% as markets digested Monday's action. But the real story was happening in pre-market trading, where a collection of stocks faced notable pressure.
Leading the decliners was Jefferson Capital Inc (JCAP), which dropped sharply after announcing a secondary offering of 10 million shares. Nothing spooks investors quite like dilution news before breakfast. The stock fell 4.4% to $22.00 in pre-market action.
Here's a look at other stocks moving lower before the opening bell:
MOBIX LABS, INC. (MOBX) took the biggest hit, plummeting 25.4% to $0.24 after revealing plans to launch a common stock offering. When penny stocks announce equity raises, the market typically doesn't wait around to hear the details.
Datavault AI Inc (DVLT) shares retreated 12.4% to $1.26, giving back some of Monday's impressive 43% surge. The prior day's rally came after the company announced a nationwide planned deployment of SanQtum in partnership with AP Global to support near-real-time tokenization, data exchange, and agentic monetization in 2026. Classic case of what goes up must sometimes come down.
BitVentures Ltd - ADR (BVC) declined 9.7% to $13.33 after posting a 5% gain on Monday.
Zenas Biopharma Inc (ZBIO) dropped 6.6% to $15.50, continuing Monday's brutal 52% selloff. The collapse followed disappointing results from the Phase 3 INDIGO trial of obexelimab in Immunoglobulin G4-Related Disease (IgG4-RD).
Theravance Biopharma Inc (TBPH) slipped 6% to $17.07 after falling 3% on Friday.
Graphic Packaging Holding Co (GPK) fell 4.9% to $14.70. The company is scheduled to announce fourth quarter financial results before the market opens on Tuesday, Feb. 3.
ATRenew Inc (RERE) declined 4.1% to $5.65 after jumping 9% on Monday.
Rezolve AI PLC (RZLV) dropped 3.7% to $3.07 in pre-market trading.
NovaBay Pharmaceuticals Inc (NBY) slipped 3.4% to $6.52 after surging 15% on Monday.
Starfighters Space Inc (FJET) fell 3.3% to $9.08 after dipping 10% on Monday.