**Investopedia News Update: June 21, 2024**
The stock market is buzzing with activity as various companies make headlines for their performance in premarket trading. Here are the key highlights for investors to keep an eye on today:
### 1. Nvidia Faces Decline Amidst “Triple Witching” Day
Nvidia (NVDA) shares are experiencing a 1.5% drop in premarket trading, following a recent decline that saw the AI chipmaker lose its title as the world’s most valuable company. As Microsoft (MSFT) reclaimed the top spot, Nvidia’s stock has been on a rollercoaster ride, with a significant increase of over 160% this year. The company’s performance will be closely watched as the market braces for the quarterly event known as “triple witching,” which can lead to heightened volatility.
### 2. Gilead Sciences Continues to Rise on HIV Drug Efficacy
Gilead Sciences (GILD) is seeing a 3% increase in premarket trading after announcing positive results from a Phase 3 trial of its lenacapavir drug. The study found the drug to be 100% effective in preventing HIV infection in women, prompting an endorsement from an independent data monitoring committee to offer lenacapavir to all participants.
### 3. Sarepta Therapeutics Surges on FDA Approval
Biotech company Sarepta Therapeutics (SRPT) is witnessing a remarkable 37% surge in premarket trading following expanded FDA approval for its gene therapy to treat Duchenne muscular dystrophy. The approval now allows broader access to the treatment for patients aged 4 and older, marking a significant milestone for the company.
### 4. Chipotle Prepares for Stock Split
Chipotle Mexican Grill (CMG) is gearing up for a 50-for-1 stock split next week, with shares currently up by less than 1% in premarket trading. The company recently experienced a 6.2% decline, its largest since last July, ahead of the upcoming split. The move aims to make Chipotle’s shares more accessible to a wider range of investors.
### 5. CarMax Shows Resilience Despite Missed Forecasts
CarMax (KMX) shares are up by 1.2% in premarket trading, despite the company’s quarterly results falling short of Wall Street expectations. The retailer announced plans to expand its asset-backed securitization program to boost finance income, following a decrease in net sales compared to the same period last year.
As U.S. stock futures dip amidst Nvidia’s declines, investors are advised to stay informed and monitor these key developments in the market. Stay tuned for more updates as the day unfolds.
For more financial news and insights, visit [Investopedia](https://www.investopedia.com/).
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