Battalion Oil Corporation Common Stock (BATL)

Chris Rowe of True Market Insiders sees signs of a possible market correction and is positioning in GDXJ, XME and Battalion Oil to play a rotation into oversold metals and an oil headline hedge.

href=https://www.benzinga.com/quote/RMSG target=_blank>(NASDAQ: RMSG) lost 67.6% to $0.69 in pre-market trading. The company recently announced a 1-for-20 reverse stock split.The shares of Marvell Technology Inc (NASDAQ: MRVL) surged in pre-market trading after securing a spot in the S&P 500 index, while Real Messenger Corp (NASDAQ: RMSG) experienced a significant decline. Other gainers in pre-market trading include Dreamland Ltd (NASDAQ: TDIC), Gamehaus Holdings Inc (NASDAQ: GMHS), Nurix Therapeutics Inc (NASDAQ: NRIX), SmartKem Inc (NASDAQ: SMTK), Mountain Lake Acquisition Corp (NASDAQ: MLAC), Battalion Oil Corp (NASDAQ: BATL), Qtrex Quantum Ltd (NASDAQ: QTEX), Bone Biologics Corp (NASDAQ: BBLG), and Cullinan Therapeutics Inc (NASDAQ: CGEM).

Before the US market kicks off on Monday, let's examine the pre-market session and unveil the notable performers among the top gainers and losers.

Battalion Oil Corp (NYSE:BATL) shares are trading sharply lower Wednesday after the company reported weak fourth-quarter results late Monday.

Rising fuel costs, with U.S. diesel above $5 per gallon, are adding to inflation concerns ahead of the Federal Reserve’s policy meeting on Wednesday.

USO bucked the trend with gains in premarket trading even as most oil stocks slipped despite oil climbing above $100.

Goldman Sachs estimates that oil flows through the Strait of Hormuz have collapsed by 97%.

The economist said that projections of oil rising to $150 per barrel are low if the Middle East war drags on.

Battalion Oil Corp (NYSE: BATL) shares are trading higher Thursday as crude prices jumped on Middle East supply concerns.