Breaking: Nike stock Soars 7% Overnight, But Here's the Real Reason Why

Investors in the global sportswear brand Nike saw a significant surge in their shares on the pre-market trading floor. The company's stock price jumped around 7% to $86.64 in today's pre-market session after it announced some key changes in its leadership structure.

After the market close on Thursday, Nike revealed that its longtime veteran, Elliott Hill, will be taking over as the new president and CEO of Nike, effective October 14. Hill will also become a director on the board and a member of the executive committee.

The leadership change is seen as a strategic move to boost the company's overall growth, which would in turn have a positive impact on its stock price. With this major development in the sportswear industry, investors have turned their attention to Nike, thus leading to a sudden spike in its stock price.

However, Nike isn't the only company that witnessed significant stock movements on the pre-market trading floor. Various other companies saw notable changes in their stock prices during today's session.

Banzai International, Inc. gained around 148.1% to $7.12 in the pre-market trading session, topping the list of companies with significant gains. However, this shouldn't come as a surprise as the company had recently announced a 1-for-50 reverse stock split, which often leads to increased volatility in stock prices. As a result, the company's shares had plummeted around 18% on Thursday.

Battalion Oil Corporation gained an astonishing 119.4% to $6.45 in the pre-market trading session. This can be attributed to the fact that the company recently amended its merger agreement with Fury Resources for the acquisition of all outstanding shares of Battalion at $7.00 per share in cash. News of the merger sent the company's stock soaring overnight.

Other notable stocks that witnessed a significant increase include Leafly Holdings, Inc., which rose 76.7% to $3.18. Meanwhile, SRIVARU Holding Limited experienced a 53.2% jump in its stock price after gaining 11% on Thursday. As investors, keeping an eye on these stocks can be a wise move as they could potentially lead to significant gains in the days to come.

For more on Nike and its leadership transition as well as other stocks moving in the pre-market trading session, be sure to visit Benzinga.com for in-depth coverage of financial news and analysis.