During Market hours on Friday – 25.03.2022
Below some of the most representative highlights:
- The Dow (Symbol: DIA) went up 0.43%. The S&P 500 (Symbol: SPY) gained 0.49% and the Nasdaq (Symbol: QQQ) lost 0.08%.
- Bed Bath & Beyond (Symbol: BBBY) — Shares of the home goods retailer popped more than 2% after the company announced that three people from activist investor Ryan Cohen’s firm, RC Ventures, will immediately join Bed Bath & Beyond’s board.
- Nio (Symbol: NIO) — The U.S.-traded shares of the Chinese electric vehicle maker dropped 9% after Nio reported its fourth-quarter results. Nio’s fourth-quarter revenue beat expectations, but its forward guidance came in below StreetAccount estimates.
- Joby Aviation (Symbol: JOBY) — The electric aviation company’s stock jumped 12% on the back of its latest quarterly results. Joby reported earnings of 1 per share after losing 31 cents per share in the year-earlier period. Morgan Stanley also reiterated the stock as overweight, noting that Joby continues to gain steam and take “meaningful steps forward in the certification and manufacturing process.”
- Honest Company (Symbol: HNST) — Shares of the consumer goods company plummeted 22.5% on the back of mixed quarterly numbers. The Honest Company said it lost 10 cents per share on $80.4 million in revenue. Analysts expected a loss of 6 cents per share on $84.6 million in revenue, according to Refinitiv.
- Alibaba (Symbol: BABA), JD.com (Symbol: JD) — Chinese technology stocks listed in the U.S. fell again on Friday, as they continue to face increased scrutiny in China and potential U.S. delistings. Alibaba fell 1.9%, JD.com lost 2.6%, and Pinduoduo (Symbol: PDD) slid 1.5%. Didi Global (Symbol: DIDI) plummeted nearly 14%.
During Premarket hours today (Monday – 28.03.2022):
- Tesla (Symbol: TSLA) — Tesla will ask shareholders to authorize the issuance of additional shares at the upcoming annual meeting, according to a company tweet. The additional shares would enable the company to split its stock. Tesla jumped 5.4% in the premarket.
- Beyond Meat (Symbol: BYND) — Beyond Meat slid 5.1% in the premarket after Piper Sandler downgraded the stock to “neutral” from “underweight.” Piper points to increasing competition for plant-based meat substitutes, as well as lower positive expectations for the impact of a nationwide McDonald’s (MCD) launch.
- Coinbase (Symbol: COIN) — The cryptocurrency exchange operator is reportedly near a deal to buy 2TM, the parent of Brazilian cryptocurrency brokerage Mercado Bitcoin, according to a local newspaper. The paper said a deal could be closed by the end of April. Coinbase rallied 4.2% in the premarket.
- AMC Entertainment (Symbol: AMC) — AMC CEO Adam Aron told Reuters the company would strike more “transformational” deals, following its $27.9 million investment in gold and silver mine operator Hycroft Mining (Symbol: HYMC) earlier this month. AMC added 2.2% in the premarket, while Hycroft – a microcap stock with a market value of $77.3 million as of Friday’s close – surged 32.8%.
*Any information contained in this article, including any information contained in external third party links, if any, is solely for informational purposes and does not contain, or should not be construed as containing, investment advice or an investment recommendation, or, an offer of or solicitation for any transactions in financial instruments. Past performance does not guarantee or predict future performance. Colmex Pro Ltd does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on presented information.