During Market hours Yesterday (Tuesday – 13.06.2022)

  • The Dow (Symbol: DIA) went down 2.80%. The S&P 500 (Symbol: SPY) lost 3.80% and the Nasdaq (Symbol: QQQ) dropped 4.65%.
  • Coinbase (Symbol: COIN), Microstrategy (Symbol: MSTR) — Shares of cryptocurrency-related companies sold off as the price of bitcoin and other digital tokens pulled back sharply. Crypto exchange Coinbase dropped more than 11%, while software name and big bitcoin holder Microstrategy slumped 25%. Bitcoin tumbled below $23,000 on Monday, hitting its lowest level since December 2020, as investors dump crypto amid a broader sell-off in risk assets.
  • Astra Space (Symbol: ASTR) — Shares of the rocket builder plunged 23% after a weekend launch carrying NASA satellites failed to reach orbit. Astra’s rocket LV0010 took off on Sunday from launch complex 46 at Cape Canaveral in Florida, carrying two satellites on NASA’s TROPICS-1 mission. The mission represents the company’s second mission failure in three launches this year.
  • Revlon (Symbol: REV) — Shares cratered over 42% following reports Friday that said the cosmetics company is preparing to file for bankruptcy as early as this week. A Wall Street Journal report citing unnamed sources said Revlon has been struggling with a high debt load, rising competition and greater supply chain pressures.
  • DocuSign (Symbol: DOCU) — Shares of the software company fell again Monday, shedding more than 10%. This follows Friday’s 24% decline on the heels of the company missing first-quarter earnings and cutting billings growth guidance. The stock also got another downgrade from Wall Street, with Wolfe Research moving the stock to underperform from peer perform.
  • Amazon (Symbol: AMZN), Tesla (Symbol: TSLA) — Beaten-up tech shares took a hit during Monday’s intense sell-off. Amazon slid 5.5%, while Tesla was down about 7.1%. Netflix (Symbol: NFLX)  fell 7.2%, while Meta Platforms (Symbol: META) dropped 6.4%.

During Premarket hours today (Wednesday – 14.06.2022):

  • Continental Resources (Symbol: CLR) – The oil and natural gas producer’s stock rallied 13.18% in the premarket after receiving a $70 per share “take private” bid from Chairman Harold Hamm and his family. The company’s board will establish an independent committee to evaluate the proposal.
  • Oracle (Symbol: ORCL) – Oracle surged 13.11% in premarket trading after reporting better-than-expected profit and revenue for its latest quarter. Oracle is seeing strong demand for its cloud software as more businesses transition to a hybrid workplace.
  • National Vision (Symbol: EYE) – The optical products retailer’s stock soared 12.3% in the premarket following news that it will be added to the S&P SmallCap 600 index. The change will be effective prior to the opening of trading on Thursday.
  • Twitter (Symbol: TWTR) – Twitter shares rose 2.5% in premarket action following news that Elon Musk would attend an all-hands employee meeting on Thursday. Musk agreed in April to buy Twitter for $44 billion but has since threatened to back out of the deal.
  • Nokia (Symbol: NOK) – Nokia was upgraded to “buy” from “neutral” at Citi, which cites improving fundamentals for the networking hardware and software maker. Citi points to particular strength for Nokia in the mobile infrastructure market. The stock added 4.38% in premarket action.

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