Morning Movers
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PDD.NQ -5.13%
Pinduoduo Inc – Reversed early advances to trade lower following earnings this morning, the company reported revenue for its latest quarter that more than doubled but still posted a small, diluted net loss per ADS. PDD also announced its CEO Chen Lei has been appointed chairman of the company after founder Colin Huang stepped down from its board to explore future growth.

PLUG.NQ -18.67%
Plug Power Inc – Shares fell more than 10 in extended trading yesterday and are set to open down more than 20% this morning after the company said it will have to restate financial statements for fiscal years 2018 and 2019 as well as some recent quarterly filings. Plug Power said it spotted errors in accounting mostly related to non-cash items, including how it classified some costs, which resulted in fewer research-and-development expenses and a corresponding increase in cost of revenue

CRWD.NQ 2.90%
CrowdStrike Holdings Inc – The company issued an update on its FY22 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.27-$0.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.33. The company issued revenue guidance of $1.31-$1.32 billion, compared to the consensus revenue estimate of $1.22 billion. The company reported aftermarket yesterday posting EPS of 13 cents on revenue of $264.9 million easily topping estimates.

FTCV.NQ -7.85%
Fintech Acquisition Corp V – Back on watch this morning after an impressive move on Tuesday, the blank check company announced it will take online cryptocurrency and stock brokerage platform Etoro public via a merger deal valued at $10.4 billion deal. The stock rallied as much as 20% following the news and traded 56m shares on the day.

MU.NQ -1.52%
Micron Technology Inc – Semiconductors were the relative outperformers yesterday, MU said this morning it will increase investment in new memory products that leverage the compute express link, an industry-supported Cache-Coherent Interconnect for processors. Citigroup raised its PT on the stock from $116 to $130.

UBER.NY -2.11%
Uber Technologies Inc – Shares are under pressure this morning on news the company may face paying drivers in Britain minimum wage for the full duration they are logged into the ride sharing company’s app, pressure from UK lawmakers continues to mount after a UK Supreme Court upheld a ruling last month that they should be classified as workers and not independent contractors.

SPCE.NY -4.03%
Virgin Galactic Holdings Inc – Extending declines from yesterday’s session down more than 3% premarket despite multiple, positive analyst notes and rating changes on the stock. Truist Securities is the latest to launch coverage on SPCE starting with a Buy rating as the firm is confident on upside, saying “We believe that as one of the first market entrants, with proprietary technology, vertically integrated operations, and plans for a consumer-oriented experience leveraging the Virgin brand, SPCE is uniquely positioned to capture share in the emerging commercial space tourism industry.”

HUGE.NQ 54.59%
FSD Pharma Inc – The Canadian based pharma whose primary focus is medical cannabis announced today it has entered into a license agreement with Innovet Italia S.R.L. to develop FDA approved veterinary drugs for the treatment of gastrointestinal disease in dogs and cats.

ZCMD.NQ 41.21%
Zhongchao Inc – Online, healthcare focused education company renewed its contract with China’s Association of Health Promotion and Education along with GlaxoSmithKline.

TNXP.NQ 7.87%
Tonix Pharmaceuticals – Released early results from a non-human study showing its COVID-19 vaccine candidate, TNX-1800, protected both upper and lower airways against coronavirus.

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