Morning Movers
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TWTR.NY -3.48%
Twitter – Shares were down as much as 8% overnight before recovering as Elon Musk has opted not to join the board of the social media company. After revealing a 9.2% stack recently Musk had made an agreement to join the board seat with certain conditions. Musk also tweeted several ideas for improvements including allowing Twitter blue users to pay using dogecoin and no advertising for them.

TSLA.NQ -4.61%
Tesla – Shares of the EV maker are down over 3% premarket as chinese auto sales plunged in March by 11.7% vs a year ago to 2.23million vehicles amid the countries efforts to reign in Covid-19. This was the first decline in 3 months. Shares of other chinese EV makers are down sharply as well. LI, XPEV, NIO

BIG.TECH -1.25%
Big Tech – Shares of Apple, Microsoft and Alphabet are down 1.3, 1.3 and 0.7% respectively as bond yields hit 3 year highs. AAPL, MSFT, GOOGL

NIO.NY -9.75%
Nio – The electric car company announced Sunday it would raise the prices for its three SUVs; the ES8, ES6 and EC6n by 10,000 yuan ($1,572), effective May 10. In addition to this, Nio has also had production halts due to covid lockdowns

SHOP.NY 2.29%
Shopify – Shares of the e commerce giant are up in premarket trading after the company announced a 10 for 1 stock split of its class A and B shares.

NVDA.NQ -4.23%
Nvidia – Baird downgrades the chipmaker to Neutral from “outperform” and lowers the price target to $225 from $360. This as they warn of chip order cancellations. Nvidia has also annou nced it would seek shareholder approval to double the nu mber of authorized shares. This could allow them to take action like stock splits or equity incentive without needing futher shareholder votes.

VERU.NQ 22.76%
Veru Inc. – Shares are higher by 25% after getting positive data from their Covid-19 trial. Their candidtate reduced death by 55% in hospitalized patients. VERU has a 60 million share float.

IVDA.NQ 43.58%
Iveda – The low float small cap company unveils its Utilis Smart Pole Technology, Utilis brings together all of Iveda’s smart city technologies including video surveillance, AI-based video analystics and its smart power system. IVDA has under 12 million shares outstanding.

BCYC.NQ -28.71%
Bicycle Therapeudics – Trading down 28% in the premarket after the drug developer is set to open at its lowest price in more than 7 months. BCYC reports interm data from an early stage study of its drug candidate BT8009 which targets a protein involved in tumor development. Investors had been hoping for a more comprehensive update.

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