Watch us on YouTube Live at 8:30AM EST
Virgin Galactic – Shares of the space tourism company are rally this morning after it successfully completed it first fully crewed test flight into space with its Virgin Galactic rocket plane, with founder Richard Branson on board. SPCE is poised to begin commercial operations next year; also plans at least two more test flights in the coming months, the company is said to have as many as 600 reservation already booked.
DiDi Global – Confirmed China’s cyberspace administration had notified app stores to remove the ride hailing company’s 25 apps and said the move could impact its revenue in the region. Cyberspace Administration of China (CAC) said last week it will remove the mobile apps operated by Didi from app stores as the government stepped up a crackdown on the company. Didi said in a statement “The CAC notified app stores to take down these apps and cease to provide viewing and downloading service in China, and required the Company to strictly comply with relevant laws and regulations… and rectify the problem to ensure the security of users’ personal information.”
Nio Inc – Trading higher premarket after announcing some executive changes to its board, NIO appointed Yu Long as a new independent director to its board, also said Long will also serve as a member and chairperson of the nominating and corporate governance committee of the board. The company’s founder and CEO, William Bin Li, will resign from the nominating and corporate governance committee of the Board.
AMC Entertainment – Shares of the retail favorite and movie theatre chain operator are back on watch this morning trading sharply lower premarket despite another pandemic high weekend at the box office. The debut of Walt Disney Co’s Black Widow, has continued to add hopes of a post-pandemic rebound for cinema chains. The movie grossed around US$80mln in the US and Canada in its opening weekend, according to preliminary estimates, outperforming the previous pandemic-era box office high-point of around US$70mln set by the ninth instalment of the Fast & Furious franchise two weeks ago.
Meme Stocks – Other early movers of note in the retail group are TPST, extending huge gains from Friday’s session with no additional news catalyst, as well as SGOC, CARV, XELA, BLIN and MRIN.
Tencent Music Entertainment – Shares are lower in the premarket on reports China may ask the company to give up exclusive rights on certain labels. Reuters is reporting China’s antitrust regulator is set to order TME, the music streaming arm of Tencent Holdings Ltd would be required to give up exclusive rights to music labels which it has used to compete with smaller rivals.
Celldex Therapeutics – Shares are trading higher premarket after the company reported positive skin disease treatment data from a recent trial.
Antelope Enterprise Holdings – Micro-cap Chinese construction supply company rallying for the second straight session with little or no news catalyst, 3.5m share free float.
Mer Telemanagement Solutions – Extending Friday’s rally, another micro-cap low floater to watch.