Morning Movers
Watch us on YouTube Live at 8:30AM EST

SQUEEZE.STOCKS 0.84%
Squeeze Stocks – Back on watch this morning after last week’s fireworks, much lower volume premarket this morning as investors digest new data over the weekend suggesting AMC’s short interest may be coming back to earth slightly while Workhorse Group has seen a sharp rise in shorts recently. According to data from Ortex.com the estimated short interest in AMC shares slid to as low as 11% – a two and a half month low – before ending Friday down six percentage points from the prior week at 11.8%. WKHS shares meanwhile a relative newcomer to the Reddit-fueled retail investor rally saw the short interest in its shares jump 25 percentage points to 52% over the same period. Days-to-cover ratio on Workhorse was also higher by 8% to 3.4. AMC, WKHS, WISH, BB

NIO.NY 0.71%
Nio Inc – Chinese EV makers are rallying premarket for the second straight session, coming off an impressive rally Friday NIO shares gained nearly 8% at their highs after the company announced plans for a lower priced ($31300US) model to increase its Chinese market share. NIO, XPEV

CRYPTO.STOCKS 4.38%
Crypto Stocks – Shares of stocks tied to cryptocurrency markets are trading higher early on this morning after a 13% jump late Sunday and overnight for BTC prices, the rally followed another Elon Musk tweet suggesting Tesla may once again start accepting BTC as payment for its cars. The tweet said Tesla would accept Bitcoin payments again “once mining uses 50% renewable energy.” We’re seeing shares of Square up 2% premarket, Coinbase Global up more than 2%, RIOT, MARA, FTFT meanwhile are gaining between 4-8%. TSLA, SQ, COIN, RIOT, MARA, FTFT, SOS, SI

RIDE.NQ -13.06%
Lordstown Motors – Down sharply after the electric vehicle maker said Chief Executive Officer Steve Burns and Chief Financial Officer Julio Rodriguez have both resigned. Lordstown said the moves follow the release of results of special committee investigation of Hindenburg Research report earlier this year. Last week the company announced it re-filed FY2020 financials that raised “Going Concern” worries.

NVAX.NQ 8.98%
Novavax Inc – Shares are up more than 9% premarket in reaction to the announcement that the company’s NVX-CoV2373, its recombinant protein-based COVID-19 vaccine has met the primary endpoint in PREVENT-19 Phase 3 trial. Results showed the vaccine demonstrated overall efficacy of 90.4% (95% CI: 82.9, 94.6), achieving its primary endpoint. The vaccine showed 100% (95% CI: 80.8, 100) efficacy against variants not considered Variants of Concern or Variants of Interest.

OCGN.NQ -3.63%
Ocugen Inc – Extending Friday’s slide in early trading, the stock closed lower for the second straight session to end the week after the FDA rejected the company’s EUA for Covaxin, ‘suggesting’ Biologics Licence Application route for approval in US instead.

CRSR.NQ 14.65%
Corsair Gaming – On watch as another possible recent addition to the online, retail focused rally, shares of gaming gear seller are up sharply premarket as the stock is the most discussed ticker on trading-focused social media site Stocktwits, where message volume related to it spiked ~27%, with ~94.6% of messages reflecting positive sentiment.

MDIA.NQ 65.36%
Mediaco Holdings – Micro-cap broadcasting company with a 2m share free float up sharply after announcing multiple executive changes as part of its recent strategic realignment plan.

ORPH.NQ 23.26%
Orphazyme – Active again premarket coming off a wild ride last week that saw it gain more than 1300% Thursday after being mentioned as part of the WallStreetBets group of squeeze stocks. Orphazyme lost half its value then Friday coming back to earth, the company said it was not aware of any changes in operations that would explain the recent volatility.

ETTX.NQ 23.13%
Entasis Therapeutics – Trading sharply higher premarket after an SEC filing dated June 11, co revealed its biggest shareholder Innoviva Inc acquired an additional ~6.27 mln shares in the firm at an avg price of $2/shr, for total amount of ~$12.54 mln.

Leave a Reply

Your email address will not be published.