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Crypto Stocks – Back on watch trading higher as a group this morning with the asset class market cap back above $2T for the first time in 3 months. Bitcoin topped $48,000 over the weekend, its highest level since mid-May but pared some of those gains on Monday. Bitcoin’s rise helped push the value of the entire cryptocurrency market above $2 trillion on Saturday for the first time since mid-May. The bitcoin recovery comes after it sold off heavily in June and July, even dropping below $30,000 after hitting a record high of over $64,000 in April. MARA, RIOT, BTBT, SOS, NCTY, ANY, SI, MSTR, COIN
Paysafe Ltd. – Posted better than expected Q2 results this morning with total payment volume of $32.3 billion, up 41%. The company topped revenue estimates as well with $384.3 million an increase of 13% Net income attributable to the Company of $6.6 million, compared to net loss of $15.9 million. PSFE also reaffirmed its 2021 full year outlook. The company also announced it was acquiring Safetypay for $441M.
Tesla Inc – The U.S. National Highway Traffic Safety Administration has opened a probe looking into Tesla autopilot, citing accidents ranging from 2014-2021 models y, x, s, and 3.
NIO Inc – Down sharply premarket for the 3rd straight morning after reporting results late last week, the stock tumbled 3% to end the week Friday near its lows following a lackluster earnings report from China’s largest EV maker Thursday. The stock is also under pressure on reports a prominent entrepreneur died in a crash involving a NIO ES8 that was operating on NOP(Navigate on Pilot).
Palantir Technologies – Trading slightly higher premarket, the company announced it will team up with BlackSky to aid Government Agencies in Predicting Events Pilot Program, delivering real-time actionable intelligence for Defense and Intelligence Customers.
Sonos Inc – Solidly higher in early trading after both Jefferies and Morgan Stanley analysts upgrade the stock and increase their PT, both making comments toward the argument of supporting the company and its strong fundamental position and its Q4 is setting up for another beat. Friday, a U.S. trade judge ruled favorably for SONO in a patent infringement lawsuit with Alphabet’s GOOGL.O Google.
ContextLogic Inc – Shares are set to extend a 2 session slide from last week following dismal Q2 earnings from the online retailer. Wish parent company plunged 29% after missing quarterly sales forecasts and getting a double-downgrade from JPMorgan on Friday.
ADMA Biologics – Received FDA approval for its ADMA Biocenters Plasma Collection Facility. The company said the “Maryville, Tennessee based plasma collection facility commenced operations and initiated source plasma collection in the fourth quarter of 2020. With today’s approval, this facility is now FDA-licensed to collect and introduce into interstate commerce human source plasma for further manufacturing in the U.S.”
Enlivex Therapeutics – The Israel-based drug developer is trading higher after saying Sunday Israel’s health ministry had allowed the company to begin a mid-stage clinical trial testing the co’s experimental therapy, Allocetra, in severe and critical COVID-19 patients with acute respiratory distress syndrome.