Morning Movers
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Squeeze Stocks – Lower volume in early trading this morning but still active as a group, the LA Times is reporting that AMC Entertainment is close to locking up key Los Angeles-area Pacific Theatres locations, ArcLight Cinemas, including its flagship Hollywood theater and the historic Cinerama Dome are said to be a part of the potential acquisition. Corsair Gaming meanwhile is lower to start off more than 1% after seeing another day of higher relative volume Tuesday. WISH, BB, RCON along with yesterday’s latest addition TRCH are also among pre market volume leaders again. WISH, BB, RCON, AMC, CRSR

Chinese EV – XPEV, NIO and LI are all trading lower in the premarket after China’s EV Post reported that in first 10 days of June, China’s 11 key car companies produced 434,000 units, down 36.6% year-on-year. The number follows cautious May delivery numbers suggesting a slowdown could be coming due to the global chip shortage. Separately Chinese May retail data out overnight came in sharply lower than expected.

Travel Stocks – Back in focus again with more positive analyst mentions for the cruise operators this morning, Wolfe Research has put out upgrades on the CCL, NCLH and RCL rating them equally at “Outperform” with $32, $36 and $94 PTs. Separately, LUV, Southwest Airlines has canceled some 500 flights after a computer glitch first report late Tuesday grounds the company’s fleet for the second straight day. Spirit Airlines is higher premarket after a CitiGroup upgrade yesterday. RCL, CCL, NCLH, DAL, SAVE, UAL, AAL

DKNG.NQ 0.49%
DraftKings Inc – Holding key afternoon support in the premarket following the early sharp selloff we saw Tuesday, Hindenburg Research dropped a bombshell this morning, disclosing a short position on DKNG. In their article, the notorious short seller demonstrated extensive research that DraftKings “systematically skirted the law and had taken elaborate steps to obfuscate its black market operations.”

RBLX.NY -8.19%
Roblox Corp – Sharply lower premarket after reporting a decline in its key DAUS number for May vs April along with spending figures that also declined. The company said May bookings per DAU are estimated between $5.02-$5.09 down 2%-3% YoY.

ORCL.NY -5.13%
Oracle Corp – Sharply lower in premarket trading after forecasting current-quarter profits below Wall Street estimates, as the business software maker ramps up investments in its cloud computing business. Oracle said it expects current-quarter revenue at its largest unit, cloud services and license support, to grow by 4%, which comes to about $7.2 billion, according to Reuters’ calculations. Analysts on average expect it to be $7.36 billion. The company posted adjusted profit of $1.54 per share on revenue of $11.23 billion in the fourth quarter ended May 31, compared with estimates of a profit of $1.31 and revenue of $11.04 billion.

GOEV.NQ -2.08%
Canoo Inc – Back on watch this morning after an impressive late session rally yesterday, the company debuted a new Air Purifying Climate Control with UV Technology and also saw increased attention and mention from online stock focused forums including WallStreetBets.

SPI.NQ 30.03%
SPI Energy Co – Small-cap clean energy company trading higher on news its subsidiary Phoenix Motorcars plans to launch a full range of EV charging solutions for the U.S. market.

CATB.NQ 16.67%
Catabis Pharmaceuticals – RA Capital Management LP has reported a 7.5% passive stake in Catabasis Pharmaceuticals.

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