Watch us on YouTube Live at 8:30AM EST
NIO – Shares of the Chinese electric carmaker are up over 2% premarket after reporting delivering of 21,896 vehicles in Q2, up by 111.9% from last year. Monthly deliveries were 8,083 vehicles in June, 116.1% higher than last year topping 8000 for the first time. As of June 30, cumulative deliveries of co’s ES8, ES6 and EC6 models reached 117,597 vehicles. Nio shares have rallied all week into these numbers.
Xpeng – Chinese EV maker is trading up over 3%. XPEV says it delivered 17,398 vehicles in Q2, an over five-fold increase YOY. For the month of june they delivered 6,565 a more than seven-fold jump from a year ago. They also have plans to launch the G3i sports utility vehicle next month, with deliveries planned for September this year. XPEV has traded up 5% on the year.
Micron – Shares are trading lower despite reporting for fiscal third quarter, net income of $1.74 billion, or $1.52 a share, compared with $803 million, or 71 cents a share, in the year-ago period. Adjusted earnings were $1.88 a share ahead of expectations of $1.72. While revenue also beat the expectations of $7.23 billion. Micron also guided higher with Q4 2.20-2.40 though DRAM growth was seen as a slight disappointment.
Krispy Kreme – Set to make its debut on the NASDAQ today under symbol DNUT after being private for 5 years. They priced its initial public offering (IPO) well below the planned range to raise $500 million. The company priced 29.4 million shares at $17 each, below the $21 to $24 per share range it had set earlier. The IPO values the company at $2.7 billion. The popular donut establishment as seen solid revenue growth but declining bottom line since being taken private. Shares will begin trading later this session.
Didi – Shares of the Chinese ride hailing company are up over 7% after mixed result on the first day of trade. DIDI managed to close above its $14 issue price however had falling form an open of $16.65. Some of that pressure due to uncertainty over regulatory scrutiny of Chinese tech companies. Currently active in the premarket DIDI is trading solidly in positive territory
Walgreens Boots Alliance – shares are trading almost 3% higher premarket after reporting net income of $1.2 billion, or $1.38 per share, for the quarter ended May 31, compared with a net loss of $1.71 billion, or $1.95 per share, a year earlier. The company had been relying on gains from administering COVID-19 vaccines to tide over losses from low prescription volumes and a weak flu season. Same-store sales at its U.S. pharmacies rose 6.4% in the third quarter as the reopening of the economy has helped a rebound in prescription sales.
Marin Software – Shares of “meme stock” MRIN are up 12% after yesterday’s selloff. Still holding gains after a strong run up starting last week MRIN is among the premarket volume leaders. Shares of other meme names AMC and BBBY are trading flat premarket after active sessions yesterday. BBBY in particular had an explosive run at the open and is looking to hold its gains.
Pop Culture Group – China-based hip-pop culture company, made its public debut on Nasdaq yesterday under the ticker symbol CPOP. After an explosive debut that resulted in several upward volatility halts it is trading up again 48% premarket. Headquartered in Xiamen, the company hosts entertainment events, operates hip-hop related online programs, and provides event planning and execution services, as well as marketing services to corporate clients. The company has 18 million shares outstanding only.
Alterity Therapeutics Ltd – Trading up over 67% on U.S. patent targeting neurodegenerative diseases. The US ADR has a 34 million free float and has traded in excess of 5 million shares premarket.
Birks Group – Birks Groups shares are up 37% premarket after the company reopens all of its Canadian stores for in person shopping. BGI has a free float of 4.09million shares despite trading over 2 million in volume early in the premarket.
CureVac NV – Shares are set to open sharply lower after the company reported only a 48% efficacy rate in final trial readout results for its covid-19 vaccine.