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Tesla Inc – Back on the move premarket up another 3% and approaching $1150. The EV maker’s shares crossed the $1,000-mark on Oct. 25 after deal with rental car company Hertz, also crossed $1 trillion in market cap the same day. The company is set for the fourth straight session of gains and to maintain its $1 trillion-plus market cap. TSLA shares have risen 13 times in the past 15 sessions, gaining 40% in that period.
Novavax Inc – The company and its partner Serum Institute of India received first emergency use authorization for its COVID-19 vaccine candidate- NVX-CoV2373, from Indonesia. NVAX at the same time announced its has completed submission to Health Canada and European Medicines Agency for the conditional authorization of NVX-CoV2373.
NIO Inc – Shares of the Chinese EV maker are lower premarket after it reported an Oct delivery decline. Nio said it delivered 3,667 vehicles globally in Oct, a 27.5% yr/yr decrease, citing restructuring, upgrades of manufacturing lines and preparation of new products introduction. Despite production and supply chain challenges, co says, new order reached another all-time high last month driven by increasing user demand. Cumulative deliveries of electric SUV models ES8, ES6 and EC6 reached 145,703 as of Oct 31. Nio also says to report Q3 results on Tues, Nov 9.
Xpeng Inc – More than doubled competitor NIO Inc S October delivery number with 10138 of its own reported. The number was still slightly lower than September’s figure but up 233% from last year. It was the second-straight month that Xpeng had delivered over 10,000 cars, sending its Hong Kong-listed shares higher on Monday.
Spotify Inc – Looking to extend its post-earnings rally up another 2% on light volume in early trading. Morgan Stanley has named the stock its Top Pick.
Lucid Group Inc – Back on watch after last week’s impressive rally that saw the stock gain nearly 40% after the company announced and completed its first delivery on October 30. Many analysts have been quick to point out its $44b market cap is extremely overvalued considering it only started delivering cars last weekend.
Digital World Acquisitions Corp – Lower for the third striaight morning along with fellow Trump Media linked recent runner Phunware Inc. Both stocks were active late in the session Friday as former President Trump made an appearance on a radio talk show to further promote his move into social media with Truth Media. PHUN
AMC Entertainment – Trading higher premarket after the movie theater operator said admission rev in the month of October was the highest since Feb 2020.
ABVC Biopharma – Nano cap, former SPAC biotech company running in the premarket on what would appear to be increased attention on trading focused social media platforms. $62m market cap, 1.8m share free float.
Better Therapeutics – Another former SPAC, biotech sharply higher on its first day de-SPAC trading.
Orphazyme A/S – Provided a positive regulatory update following type A meeting with the FDA on its arimoclomol in Niemann-Pick Disease Type C.