Morning Movers
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NIO.NY -5.01%
NIO Inc – The Chinese EV maker cut its delivery forecast for the third quarter this year due to uncertain and volatile semiconductor supplies. Nio said it expects to deliver around 22,500 to 23,500 vehicles from a previous 23,000-25,000 vehicles. It delivered 5,880 electric sports-utility vehicles last month, up 48% from a year earlier. Meanwhile competitor, Li Auto said it sold 9,433 vehicles last month, up 248% from a year earlier and Xpeng Inc shipped 7,214 cars in August, up 172% year-on-year.

ZM.NQ 0.88%
Zoom Video Communications – Already reversing early gains despite Cathie Wood’s Ark Invest revealing aftermarket yesterday it picked up an additional 200000 shares of the company’s stock following the earnings miss Monday.

HOOD.NQ -1.04%
Robinhood Markets Inc – Said on Wednesday the U.S. Securities and Exchange Commission was reviewing a filing of share sale by a group of its shareholders. Shares of the newly public company had taken a hit in early August after it said early investors may sell nearly 98 million shares, noting that the company will not receive any of the proceeds. Robinhood said it submitted an amended resale filing on Wednesday, adding that no sales can be made off the filing until the SEC staff completes their review and declares it effective.

LCID.NQ -14.88%
Lucid Group Inc – Under pressure in early trading on the PIPE lockup expiration date for early investors. The largest PIPE investor in Lucid is Saudi Arabia’s sovereign wealth fund, which is not anticipated to be big seller of shares. Other PIPE investors include BlackRock, Fidelity Management and Research, Franklin Templeton and Neuberger Berman.

WFC.NY 0.74%
Wells Fargo – Shares are little changed premarket after suffering their biggest one-day drop in over two months on Tuesday. Bloomberg News reported regulators have warned of new sanctions due to unhappiness over the pace the bank is paying out to victims of its long-running sales scandal.

Squeeze Stocks – New data from S3 Partners out after the close yesterday showed both SPRT and BBIG shares continue to have the largest SI% with 20.04 and 60.26 percent respectively. The report went on to point out an unusual characteristic that the two new meme stocks have in common is that the total shares shorted in each stock is relatively small in contrast to recent average trading volumes. If a short squeeze does occur, the effect of the buy-to-covers may have a minimal effect on their stock price. SPRT, BBIG

AMC.NY 0.93%
AMC Entertainment – Back on watch after yesterday’s impressive rally, the same S3 report showed roughly 17% of AMC’s float remains short, while fellow original meme stock GME is down to just 11%. Macquarie and Riley analysts both out with new downgrades on the stock pointing to disappointing movie ticket sales with a possible 80% downside risk.

RUN.NQ 6.78%
Sunrun Inc – JPMorgan adds Sunrun to its top ideas list, says solar stock can soar 90%.

GBS.NQ 51.54%
GBS Inc – Micro cap biotech firm, focused on new tech surrounding saliva based covid testing. Company has a 1m share free float.

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