Morning Movers
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TSLA.NQ 1.62%
Tesla – Trading up in the premarket after trading lower than 900 yesterday which was a retracement to its October levels on the Hertz announcement gains. EV names as a group were under pressure yesterday after the Build Back Better plan lost key support. The bill had called for strong incentives for electric vehicles and is unlikely to pass in the senate. RIVN, LCID, WKHS, NIO

MU.NQ 8.22%
Micron – Shares of the chip maker trading up over 6% after beating adjust earnings estimates with $2.16 per vs expectations of $2.10. Revenue was in line 7.69billion representing a 33.3% year over year increase. This on the back of strong data Center demand which lead to an upbeat forecast. Micron has lagged the indexes up only 9% on the year.

NKE.NY 3.74%
Nike – trading higher beating on top and bottom line estimates. EPS of $0.83 per share on $1.34 billion v $0.63 and a beat on revenue. Production issues caused a 20% decline in sales in China while US and European sales increase 12 and 6% respectively. inventory levels were up 7% vs prior year shaking off some supply chain concerns.

NVDA.NQ 2.82%
Nvida – The chipmaker is up 3% premarket after being named “top pick” at UBS. This comes after recently pulling back to November levels amidst some weakness in higher valuation names.

FSR.NY 1.99%
Fisker – Shares trading higher after expanding its deal with tire maker Bridgestone. They have signed and MOU to provide after-sales and related maintenance solutions in France and Germany. This expands on an deal for Bridgestone to be its exclusive partner in August.

NKLA.NQ 2.70%
Nikola – Shares of the Hydrogen EV maker are trading up 2.8% after agreeing to pay $125 million to the to settle with regards to SEC charges of defrauding investors. Nikola was one of 4 EFV startups that was under investigation including Lucid, Lordstown Motors and Canoo.

SOPA.NQ 15.81%
Society Pass – Shares are gapping up premarket for a 2nd straight day after an announcement it is being added to the Russell 2000.

ARDS.NQ 70.47%
Aridis Pharma – Shares up 80% at one point premarket after the companies antibody cocktail retains its effectiveness vs the Omicron variant. This stock has a 9.45 million share float.

RELI.NQ 88.52%
Reliance Global Group – Trading up over 80% premarket with just an 11million float. Had previously launched 5minInsure.com in 8 additional states a couple of weeks ago. No additional news catalyst seen this morning.

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