Watch us on YouTube Live at 8:30AM EST
Boeing Co – Lower premarket after Chinese broadcaster CCTV reported a China Eastern Airlines Boeing 737-800 had crashed near the city of Wuzhou in Teng county. There was no immediate information available on numbers of dead and injured. The airline has grounded further flights involving the plane until an investigation occurs.
Tesla Inc – Looking to extend a four session rally from last week trading higher premarket, the rally comes on the back of not one but two seperate price increases announced last week on both US and Chinese made models. Jefferies out with a PT cut on the stock this morning.
Oil Stocks – Higher along with the price for crude, WTI up 4% in early trading as Brent crude climbs back above $111 a barrel, a report early Monday suggests the European Union nations are considering joining the United States in a Russian oil embargo, while a weekend attack on Saudi oil facilities is also raising supply concerns. CVX, OXY, XOM, MRO, DVN
Meta Platforms – Was among the strongest tech name to lead the rally Friday, Reuters is reporting that a Russian court rejected an attempt by Meta to have an extremism case against it dismissed, the RIA news agency reported. The TASS news agency had earlier reported that Meta had asked for more time to prepare its legal position and had also questioned the court’s authority to further restrict its activities at the request of state prosecutors.
Chinese Stocks – Mostly lower after an impressive rally to end last week. No significant news catalyst, a possible case of too far too fast. PDD among the most active in early trading, reported better than expected earnings and also said active monthly users on its site were up 2% YoY while active buyers jumped 10%. NIO shares on watch as a company executive said Monday raw material prices, chip supply and demand are causing large changes to supply chain costs, also said it has no immediate plans to raise prices. BABA, JD, BIDU, PDD, NIO, GOTU, DOYU
General Motors – Said Friday after the close it bought SoftBank Group Corp’s stake in the co’s self-driving car subsidiary, Cruise, for $2.1 bln. Also said it would invest an additional $1.35 billion in cruise, replacing funds that Softbank had pledged to provide.
Mullen Automotive – The micro cap EV maker remains on watch very active again premarket as social media interest continues to increase. The company received multiple positive coverages from online sites last week.
Kidpik Corp – Back on watch trading higher once again after tripling last week. Shares continue to gain on news of a tie-in with Walt Disney Co.’s “Cheaper by the Dozen.”
Vinco Ventures – Retail favorite back on the move this morning, the stock is 22% shorted and remains at the top of “most mentioned” lists on stock focused social media sites.