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Tesla – Shares are up 4% in premarket trading after CEO Elon Musk sold $528 worth and said he may not sell more despite being 20% short of his target to sell 10% of his holdings. While up 33% on the year the stock is on track for its first monthly decline in 7 months
Alibaba – Shares of the troubled Chinese tech firm are down 3.8% premarket after China suspends its contract with its cloud division. This is following accusations that it has failed to address cybersecurity vulnerability. Other Chinese based names trading lower include; JD, BIDU, PDD
Nvidia – On the back of Micron earnings and a strong recovery in the markets, shares of the chip maker rose from a morning low of $275 to regain November suport levels. As the popular vehicle for growth in the chip sector it remains in play today as the market looks to follow up on the moves. Microns report showed strength in all phases of the chip sector dispite supply chain concerns. MU AMAT AMD
Caterpillar – Higher this morning as Bernstien raises price target from $40 to $240 as the analyst sees them as being the biggest benificiary of Chinese monetary policy easing and emphasis on infrastructure growth. Shares are gaining for a 2nd straight day.
Blackberry – The former smart phone maker now cybersecurity firm reported a break even quarter despite analysts expecting a loss per share of $0.07. This was on the back of strong demand for cybersecurity products. Post market gains were given back after current forecasts for those products were shy of estimates. Up in yesterdays trade the name was mentioned frequently on stocktwits indicating some intrest. Short interest sits at approx 7.4% down from its August high of 11.8%.
Red Cat Holding – Shares trading up 30% after its unit was awarded U.S. Customs and Border Protection contract. Red Cat has a 32 million float.
Biondvax Pharmaceuticals – Trading up over 50% in premarket action on high relative volume after it sings a Definitive agreement for Development and commercialization of Innovative Nanosized Covid-19 Antibody Theropy. Initial clinical trials are expected in 2023.