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Square Inc – Looking to extend yesterday’s solid rally that followed a Bloomberg report suggesting the company is planning both checking and savings account offerings.
Lordstown Motors – Dismal Q1 results aftermarket yesterday that saw the company slash its production guidance for the year and said it will need to raise additional capital. Lordstown said it expects to produce only about half the number of vehicles it previously forecast for this year, while increasing its planned expenses to between $335 million and $350 million.
Virgin Galactic – Back on watch this morning after yesterday’s late session bounce back, fresh data from S3 Partners released mid-afternoon suggested the stock could be the next to rally around a high short interest. At 27.5% or $949 mln worth the stock has seen a sharp short increase in recent weeks with $371 mln worth of new short selling in the aerospace & defense sector recently with sellers increasing their exposure in a slightly downward trending group.
Crypto Stocks – BTC prices continue to stabilize for the time being, holding $37000 support this morning. This group saw impressive buying throughout the session yesterday as crypto prices rallied back from another test of recent lows. Elon Musk was at it again, tweeting late in the afternoon he had met with “major North American miners” to discuss its environmental impacts and the possibility of a North American miners alliance. The meeting was hosted by Microstrategy Inc. MSTR, MARA, RIOT, SOS, BTBT, FTFT, SI
Coinbase Global Inc – Failed to benefit as most others did from yesterday’s bounce back in crypto prices, trading higher premarket after multiple analyst initiations including JP Morgan who started coverage on the stock with an “Overweight” rating and a $371 PT.
Nvidia Corp – Trading higher premarket for the second straight session, semis were among the leaders in the tech group Monday. The company is set to report quarterly earnings after the bell tomorrow, Monday’s rally also followed news late last week of an upcoming four-for-one stock split. NVDA will start trading split adjusted on July 20.
Re-opening Stocks – Led by hotel, casino and gambling names these stocks rallied along with the Nasdaq Monday. MGM Resorts rallied more than 6% on news Amazon is said to be close to a $9b deal to acquire MGM Studios. Cruise Operators also gained CCL extended its recent rally that followed further details Friday on its US reopening plans for this summer. MGM, LVS, WYNN, PENN, DKNG, RCL, NCLH, CCL
KE Holdings Inc – China’s market regulator has begun an investigation into suspected anti-competitive practices by KE Holdings BEKE.N, the country’s biggest housing broker whose top backer is Tencent Holdings. KE Holdings, which operates housing platforms Lianjia and Beike in China, was warned last month by the State Administration for Market Regulation (SAMR), along with dozens of internet companies, against any abuse of market dominance and told to conduct self-inspections.
Anpac Bio-Medical – Said its board on May 17 approved establishing a joint venture with founder and chairman Chris Chang Yu to develop a new cancer treatment technology.
US Well Services Inc – Micro-cap oil and nat gas services company announced plans to become an all-electric hydraulic fracturing services company.
New Oriental Education & Tech – Along with other Chinese based, online education company’s trading higher in the premarket on volume. The group is bouncing back after last week’s selloff that was triggered by rumours of possible online tutoring regulations coming from the Chinese government. EDU, GOTU