Watch us on YouTube Live at 8:30AM EST
Crypto Stocks – Rallying sharply premarket along with BTC prices that shot up to a fresh 5 week high late Sunday on reports form London’s City A.M. newspaper citing an unnamed “insider” on the weekend as saying Amazon Inc AMZN.O is looking to accept bitcoin payments by year-end and is actively looking to hire a digital currency and blockchain lead. MARA, RIOT, SOS, SI, EBON, BTBT, MSTR, COIN, CAN
Tencent Music Entertainment – China’s top market regulator on Saturday ordered Tencent Holdings Ltd and its affiliated companies to relinquish exclusive rights to music labels. To restore market competition, Tencent and its affiliated companies must end their exclusive music copyrights within 30 days and stop charging high prepayment and other copyright fees, according to an online statement released by China’s State Administration for Market Regulation (SAMR). The company was also fined 500,000 yuan ($77,340), for unfair market practices according to the SAMR.
DIDI Holdings – Set for its third straight day of sharp declines as Chinese regulatory concerns continue to weigh of Chinese tech firms. The iShares China Large-Cap ETF is set to drop more than 4%, eyeing its steepest one-day percentage drop since March 2020 after Beijing’s latest regulatory crackdown on sectors ranging from internet to private tutoring.
Retail Focus Stocks – Long time favorites AMC Entertainment and GameStop Corp are both trading higher premarket, both stocks notched weekly gains after prolonged slumps last week. After four weeks of declines, AMC posted a weekly gain of 5.81%. However, the cinema operator closed down 0.7% Friday which was 20.5% below its $46.55 high for the week and ~49% below its $72.62 all-time high reached June 2. AMC, GME
Moderna Inc – Looking to extend its recent record run after being added to the S&P 500, trading up more than 2% premarket again this morning. We learned Friday the European Union had approved the company’s COVID-19 vaccine for children aged 12 to 17 years.
Chinese Education Co’s – U.S.-listed shares of Chinese private education firms TAL Education, Gaotu Techedu and New Oriental Education are down between 22% and 26% in premarket trading for the second straight session, stocks are set to extend losses after main listings in Hong Kong also saw sharp drops to start the week, new rules released on Friday bars for-profit tutoring in core school subjects and no new licenses will be granted. TAL, EDU, GOTU, YQ
Snap Inc – Back on watch looking to extend Friday’s record performance that followed a blow-out quarterly report from the company. Multiple, positive analyst moves on the stock this morning including an upgrade from Piper Sandler analysts who raised their PT on the stock to $85.
IMV Inc – Micro-cap Canadian biotech up sharply after increased online chatter Friday rallied the stock. The company is focused on developing cancer immunotherapies and vaccines against infectious diseases, including coronavirus (COVID-19).
XBIO.NQ – Announced $12.5 million private placement priced at a premium to the market. The stock more than doubled Friday on heavy trading volume reaching its highest level in two years after adding over 100% on above-average volume. The company is focused on developing cancer therapies using a personalized chimeric antigen receptor T cell (CAR T) platform technology. It has underperformed the broader market in the year so far as indicated in the graph.
Nanovibronix Inc – The stock more than tripled Friday in volatile and active afternoon trading after the company pointed to a positive report on its treatment of urinary tract infections.