Morning Movers
Watch us on YouTube Live at 8:30AM EST

Travel Stocks – The group under significant pressure in premarket trading on news of a new, possibly vaccine-resistant coronavirus variant being detected in South Africa that has prompted EU, Britain and India to announce stricter border controls. Airlines, Cruise Operators, Hotels and travel related website operators are all down between 6-10% in early trading. RCL, CCL, NCLH, AAL, UAL, DAL, SAVE, ALK, LUV, BKNG, EXPE, TRIP, WYNN, LVS, MAR, HLT

Energy Stocks – Crude oil trading down more than 6% on fresh covid related demand concerns has these stocks off between 4-6% across the board. XOM, CVX, COP, DVN, BP, OXY

DIDI.NY -4.69%
Didi Global – Beijing regulators have reportedly asked top executives of Didi to devise a plan to delist from the New York Stock Exchange due to concerns about data security, according to reports. The tech regulator cited worries about leakage of sensitive data as the reason for their stance. If the privatization proceeds, shareholders would likely be offered at least $14/shr IPO price, since a lower offer so soon after the June market debut could prompt lawsuits or shareholder resistance. Other China ADRs also took a hit as China’s market regulator proposed new rules on Friday that would increase online advertising oversight.

Vaccine Stocks – Shares of some COVID-19 vaccine and treatment makers are rallying premarket even as futures in broader markets tumble due to fears of a new coronavirus variant. Little is known of the variant, detected in South Africa, Botswana and Hong Kong, but several countries have imposed travel restrictions on Southern Africa over fears that it could be vaccine-resistant. MRNA, PFE, BNTX, NVAX

OCGN.NQ -14.08%
Ocugen Inc – FDA issues clinical hold on the Company’s Investigational New Drug application (IND) to evaluate the COVID-19 vaccine candidate candidate COVAXIN (BBV152)

PDD.NQ -18.51%
Pinduoduo Inc – The Chinese e-commerce platform shares are tumbling after the company missed Q3 revenue estimates on stiff competition from rivals Alibaba BABA.N and JD.O in its latest quarter. PDD post Q3 rev of 21.51 bln yuan ($3.37 bln) vs Refinitiv est of 26.59 bln yuan. Q3 Revenue was up 51% Up To 21.51 Bln Yuan – U.S.-listed shares of JD, BABA down 2.7% and 3.5% respectively, as easing COVID-19 restrictions hits sales of ecommerce websites.

Stay At Home Stocks – This group is offsetting some of the weakness with ZM, NFLX, PTON, ROKU, TDOC all trading higher between 4-6%

RIVN.NQ -4.44%
Rivian Automotive Inc – The recent, high flying addition to the EV space is back under pressure in early trading down more than 5%. Reports late Wednesday suggested the company has started notifying customers who have reserved the R1S SUV of delivery delays. According to EV website Electrek, Rivian has now started sending emails to customers to inform them that the delivery window has been changed to between May and July at the earliest.

ISPC.NQ 74.31%
iSpecimen Inc – Back on watch trading sharply higher premarket, the company announced on Monday it won a Government contract for covid-19 related research.

AHPI.NQ 66.17%
Allied Health Products – Nano cap healthcare equipment maker specializing in respiratory products is trading higher on fresh covid concerns. 2.9m share free float.

Leave a Reply

Your email address will not be published.