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Tesla Inc – Said on Monday it would ask shareholders to vote at its annual meeting to increase the number of additional shares in order to enable a stock split. If approved, would be the company’s latest after a five-for-one split in August 2020 to make owning the stock easier for its employees and investors. Tesla said its board had approved the management proposal, but the stock dividend will be contingent on final approval.
AMC Entertainment – Along with recent gold investment HYMC shares are on watch after CEO Adam Aron said the company would embark on more “transformational” deals to capitalize on interest of retail investors. AMC unveiled $27.9 mln investment for 22% stake in Hycroft Mining Holding earlier this month, an unusual deal for a company operating more than 900 theaters worldwide that raised eyebrows among market observers. AMC, HYMC
Coinbase Global – Along with other crypto related stocks are sharply higher premarket after a strong rally in BTC prices in the last 24 hrs. Bitcoin hit its highest level since Jan. 2 and is holding above $47000 this morning breaking out through the $45000 resistance level from last week. ETH is also rallying, lifting stocks with exposure to the market. HUT, MARA, RIOT, COIN, BTBT
Xpeng Inc – Reported quarterly vehicle deliveries that reached 41,751, a 222% increase year-over-year while quarterly total revenues reached RMB8,556.0 million, a 200.1% increase year-over-year. Quarterly gross margin reached 12.0%, an increase of 4.6 percentage points year-over-year. XPEV said full year deliveries were 98,155 vehicles, a 263% increase year-over-year. Full year total revenues reached RMB20,988.1 million.
Uber Technologies – Said on Saturday it has received permission to operate in London under a new 30-month license, ending a years-long battle with the city transport regulator over safety concerns. The stock is coming off two solid days to end last week after announcing all NYC taxis would be listed on its app.
Beyond Meat – Lower in early trading after Piper Sandler downgraded the stock to “neutral” from “underweight.” Piper points to increasing competition for plant-based meat substitutes, as well as lower positive expectations for the impact of a nationwide McDonald’s (MCD) launch.
Apple Inc – Lower premarket after reports the company will cut its Apple Iphone Airpods production output.
Kaixin Auto – Beijing Camping Club Sports and Culture Communication Co Ltd agrees to order at least 20,000 new energy vehicles from Kaixin over the next five years for a total value of ~6 bln yuan ($938 mln). Last week, KXIN signed a sales order for 5,000 new energy logistics vehicles with Beijing Bujia Technology Co Ltd worth a total of 1 billion yuan ($157.24 million).
Freeline Therapeutics – Climbing after healthcare group Syncona’s unit reports majority stake in the company.