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Netflix – Extending gains from Friday’s session after Citigroup upgraded the stock to “Buy” from “Neutral” also cut its PT to $450 from $595. The stock is coming off back to back strong sessions to end last week after Bill Ackman’s Pershing Square revealed a large, post-earnings position.
EV Stocks – Higher as a group premarket coming off an impressive rally to end last week. Multiple upgrades in the group today with NIO and TSLA leading after positive notes on both from Credit Suisse. Nio announced Friday it had completed the repurchase right offer for Its 4.50% Convertible senior notes due 2024. The company is also looking at a possible Singapore secondary listing over HK. TSLA, NIO, LCID, RIVN, XPEV, NKLA
Robinhood Markets – GS and C with PT cuts this morning, Cathie Wood’s Ark Invest bought 2.4m shares of the retail trading app post-earnings on Friday.
Beyond Meat – Solidly higher premarket after Barclays reversed its prior bear look to a bull with a double upgrade to an Overweight rating from Underweight. The move comes even as competition in grocery stores heat up for Beyond Meat, the big lead it has with restaurant partnerships is seen a clear advantage.
Advanced Micro Devices – Along with other chipmakers trading higher premarket, the company is set to report earnings on Tuesday this week.
Spotify – Higher on light volume despite continued moves by artists to pull their music from the streaming platform over Joe Rogan’s podcast. Citigroup raises the stock to a “Buy”
Blackberry – The company said it has agreed to sell its legacy patents primarily related to mobile devices, messaging and wireless networking for $600 mln to Catapult IP Innovations Inc.
FGI Industries Ltd – IPO from last week with 2.5m float running premarket on no news.