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Tesla Inc – Down more than 1% in the premarket this morning following a report from Reuters suggesting Tesla will step up engagement with mainland China regulators and will also beef up its govt relations team. The company has been facing scrutiny in China over safety and customer service complaints, China is trying to regulate large and powerful private cos, especially in the tech sector, on concerns about their market dominance. Separately, German Automotive media are reporting Tesla’s German gigafactory will requite six more months of preparation before starting.
Crypto Stocks – Sharply higher as a group this morning following a weekend, record setting rally for ETH and early strength from BTC prices to start the new month as well. RIOT, MARA, MSTR, SOS, BTBT, SI are all up between 1-4.5% this morning.
Moderna Inc – Trading back near pandemic highs on news this morning the company will supply 34 mln doses of its COVID-19 vaccine this year to the global COVAX programme, a small boost as it struggles to get stocks to inoculate the world’s poorest people. The advance purchase contract agreed with Moderna is for up to 500 million doses, but the roll out will only start in the fourth quarter, with 34 million doses available this year. The bulk – 466 million – would only become available next year, it said. The agreement follows the U.S. drugmaker’s shot being approved for emergency use listing by the WHO on Friday, a prerequisite for COVAX eligibility. GAVI runs the COVAX vaccine sharing facility with the World Health Organization.
Brooklyn Immunotherapeutics Inc – Extending its recent impressive rally early Monday up another 40%, the clinical-stage company, which is focuses on cytokine-based therapies for treating patients with head and neck cancer. BTX had announced on April 29 that it exercised a previously announced option to buy a license for mRNA gene editing and cell therapies technology from Factor Bioscience Limited and Novellus Therapeutics Limited. Currently more than 47% of outstanding shares are short.
Chinese EV Makers – LI, XPEV and NIO all announced April delivery figures, Li Auto said deliveries were up 111% vs. a year ago, Nio’s gained 125%, and XPeng added the most with deliveries up 285% during the month.
Palantir Technologies Inc – Up slightly in early trading after the company announced the hiring of Dr William J. Kassler, MD, MPH, as its first US Government Chief Medical Officer, bringing years of clinical and public health expertise to Palantir as it continues its expansion in the private and public health sectors. Dr. Kassler joins the company from IBM Watson Health and worked throughout his career at the intersection of clinical care and population health. He will lead the Public Health and Life Sciences teams across Palantir’s USG and international business.
Airline Stocks – Higher as a group premarket on continued re-opening optimism, JP Morgan also upgraded and increased PTs on DAL, UAL, LUV and SAVE this morning.
DraftKings Inc – Multiple recent positive analysts moves on the stock including an upgrade this morning from Cowen and Company raising their view to “Outperform” from “Market Perform”. DKNG will report its latest results before the market opens Friday.
Ocugen Inc – Ocugen announces studies showing COVAXIN potentially effective against three key variants of SARS-CoV-2.
MicroVision Inc – Set to open little changed this morning after Friday’s selloff, the company reported disappointing quarterly results aftermarket Thursday. The stock has given back all of the WallStreetBets driven gains from April in the last three trading sessions of the month.
Regional Health Properties Inc – Trading higher premarket after Friday’s impressive rally that came on no significant news surrounding the company. The shares were halted multiple times until the company finally said “It is not aware of any undisclosed material change in its business.”