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DiDi Global – Gapping higher this morning, Bloomberg is reporting the Chinese ride-hailing company is weighing giving up data control to appease Beijing. Last week, Didi denied a media report that it was considering going private to placate Chinese authorities and compensate investor losses since it listed in the United States
Virgin Galactic – Announced it has begun selling tickets for space flights again, just weeks after founder Richard Branson rode a rocket-powered plane to more than 50 miles above the Earth. The ticket window is open again for space flights at Virgin Galactic with prices starting at $450,000 a seat. announced the offerings as it reported Thursday that it lost $94 million in the second quarter on soaring costs for overhead and sales. The company posted revenue of $571,000, barely enough to cover one seat on a future flight.
Draftkings Inc – Reported Q2 Non-GAAP EPS of -$0.26; GAAP EPS of -$0.76 missing estimates by $0.18. Revenue came in at $298M (+320.1% Y/Y) beating by $50.78M. DKNG said monthly unique payers for B2C segment increased 281% compared to the second quarter of 2020 and average Revenue per MUP was $80 in the second quarter of 2021 representing a 26% increase versus the same period in 2020. The company raised its FY2021 revenue guidance.
Robinhood Markets Inc – Back on watch this morning coming off yesterday’s steep decline that saw the stock tumble 27.6% a day after the shares jumped more than 50%. The company went public on July 29 at $38, with its shares initially falling below the public offering price before galloping higher. In a regulatory filing submitted Thursday the company registered for the sale of up to 97.9 million of shares by early shareholders and noted that the company will not receive any of the proceeds.
Plug Power Inc – Reported an 83% Y/Y increase in Q2 revenues to $124.6M and a 75% gain in gross billings to $126.3M. President and CEO Andrew Marsh said the company is raising guidance for full-year gross bookings to $500M. The company says it shipped 3,666 GenDrive units during Q2 and had revenue associated with 16 hydrogen infrastructure systems vs. 2,683 GenDrive units and four hydrogen infrastructure systems in the year-ago quarter. PLUG also said it estimates the electrolyzer business will grow by more than 400% in 2021 vs. 2020 and should continue to grow at “robust levels” through 2024.
Beyond Meat Inc – Said on Thursday that restaurants are placing “more conservative” orders for its plant-based burgers due to uncertainty over to the Delta variant of the coronavirus, as a result the company said it expects third-quarter net revenue of $120 million to $140 million, substantially lower than analysts’ estimates of $153.3 million. Beyond Meat also reported a bigger-than-expected loss, with earnings per share of negative $0.31 versus estimates of minus $0.24.
Moderna Inc – Lower premarket for the first time in 6 sessions, multiple analyst moves on the stock both directions this morning. Notably JP Morgan raised its PT for the second time in a week, while Piper Sandler analysts downgraded the stock to “Neutral” from “Overweight” calling it too expensive and also lowered their PT.
Kaixin Auto Holdings – Announced that the Company has decided to establish a new energy vehicle (EV) business unit, which will quickly build up EV R&D, production and marketing teams. The corporate strategic move has been made in the context of the Chinese government’s steady support for accelerated development of EVs and the rapid growth of EV market in China.
Sphere 3D Corp – Announced after the close yesterday it has entered an agreement to acquire exclusive rights for assignment of – Cryptocurrency Mining Assets Agreement including the rights to secure up to 220,000 miners on pre-negotiated terms and a lease for a 200,000 square foot carbon neutral facility for Bitcoin Mining
Canopy Growth Corp – The Canadian pot producer reported a smaller adjusted core loss in its fiscal first quarter on Friday, as it benefited from cost cuts and a rise in cannabis use during the coronavirus pandemic. The company posted an adjusted core loss of C$63.6 million ($50.85 million) for the three months ended June 30, compared with a C$94 million loss in the fourth quarter. Canopy, which has told investors it would turn profitable in the current fiscal year, said its adjusted gross margin improved by 1,400 basis points from a year earlier to 21%.