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Didi Global Inc – Sharply lower this morning after Chinese regulators ordered the company’s app be taken down just days after its $4.4 billion listing on the New York Stock Exchange. The ride-hailing giant’s app was ordered to be removed from mobile app stores in China on Sunday by the Cyberspace Administration of China (CAC) which followed an official investigation into the company’s handling of customer data.
Squeeze Stocks – The group remains in focus after another volatile session Friday, software company Bridgeline Digital shares remain the main focus of retail investors after a 60% rally back on Friday, shares are up more than 30% again this morning. Digital marketing software provider Marin Software meanwhile was up another 21%, while e-commerce company ContextLogic shares are looking to snap a four session losing streak up 5% premarket. MRIN, BLIN, WISH, ALFI, AMC,WKHS, XELA, BSQR are all once again among the top trending stocks on trading-focused social media sites.
Virgin Galactic – Trading higher premarket after Friday’s selloff that followed a massive gap higher on news of official plans for the company’s first manned space flight, that was said to include founder Richard Branson on July 11th.
Chinese EV Stocks – Back on watch this morning coming off back-to-back sharp declines for the group despite solid June delivery numbers. The group is also coming under pressure on the DIDI news, Cyberspace Administration of China (CAC) said it is investigating DIDI, orders it to suspend new user registrations and to remove DIDI from Chinese app stores. The CAC also announced probes into truck hailing firm Full Truck Alliance YMM. Other U.S.-listed Chinese firms, including Alibaba Group BABA, Bilibili Inc BILI, NIO, XPEV, DOYU and BIDU are down between 1% to 3%.
Oil Stocks – Producers are trading higher as a group after oil prices rose to 6-year highs as talks between OPEC and oil-producing allies were postponed indefinitely. XOM, CVX, COP, MRO, OXY, DVN
Krispy Kreme Inc – Coming off the busiest week for IPOs since 2004 the headliner is set to open lower for the second straight session after falling more than 9% Friday, but the shares are still trading comfortably above the $17 IPO pricing level.
Tesla Inc – Already went red to green premarket, Canaccord upgrade this morning but note on Chinese demand still lagging competitors.
Iveric Bio – Received FDA agreement under special protocol assessment (SPA) for GATHER2 Phase 3 Clinical Trial of Zimura® in Geographic Atrophy Secondary study.
Axcella Health – Up sharply after the micro-cap biotech was initiated by Wainwright analysts at a “Buy” rating with a $14 PT.
Odonate Therapeutics Inc – Trading higher after Ikarian Capital revealed it had lifted its stake in the company.