Morning Movers
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AMZN.NQ 1.68%
Amazon Inc – Trades post 20-for-1 stock split for the first time this morning, each shareholder of record as of May 27, 2022 received 19 additional shares for each share they owned. News of the split had AMZN among the top most watched stocks on retail trading forum Stocktwits with share splits recently garnering plenty of attention as a lower price will increase the amount of potential traders in the name, the stock has have fallen ~28% YTD. Multiple analyst PT changes this morning to reflect the split.

TSLA.NQ 2.62%
Tesla Inc – Up more than 3% this morning as Elon Musk said on Saturday that TSLA’s total headcount will increase over the next 12 months, but number of salaried staff should be little changed. The apparent backtrack comes after Musk told TSLA executives in an email Friday that he had “super bad feeling” about U.S. economy and needed to cut jobs by about 10%. Shares of electric vehicle maker fell 9.2% on Friday on the news.

DIDI.NY 58.92%
DIDI Global – Sharply higher on reports Chinese regulators are concluding probes into the ride-hailing giant and two other firms, the WSJ is reporting that regulators are also preparing to allow apps of the companies back on domestic app stores as early as this week. The report, citing sources, signals that China’s promise to ease the crackdown on its internet sector and tech giants is gaining traction.

MULN.NQ 12.60%
Mullen automotive – Higher on news the stock will be added to both the Russell 2000 and 3000 indexes.

Chinese EV Stocks – Gaining on the positive regulatory moves surrounding tech stocks by Shanghai but also as Li Auto reports better than expected May deliveries and also forecast continued gains for June as supply chains and output begin to recover from the disruption of COVID-19 lockdowns in Shanghai and other cities. Li Auto reported May sales gain of 166% to 11,496 vehicles from a year earlier. Last week Xpeng Inc posted gains of 78% with 10,125 deliveries. NIO Inc said it delivered 7,024 EVs, up 5% from a year earlier. NIO, XPEV, LI

SBUX.NQ 1.87%
Starbucks Corp – Higher on light volume premarket on news Howard Schultz will remain as interim CEO through calendar Q1 2023 to ensure smooth transition. Starbucks said it continues “driving toward an announcement this fall, official handoff will take place in first calendar quarter of 2023.”

AAPL.NQ 1.31%
Apple Inc – On watch this week as the company’s WWDC is set to kick off today, rumored changes to its Ipad and Macbook Pro top anticipated announcements to come from the event.

Solar Stocks – Higher as a group on a Reuters report saying the White House would declare a 24-month exemption from solar panel tariffs as well as other moves to spur U.S. solar panel production. Shares in highly shorted (17%) RUN Sunrun Inc are among the most active with FSLR, SEDG, JKS, ENPH and CSIQ also among gainers.

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