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Squeeze Stocks – AMC shares continue to lead this group up another 2% premarket on much lighter volume however, fellow advancers Koss Corp, Microvision and BlackBerry are little changed this morning. Shares of AMC have soared 83.42% in the last month, outperforming the Dow Jones Industrial Average index’s .DJI 0.7% gain in that period. BB, AMC, KOSS, MVIS, CLOV, SNDL.
Crypto Stocks – Lower as a group this morning along with the price for BTC down more than 7% and retesting recent support lows, concerns about a global crackdown on cryptos by regulators continue to grow. President Joe Biden plans to discuss the use of cryptocurrencies in ransomware shake-downs at the G7 summit this weekend. Meanwhile DOJ officials have said they have recovered “a majority” ($2.3m) of Colonial Pipeline’s $4.4 million ransom payment to the Darkside hacker group that shut down the pipeline for more than a week last month. MARA, RIOT, SI, MSTR, SOS, BTBT
Ford Motor Co – Shares are looking to extend recent gains after the company launched the new Maverick compact pickup truck will have a gasoline-electric hybrid powertrain as standard equipment, a technology choice aimed at keeping the vehicle’s starting price below $20,000. Ford expects the hybrid version of the 2022 Maverick to make up about 40% of demand when it goes on sale this fall.
Palantir Technologies – Announced a $7.4M contract renewal with CDC for disease monitoring and outbreak response.
Stitch Fix – Shares of the online personalized styling service provider are trading sharply higher better-than-expected Q3 revenue, the company posted Q3 revenue of $535.6 mln vs est of $510.6 mln. SFIX said it expects FY 2021 net revenue in range of $2.07 bln to $2.08 bln; analysts’ forecast was $2.04 bln. Active clients rose 20% y-o-y to 4.1 mln.
Nvidia Corp – According to the Financial Times has submitted an application to Chinese competition regulators to review a $40 billion takeover of UK chip designer Arm, the application was made in recent weeks and sets in motion a period of scrutiny that could take up to 18 months, according to Chinese antitrust lawyers. Nvidia said last month it expects to close the Arm acquisition by March 2022, after having struck a deal with SoftBank Group in September 2020. In February, Bloomberg reported that the U.S. Federal Trade Commission had opened an in-depth probe into Nvidia’s agreement to buy Arm.
Tesla Inc – Higher after yesterday’s rally, Tesla announced China deliveries surged 29% in May after April slump.
Biogen Inc – Multiple upgrades on the stock today following yesterday’s announcement BIIB had been granted FDA approval for its Alzheimer’s drug aducanumab.
Boeing Co – Trading higher premarket after Southwest Airlines announced a firm order for 34 more 737 MAX aircraft from the company.
Tilray Inc – Announced the launch of new medical cannabis brand Symbios, a complement to the co’s existing medical brand portfolio in Canada.
NextDecade Corp – Back on watch trading higher premarket for the second straight session after the oil & gas transportation services firm was upgraded by Morgan Stanley yesterday specifically pointing to the company’s Rio Grande project and increased outlook. Evercore SI analyst upgrade to “Outperform” today.
Cyclerion Therapeutics – Sharply higher after the company’s CEO Peter Hecht bought 823,170 shares in a private placement on June 3, raising his stake in the company to 8.6%.