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Coinbase Global – The U.S. SEC has threatened to sue COIN if the company goes ahead with plans to launch a programme allowing users to earn interest by lending crypto assets. COIN’s chief legal officer has said the company will delay the launch of its ‘Lend’ product until at least October as a result.
NIO Inc – Shares of the Chinese electric car company are lower to start this morning after it announced plans to sell up to $2 billion in new US stock. NIO filed a prospectus with the Securities and Exchange Commission to sell up to $2 billion worth of U.S. depositary shares in an at-the-market offering, which aims to price shares at current market prices.
Upstart Holdings – Continues its impressive run higher up another 3% in early trading. The stock has received multiple positive moves from analysts in recent weeks including Piper Sandler analysts who are the latest to increase their PT on the AI lending company’s stock to $300.
Squeeze Stocks – Active again premarket after another volatile day Tuesday, CLOV shares jumped to the top of the WSB sentiment list yesterday and arm actively traded premarket again this morning, we also saw BBIG come back to life late in the session a wild mover last week. CLOV, BBIG, SPRT, CRSR
DraftKings Inc – On a solid 2 week long rally announced today it has launched its new and exclusive game DraftKings Rocket to the DraftKings Casino product suite, which is currently available in New Jersey with Michigan and West Virginia to follow pending regulatory approval. Built entirely in-house, DraftKings Rocket is the latest addition to the more than 30 games that have been developed by internal team members and part of over 60 unique game builds in total. It also comes on the heels of the company’s latest iGaming expansions, which included the addition of both Spanish 21 and DKCraps earlier this year.
Netflix Inc – Rallied to fresh all-time highs again yesterday, J.P.Morgan analyst Doug Anmuth, out with a positive note on the stock this morning, expects Q4 to be streaming giant Netflix’s strongest content quarter so far with new seasons of series such as Cobra Kai, Money Heist, The Witcher. “We continue to like NFLX shares toward year-end based on strength of the 2H content slate, greater distance from pandemic pull-forward, stronger seasonality” – JPM
Tesla Inc – In August sold 44,264 China-made vehicles, including 31,379 for export, up from a month earlier according to the China Passenger Car Association (CPCA). CPCA said passenger car sales in August in China totalled 1.5 million, down 14.7% from a year earlier.
PayPal Holdings – Trading higher premarket after saying it will acquire Japanese buy now, pay later (BNPL) firm Paidy in a $2.7 bln largely cash deal, heating up BNPL race as the industry experiences a pandemic-led boom.
India Globalization Capital Inc – Announced it has completed its Phase 1 clinical trial on Alzheimer’s Patients, IGC’s cannabis-based investigational new drug, IGC-AD1, for patients suffering from Alzheimer’s disease. Reports positive initial safety and tolerability.
Alset Ehome International – Document Security Systems announced a $15 Million investment by Alset Ehome International Inc. DSS will issue 12,155,591 shares of its common stock for a purchase price of $1.234 per share for an aggregate amount of approximately $15 million.
Gain Therapeutics – Announced positive topline data in Patient-derived iPSC Study evaluating STAR compounds as a treatment for Gaucher and Parkinson’s Disease.