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Crypto Stocks – The group trading higher premarket as trades at its highest level since mid-May. The largest digital currency, is up more than 4% trading back above $45000 jumping as much as 22% from its recent trough hit on Thursday. China-based bitcoin companies advanced the most, Ebang International shares are up 10.1%, SOS added 16.0%, Future Fintech Group was up as much as 26.5%. Bitcoin mining company Bit Digital shares surged 5.4%, while MARA, RIOT, MSTR and crypto exchange has added more than 4% premarket.
Robinhood Markets – Shares rallied 3% to end the week Friday after tumbling more than 26% Thursday snapping a four-day winning streak, after the newly public online brokerage said early investors may sell nearly 98 million shares, the company reiterated Friday the new sale was to be from current shareholders not additional shares.
Draftkings Inc – Announced premarket it has entered into a definitive agreement for DraftKings to acquire Golden Nugget Online Gaming in an all-stock transaction that has an implied equity value of approximately $1.56 billion. The acquisition will enable DraftKings to leverage Golden Nugget’s well-known brand, iGaming product experience and existing combined database of more than 5 million customers.
Tesla Inc – Analysts at Jefferies upgraded the electric carmaker shares to “buy” from “hold”; and also raised their PT to $850 from $700. Brokerage upgrades TSLA on accelerating earnings/return on invested capital, leverage and benchmark for capital employed. Jefferies expects higher global BEV demand, increased battery and assembly capacity and a diverse and mix-accretive product line-up in 2022.
Sphere 3D Corp. – Big mover Friday rose more than 54% on heavy volume after the standalone storage and technology company announced an agreement providing a six-month exclusive right to acquire all rights from Hertford Advisors Ltd. on bitcoin mining agreements.
AMC Entertainment – Lower premarket extending declines from Friday’s session ahead of the “meme” stock movie theater operator’s qtrly report after the close on Monday, with investors eyeing a rebound in demand as consumers return to the movies. AMC’s stock has gradually declined following its surge in May and June, which was fueled by retail traders on Reddit. The stock remains up over 1,400% YTD but has receded by about 48% from its closing high on June 2
Windtree Therapeutics – Shares are set to open at a near two-month high, the company reported a loss of 1 cent per share vs analysts’ avg. estimates for a loss of 48 cents thanks in part to falling expenses. WINT has missed EPS estimates for three of the last five quarters, its shares are set for their best session in two months.