Global Courant
A GameStop location on 6th Avenue on March 23, 2021 in New York.
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Check out the companies making the biggest strides in premarket trading:
GameStop — Stocks plummeted nearly 21% in premarket trading. The company announced the ouster of CEO Matthew Furlong on Wednesday and said Ryan Cohen would take over as executive chairman.
Wynn Resorts, Las Vegas sand — The casino operators both lost about 2% after being downgraded by Jeffries to stop buying. The Wall Street firm said Macau’s recovery is already priced into stocks.
Seal Jewelers — Shares fell nearly 11% after the jeweler’s second-quarter revenue and operating profit forecast fell short of expectations. Signet also lowered its full-year profit and revenue expectations below expectations, citing mounting macroeconomic pressure on consumers and a less-than-expected Mother’s Day.
Bright — Shares rose about 2% after Zhu Jiang, head of Lucid’s China operations, said the electric vehicle maker is preparing to enter the Chinese market. Reuters, citing a person familiar with the matter, also reported that the company is considering setting up production in China.
T Mobile — Shares of the wireless carrier added about 1% in premarket trading after Wolfe Research upgraded T-Mobile to outperform peer performance. The investment firm said T-Mobile’s stock could rise more than 20% after underperforming so far this year.
Adobe — The stock gained about 2% following the company’s announcement that it will offer its artificial intelligence tool, Firefly, to large corporate clients. Firefly is available through the standalone Firefly app, Adobe Express, and Creative Cloud.
HashiCorp – The stock fell more than 22%, a day after the company reported missed earnings and a decline in sales in the first quarter. HashiCorp also announced targeted budget cuts and an 8% headcount reduction, citing the current customer and economic environment.
— CNBC’s Jesse Pound, Sarah Min and Brian Evans contributed to the reporting.
(TagsToTranslate)HashiCorp Inc
