Welcome to Extreme Investor Network, your go-to source for the latest updates in the world of finance and investing. Today, we want to highlight some of the top companies making headlines in premarket trading.
First up, we have Li Auto and Tesla, two prominent electric vehicle makers that saw a significant drop in their stock prices following announcements of price cuts. Tesla slashed the sticker price of its Model 3 in China, while Li lowered prices on many of its models, including the newly launched MEGA SUV. This news sent ripples through the market, with U.S. shares of Chinese electric vehicle makers Nio and Xpeng also slipping in tandem.
On the other side of the spectrum, Verizon, the telecommunications giant, traded 1.5% higher as earnings per share came in ahead of expectations. Despite slightly missing revenue estimates, Verizon reaffirmed its full-year guidance for several measures, instilling confidence in investors.
Riot Platforms, a bitcoin miner, saw a 5.9% jump after JPMorgan Chase reiterated its overweight rating, citing optimism about Riot’s position as a bitcoin leader. This comes on the heels of the cryptocurrency’s recent “halving” event, which has created a buzz in the market.
In the world of crypto stocks, Coinbase, Marathon Digital, and Microstrategy all saw gains, reflecting the growing interest in bitcoin-related investments. Alcoa, the aluminum company, also rose 1.2% after an upgrade from Morgan Stanley, signaling a better risk-reward backdrop and improving profitability.
Moving on to financial services, Block and Euronet Worldwide both received positive endorsements from Bank of America and Citi, respectively. These upgrades underscore the potential for growth and value in these companies, making them worth keeping an eye on.
Last but not least, Hut 8, a data center operator, gained 2.6% after Benchmark initiated coverage with a buy rating. With a diversified business model and substantial bitcoin holdings, Hut 8 is poised for future success, according to the firm.
At Extreme Investor Network, we strive to provide you with valuable insights and analysis to help you make informed investment decisions. Stay tuned for more updates on the latest trends and opportunities in the world of finance.
