Stocks making the biggest moves premarket: AMC, GameStop, Boeing, Dell and more
Check out the companies making headlines before the bell. AMC Entertainment , GameStop — AMC and GameStop shares posted fell in early morning trading as momentum fizzled from the meme stock craze , which was reignited Monday by a social media reappearance from “Roaring Kitty.” AMC shares were down more than 7% after the movie theater chain announced it will issue more than 23 million shares “in exchange for $163,850,000 aggregate principal amount of its 10%/12% Cash/PIK Toggle Second Lien Subordinated Notes due 2026.” GameStop shares slid 6%. Boeing — The airplane manufacturer’s shares slid 1.1% after the Justice Department said Boeing violated a 2021 settlement related to its two fatal 737 Max crashes, exposing the company to potential U.S. prosecution. Nio — Shares advanced 3.3% after JPMorgan upgraded the Chinese electric vehicle maker to neutral from underweight. The stock, which has soared over the past month, could benefit from Chinese government stimulus policy and Nio’s latest battery as a service (BaaS) strategy, which could drive sales, the bank said. Dell — The technology company rose about 2% after Morgan Stanley raised its price target on the stock. The bank said that Dell is “gaining momentum” with enterprise clients, including for AI server demand. SunPower — The solar stock dropped 22.3%, giving back some of its 59% surge from the prior session. On Tuesday, shares popped after the White House announced increased tariffs on certain solar products from China. On Wednesday, however, Wolfe Research downgraded the stock underperform from peer perform, noting SunPower the “most extreme example of the meme stock resurgence” within clean technology names. — CNBC’s Alex Harring, Fred Imbert and Jesse Pound contributed reporting.
