The Ford company logo will be displayed on a sign outside the Chicago Assembly Plant on February 03, 2021 in Chicago, Illinois.
Scott Olson | Getty Images
Clover Health Investments – The healthcare company’s shares rose 9.5%, increasing their weekly earnings by over 13% as Reddit-fueled speculative trading in the name continued. Clover said in a filing with the Securities and Exchange Commission earlier this week that a large chunk of his stock was past and could be traded short by short sellers in the future, which could increase the likelihood that it would be the target of a brief press.
Xpeng – The US-listed Chinese electric car maker is up 4% after receiving the green light to go public on the Hong Kong Stock Exchange. The IPO could raise between $ 1 billion and $ 2 billion.
Under Armor – The sportswear company’s shares rose 3.2% after investment firm Cowen named Under Armor one of their best ideas. Analyst John Kernan told clients to take advantage of the stock’s recent weakness and bet that Under Armor’s management will be able to beat earnings and sales expectations.
MicroStrategy – Business intelligence firm MicroStrategy stock rose more than 4% as Bitcoin price rose 8% above $ 33,400 on Wednesday before falling slightly. The company took advantage of the recent drop in prices to buy more Bitcoin and now holds more than 100,000 units of digital currency valued at more than $ 3 billion on its balance sheet.
Coinbase – Cryptocurrency exchange stocks rose more than 2%, also in parallel with the Bitcoin rebound. Coinbase’s business is tightly tied to the price of Bitcoin and Ether, although this may change in the future as it expands. Ark Invest’s Cathie Wood also bought 214,718 shares of Coinbase in their flagship ARK Innovation Fund on Tuesday, valued at approximately $ 47.8 million, based on the stock exchange’s closing price of $ 222.47 per share.
Winnebago – The RV company saw its stock fall less than 1% despite reporting strong results for its third fiscal quarter on Wednesday morning. As the economy continues to open up again, the outdoor lifestyle stocks that thrived in the pandemic are now sliding down. Similar stocks like Thor and Brunswick are trending down similarly.
Ford – Ford shares rose 4.5%. The automaker announced that its Mustang Mach-E GT and Mustang Mach-E GT Performance Edition electric vehicles have exceeded the range estimated by the Environmental Protection Agency. Barclays on Tuesday raised Ford’s price target to $ 17 per share from $ 15 on Tuesday and reiterated its “overweight” position in the automaker.
Occidental, Devon, Diamondback – Energy stocks rose broadly on Wednesday as the European benchmark Brent crude surged above $ 75 a barrel. Occidental Petroleum stocks rose more than 3% while Devon Energy and Diamondback Energy rose 3% and 2.6%, respectively, before falling again.
– CNBC’s Margaret Fitzgerald, Hannah Miao, Jesse Pound and Tom Franck contributed to the coverage
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