A person walks past a GameStop in the Manhattan neighborhood of New York City, New York, the United States, January 29, 2021.
Carlo Allegri | Reuters
Check out the companies that are making headlines after the bell:
RH – The company formerly known as Restoration Hardware saw its shares gain 6% in expanded trading after it reported that its net income rose 78% to $ 860.8 million for the first quarter, compared to $ 860.8 million $ 482.9 million a year ago. The company also increased its revenue expectations for fiscal 2021 to a range of 25 to 30%, compared to a previous range of 15 to 20%.
Clover Health – The rally that pushed Clover stock up 85% on Tuesday continued to ease on Wednesday afternoon as stocks fell about 6% after the closing bell. The stock fell 23.6% during Wednesday’s regular session. Clover, which offers private health insurance and Medicare plans in eight US states, went public earlier this year by merging with a special purpose vehicle operated by venture capitalist Chamath Palihapitiya.
GameStop – The video game retailer’s shares fell 7% in volatile trading following the bell following first-quarter earnings and the announcement that former Amazon e-commerce manager Matt Furlong will become the company’s new CEO. GameStop, a popular retailer in early 2021, also said its adjusted loss per share for the first quarter was 45 cents on sales of $ 1.28 billion.
Clean Energy Fuels – Stocks of the California-based natural gas company continued their wild ride after the end of regular trading in New York, rising 9% in the expanded session. The after-hours pop came after a fit of trading frenzy that drove the stock up 31.5% during the regular session. The stock closed at $ 13.02 per share.
Lordstown Motors – The electric truck maker’s shares fell more than 3% in overnight trading after a wild regular session that saw the stock drop 20% before rebounding to end the day flat. The whip came on Wednesday after Lordstown said it was in talks with multiple parties to raise funds the day after it issued a going concern warning saying it did not have the funds to cope with commercial production to start. The announcement came as a turnaround for some investors looking to get into the company after it announced last year that it would go public through a reverse merger with a blank check company.