Modern CEO Stephane Bancel
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Below are the stocks that make notable moves in the noon trade.
GameStop: The shares of the brick and mortar retailer fell more than 20% as the frantic trade fueled by Reddit spread in February. After rising more than 1,600% in January, the park is returning some of its meteoric, albeit seemingly synthetic, gains. GameStop is heavily restricted to the Robinhood stock trading app.
Modern – Biotech shares fell 8% after Bank of America downgraded shares to a lower-than-neutral return. The firm’s analyst said in a note that the move’s measure is mainly due to valuation concerns.
AMC Entertainment: Shares of AMC Entertainment rose more than 6% on Monday, continuing its rise since last week driven by Reddit-obsessed retail investors trying to squeeze the name short. AMC removed any wind contrary to the trade restrictions of the Robinhood stock trading application.
Pan American Silver, Coeur Mining: Mining stocks followed silver higher on Monday as the precious metal became a hotbed of discussion among retailers on social media. Shares of Coeur Mining and Pan American Silver rose 19% and 9.7%, respectively.
Ford: Car shares jumped 5% after the company announced a strategic partnership with Alphabet, Google’s parent company.
Tesla: The electric vehicle company’s shares gained more than 2% after Piper Sandler more than doubled its target in shares, from $ 515 to $ 1,200. “2020 was an important year for TSLA, but in our view, the fireworks are not over,” the firm said. The new target is approximately 47% above the current share price.
Stitch Fix: The shares of the online styling services company fell more than 12% after Stifel downgraded the shares to a retention rating. The rebate is a valuation call after the recovery of more than 40% of the shares this year. In the long run, the company remains optimistic about the company’s prospects, saying the business will be in a “stronger position after the pandemic”. The firm raised its target in shares from $ 64 to $ 83, slightly below what was traded Monday.
Virgin Galactic: The shares of the space tourism company jumped to 17% when trading on Monday, surpassing $ 50 per share, after the space tourism company announced it would return to the aborted flight test on December 13 of February. track to finish above its previous highest closing price, according to FactSet. Shares of Virgin Galactic have more than doubled in the last month and have risen more than 180% in the last twelve months.
Williams-Sonoma: Shares of good household retailer fell 3.7% after UBS downgraded shares to sell from neutral. The investment firm said in a note that Williams-Sonoma’s recent performance has raised expectations too high for next year.
CureVac – The biotech company’s share price rose nearly 10% after Bayer announced it would help manufacture CureVac’s Covid-19 vaccine. The companies already had a partnership.
– CNBC’s Pippa Stevens, Maggie Fitzgerald and Michael Sheetz contributed to this story.