Lucid, Nvidia, Coinbase Fall in Premarket; Kohl’s, Apple Rise By

Fibo Quantum

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By Peter Nurse — Stocks in focus in premarket trade on Monday, December 6th. Please refresh for updates.

  • Coinbase (NASDAQ:) stock fell 4.4% with the cryptocurrency exchange platform weighed by the sharp selloff in bitcoin. Square (NYSE:) stock dropped 2.4% and MicroStrategy (NASDAQ:) stock fell 7.3% with the two companies holding large positions in the digital currency.

  • Lucid (NASDAQ:) stock fell 13% after the electric vehicle maker confirmed it has received a subpoena from the Securities and Exchange Commission related to its SPAC merger deal with Churchill Capital.

  • Kohls (NYSE:) stock rose 4.2% after the WSJ reported that hedge fund Engine Capital, which owns around 1% of the department store chain, is urging it to consider a sale or a separation of its faster-growing e-commerce business to improve its lagging stock price. 
  • Tesla (NASDAQ:) stock fell 2.1% following a report that the SEC has opened an investigation over whistleblower claims on solar panel defects.
  • CF Acquisition Corp VI (NASDAQ:) stock soared over 23% following reports that the special purpose acquisition company will merge with Rumble, a social media platform that counts President Donald Trump as a member. The news added fresh impetus to Digital World Acquisition Corp (NASDAQ:) which is set to merge with Trump’s social media company. DWAC rose 8.4%.

  • Alibaba (NYSE:) ADRs rose 0.6% after the Chinese retail giant said it will reorganize its international and domestic e-commerce businesses, reacting to a challenge from newer, nimbler players. The shares hit their lowest in four and a half years on Friday.

  • Apple (NASDAQ:) stock rose 1.1% after KeyBanc initiated coverage of the iPhone maker at ‘overweight’, trusting to its growing services segment to keep generating profits in the next few years.

  • Nvidia (NASDAQ:) stock fell 4.1% after the U.S. Federal Trade Commission sued to block its more than $80 billion deal to buy U.K. chip technology provider ARM from Softbank. SoftBank (OTC:) ADRs fell 7.4% to an 18-month low.

  • GCP Applied Technologies (NYSE:) stock rose 14% after the maker of specialty construction chemicals agreed to be bought by French construction company Saint Gobain (OTC:) for around $32 billion.
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