Today's Pre-Market Stock Movers: DWAC, BBBY, NKLA, VORB and More

Movers and Shakers wrote a column · Mar 31, 2023 20:22

Gapping up

$Digital World Acquisition Corp (DWAC.US)$ +19% (The SPAC linked to former President Donald Trump surged after a New York grand jury formally indicted Trump on charges related to "hush money" payments made before his 2016 campaign for president.)

Regional bank stocks $First Republic Bank (FRC.US)$ +1.7%, $Zions Bancorp (ZION.US)$ +0.6% $PacWest Bancorp (PACW.US)$ +0.6% (Some regional bank stocks that have been volatile in recent weeks rose Friday. UBS noted that bank borrowings from the Fed declined last week, a sign that liquidity issues may be under control following a difficult month for the broader sector.)

Gapping down

$Bed Bath & Beyond Inc (BBBY.US)$ -2% ( The declines came after the company once again warned that it may need to file for bankruptcy protection if its proposed $300 million stock offering fails.)

$Nikola (NKLA.US)$ -5% (The electric truck maker announced plans to raise $100 million through a secondary stock offering, or a private sale of stock if needed.)

$Virgin Orbit (VORB.US)$ -43% (The company announced that it would halt operations "for the foreseeable future" as it fails to secure funding. Virgin Orbit also said it will eliminate about 90% of its workforce.)

$BlackBerry (BB.US)$ -2% (The software company posted fourth-quarter revenue that fell slightly short of consensus estimates. The company's top line came in at $151 million, while analysts polled by StreetAccount had forecast revenue of $154 million.)

$Generac (GNRC.US)$ -3.7% (The power systems provider received a downgrade to underperform from neutral by Bank of America. The firm said Generac's guidance for the 2023 fiscal year seems out of reach with its residential segment pressured.)

Source: Dow Jones

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