By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, November 10th. Please refresh for updates.
DoorDash (NYSE:DASH) stock soared over 15% after the food delivery company announced the acquisition of Finnish rival Wolt Enterprises for just over $8 billion, helping it expand into Europe.
Tesla (NASDAQ:TSLA) stock fell 1.2%, extending recent declines after CEO Elon Musk asked his Twitter (NYSE:TWTR) followers over the weekend if he should sell 10% of his stake. A regulatory disclosure on Tuesday showed that Musk's brother Kimbal had sold over $100 million of Tesla stock the day before Musk staged the poll.
Wendy’s (NASDAQ:WEN) stock fell 1% after the fast food chain missed estimates for U.S. same-store sales growth.
Coinbase (NASDAQ:COIN) stock fell 9.3% after the cryptocurrency exchange reported a near 30% fall in third-quarter trading volumes, hit by lower volatility and declining prices for bitcoin and other digital currencies. The stock has risen over 40% in the last two months as crypto currencies including Bitcoin and Ethereum have hit all-time highs.
Poshmark (NASDAQ:POSH) stock fell 30% after the social commerce marketplace forecast weak holiday-quarter revenue due to a bigger-than-expected hit from the recent changes in Apple's (NASDAQ:AAPL) privacy policy.
Fiverr International (NYSE:FVRR) stock rose 15% after the online freelance marketplace beat third-quarter expectations and lifted its full-year guidance despite a still uncertain outlook from the pandemic.
FuboTV (NYSE:FUBO) stock fell 9.3% after the sports-focused streaming television service reported a wider-than-expected loss in the third quarter.
General Electric (NYSE:GE) stock rose 1.5% after Deutsche Bank (DE:DBKGn) upgraded its stance to ‘buy’ from ‘hold’, adding the industrial conglomerate’s plan to split into three units can add another 17% to the share price. The company earlier announced a major bond issue aimed at refinancing its still-heavy debt burden.
Palantir Technologies (NYSE:PLTR) stock fell 3% after RBC downgraded its stance on the data analytics firm to ‘underperform’ from ‘sector perform’, citing the company’s slowing revenue growth.