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Tesla, Coinbase, Amazon and Silvergate Fall Premarket

Published 06/13/2022, 08:13 AM
Updated 06/13/2022, 08:14 AM
© Reuters.

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, June 13th. Please refresh for updates.

  • Tesla (NASDAQ:TSLA) stock fell 4.3%, weighed by the weaker overall tone despite RBC upgrading its investment stance on the electric car manufacturer to ‘outperform’ from ‘sector perform’, saying it can fend off the competition for years to come.

  • Silvergate Capital (NYSE:SI) stock fell over 15%, with the lender which concentrates on the digital currency industry weighed by the weakness in the cryptocurrencies. However, Wells Fargo initiated coverage with an “overweight” rating, saying the bank should benefit from institutional growth in the crypto space.

  • Coinbase (NASDAQ:COIN) stock fell 17% with the cryptocurrency exchange platform weighed by the sharp pullback in the price of bitcoin and other cryptocurrencies.

  • MicroStrategy (NASDAQ:MSTR) stock slumped 24% after the business software stock, which has bet heavily on bitcoin, followed the price of the digital currency lower.

  • Smith & Wesson Brands (NASDAQ:SWBI) stock fell 1.8% after U.S. senators agreed to the outlines of a deal on stricter background checks for buyers of some firearms at the weekend.

  • Amazon (NASDAQ:AMZN) stock fell 4.4% after Reuters reported that the world’s largest online retailer has offered to limit its use of seller data and boost the visibility of rival products on its platform to appease EU antitrust regulators.

Latest comments

And the pre-market fraud commences, as savvy "investors" magically pour into index futures contracts for absolutely no reason whatsoever.  Fraudulent, criminally manipulated JOKE.
This market is made of such stuff. Few months ago it was rising as if sky is the limit,& now it is crashing as if it will go deep into the ground to be buried after it dies. Nothing like that is going to happen. The market is going to go down for some time & then get back to normal. Media is fond of creating sensation. But government is clueless, that has been proved
Not this time. Bond yields
Markets are going back to normal right now. Bubble lasted a decade.
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