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Tesla, DocuSign and Adobe rise premarket; Coinbase falls

AuthorPeter NurseStock Markets
Published Jun 09, 2023 08:00AM ET
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Investing.com -- Stocks in focus in premarket trade on Friday, June 9th. Please refresh for updates.

  • Coinbase (NASDAQ:COIN) stock fell 1.3% after credit rating agency Moody’s downgraded its outlook of the cryptocurrency exchange to "negative" from "stable," after U.S. regulators unveiled a lawsuit earlier this week alleging that the platform had broken U.S. law by failing to register as an exchange.

  • Tesla (NASDAQ:TSLA) stock rose 5.8% after General Motors (NYSE:GM), up 4.4%, said it would adopt Tesla's North American charging plug standard, and as a result, GM's electric vehicle buyers would have access to the Tesla Supercharger network.

  • ChargePoint (NYSE:CHPT) stock fell 5.6% and EVgo (NASDAQ:EVGO) dropped 7.4%, with these charging companies suffering as a result of the Tesla/GM deal.

  • DocuSign (NASDAQ:DOCU) stock rose 5% after the company that provides electronic signature technology reported strong first-quarter results, bolstered by an increase in billings.

  • Adobe (NASDAQ:ADBE) stock rose 3.8% after Wells Fargo upgraded their rating of the software company to ‘overweight’ from ‘equal weight’, expecting generative artificial intelligence to be a "tailwind" for the business.

  • Target (NYSE:TGT) stock fell 1.4% after Citigroup downgraded its stance on the retail giant to ‘neutral’ from ‘buy’, saying sales have peaked, after strong growth from 2020 to 2022, and are likely to fall further.

  • Nio (NYSE:NIO) ADRs fell 1.2% after the Chinese EV maker reported a sharp contraction in gross margins in the first quarter to 5.1% year-on-year in Q1 versus 18.1% in the same period a year back.

  • Fisker (NYSE:FSR) stock rose 1.8% after the luxury EV manufacturer detailed in a production update plans to scale up, setting up in China, adding it is on track to meet targets.

Tesla, DocuSign and Adobe rise premarket; Coinbase falls
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Comments (5)
Bob Bob
Bob Bob Jun 09, 2023 10:23AM ET
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This is the continuation of a 15 year old bubble. No reality to this rally.
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Lovely Dialona
Lovely Dialona Jun 09, 2023 9:27AM ET
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don't keep putting off your plans because that's bad
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soho electronics
soho electronics Jun 09, 2023 9:22AM ET
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the world can blow up but Nasdaq will always blast upwards
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Charles Manson
Charles Manson Jun 09, 2023 9:13AM ET
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Waiting at a charging station for @ 30 minutes is like a Wildebeast in Africa drinking at a water hole with the lions laying in wait. A carjacker sits back and says "Hmmmm .... So many electric cars to choose from."  OR maybe EVs aren't with th effort. Better hope for the latter.
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Warm Camp
Warm Camp Jun 09, 2023 9:13AM ET
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Carjackers are not qualified for govt subsidies, therefore they are unlikely to target EVs.
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Maurice 2
Maurice 2 Jun 09, 2023 9:13AM ET
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Sorry, but (( that )) never happens.
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Derick Lim
Derick Lim Jun 09, 2023 8:53AM ET
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Let's hope Messiah AI can continue its divine power rallying the US stocks with Euro entering recession and Asian facing inflation....
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