Stock futures were mixed Monday as hopes remained high that the Biden White House will deliver another round of stimulus to boost the economy.
Here are some of the top movers during premarket trading on Monday.
1. GameStop GME | Up 43.05%
Shares of GameStop (GME) – Get Report surged more than 40% in premarket trading Monday as the conflict between retail investors and short-sellers over the loss-making videogame retailer continued.
Last week, Andrew Left, managing partner of short-seller Citron, said he was abandoning the stock because of harassment from bulls.
2. Tesla TSLA | Up 1.19%
Shares of Tesla (TSLA) – Get Report traded higher Monday after analysts continued to roll out their expectations for even better days ahead for the electric car maker ahead of its fourth-quarter earnings.
Tesla is scheduled to report earnings Wednesday.
3. Apple AAPL | Up 2.7%
Shares of Apple (AAPL) – Get Report rose Monday after Wedbush analyst Dan Ives raised his price target on the stock to $175 as he expects the tech giant to post robust results this week.
Ives said Apple’s “iPhone 12 supercycle hype has become a reality” led by Asia. Ives raised his forecast of iPhone 12 sales by 35% to more than 90 million.
“We have not seen a launch uptrend such as this in a number of years for Apple and the only iPhone trajectory similar would be the iPhone 6 in 2014 based on our analysis,” Ives wrote.
Ives also projected the Cupertino, Calif., company to touch a market value of $3 trillion over the next 12 months.
4. AMC Entertainment AMC | Up 35.04%
Shares of (AMC) – Get Report jumped more than 35% in premarket trading after the cinema-chain operator said it had raised $917 million in debt and equity that takes bankruptcy “completely off the table” and allows it to extend its “financial runway.”
5. Merck MRK | Down 1.2%
Shares of Merck (MRK) – Get Report fell Monday after it halted its nascent coronavirus vaccine development program citing “inferior immune response” in early trials.
