Stocks making the biggest moves premarket: Chipotle, MicroStrategy, CarMax, Intel and more

Explore the companies that are making waves in premarket trading!

Chipotle

— The fast-casual Mexican chain’s shares spiked 6.6% in premarket trading following the announcement of a 50-to-1 stock split. The new alteration, made public on Tuesday, is schedule to occur in June, if supported by shareholders’ vote. Additionally, Deutsche Bank boosted its price target on Chipotle’s stock, indicating high growth predictions.

CarMax

— The used car dealer’s shares surged by 3% post Needham’s upgrade from hold to buy. The investment firm anticipates a potential multiyear recovery in the used vehicle market.

Riot Platforms

— The company’s stock has increased by 5% following JPMorgan’s upgrade from neutral to overweight. Reginald Smith, an analyst, pointed out Riot’s “remarkable blend of top-tier power contracts, size, and liquidity,” and believes the company provides the highest relative upside amongst U.S.-listed bitcoin miners.

General Mills

— The company’s shares went up over 3% after outperforming Wall Street’s top and bottom line predictions. A solid full-year outlook was also reaffirmed by General Mills.

Signet Jewelers

— Shares of the company fell by more than 7% as their first-quarter revenue guidance failed to meet Wall Street forecasts.

PDD Holdings

— The company’s shares skyrocketed over 17% upon beating analyst revenue estimates for the fourth quarter.

Mobileye

— The company’s stock leaped 4% in response to Volkswagen’s decision to strengthen its partnership with the automotive tech firm. Mobileye will be supplying new automated driving technology to the European car manufacturer.

Intel

— The chipmaker’s shares rose nearly 3% after receiving a grant of up to $8.5 billion from the White House under the CHIPS Act. Both RBC Capital Markets and JPMorgan marked Intel as one of the few companies with additional growth potential.

MicroStrategy Incorporated

— The company’s shares rebounded by more than 2% despite TD Cowen cutting its price target on MicroStrategy following the company’s intensified bitcoin purchasing. However, the firm maintained its outperform rating on the stock.

Share This Article

 

About the Author

Stocks making the biggest moves premarket: Chipotle, MicroStrategy, CarMax, Intel and more

Editor Prism MarketView