Twitter, Figs Fall Premarket; Tesla, Robinhood, Affirm Rise
2022.05.13 15:26
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Friday, May 13th. Please refresh for updates.
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Twitter (NYSE:TWTR) stock fell 11% after Elon Musk said his $44 billion deal to take the company private is “temporarily on hold”, while the two sides wrangle over the extent of fake and spam accounts on the social media network.
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Tesla (NASDAQ:TSLA) stock rose 5.4% as the risk of a significant equity overhang faded on Musk’s news. The electric vehicle maker’s stock has fallen 27% since the Twitter deal was announced last month.
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Robinhood (NASDAQ:HOOD) stock rose over 22% after a filing showed that Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency exchange FTX has acquired a substantial 7.6% stake in the popular online brokerage.
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Affirm (NASDAQ:AFRM) stock rose 39% after the buy-now, pay-later lender reported a smaller-than-expected loss for the first quarter while revenue also impressed. The company also announced it was extending its partnership with Shopify (NYSE:SHOP), up 5.8%.
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Figs (NYSE:FIGS) stock dropped 21% after the healthcare apparel company cut its full-year guidance, citing “supply-chain challenges”.
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Toast (NYSE:TOST) stock rose 14% after the cloud-based restaurant software company raised its full-year revenue guidance, saying it added more than 5,000 net locations last quarter for the first time.
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Honest Company (NASDAQ:HNST) stock rose 7.2% after the eco-friendly consumer goods company stuck with its full-year financial outlook despite inflation and supply chain pressures.
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Duolingo (NASDAQ:DUOL) stock rose 17% after the mobile-learning platform reported a strong first quarter with record bookings, prompting the company to raise its full-year guidance.
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Honda (NYSE:HMC) ADRs rose 0.5% after the Japanese auto giant put out better-than-expected earnings, even if it cut its guidance at the same time.
