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Lucid, Nvidia, Coinbase Fall in Premarket; Kohl's, Apple Rise

Investing.com
·2-min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, December 6th. Please refresh for updates.

Coinbase (NASDAQ:COIN) stock fell 4.4% with the cryptocurrency exchange platform weighed by the sharp selloff in bitcoin. Square (NYSE:SQ) stock dropped 2.4% and MicroStrategy (NASDAQ:MSTR) stock fell 7.3% with the two companies holding large positions in the digital currency.

Lucid (NASDAQ:LCID) stock fell 13% after the electric vehicle maker confirmed it has received a subpoena from the Securities and Exchange Commission related to its SPAC merger deal with Churchill Capital.

Kohls (NYSE:KSS) stock rose 4.2% after the WSJ reported that hedge fund Engine Capital, which owns around 1% of the department store chain, is urging it to consider a sale or a separation of its faster-growing e-commerce business to improve its lagging stock price. Tesla (NASDAQ:TSLA) stock fell 2.1% following a report that the SEC has opened an investigation over whistleblower claims on solar panel defects.

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CF Acquisition Corp VI (NASDAQ:CFVI) stock soared over 23% following reports that the special purpose acquisition company will merge with Rumble, a social media platform that counts President Donald Trump as a member. The news added fresh impetus to Digital World Acquisition Corp (NASDAQ:DWAC) which is set to merge with Trump's social media company. DWAC rose 8.4%.

Alibaba (NYSE:BABA) ADRs rose 0.6% after the Chinese retail giant said it will reorganize its international and domestic e-commerce businesses, reacting to a challenge from newer, nimbler players. The shares hit their lowest in four and a half years on Friday.

Apple (NASDAQ:AAPL) stock rose 1.1% after KeyBanc initiated coverage of the iPhone maker at ‘overweight’, trusting to its growing services segment to keep generating profits in the next few years.

Nvidia (NASDAQ:NVDA) stock fell 4.1% after the U.S. Federal Trade Commission sued to block its more than $80 billion deal to buy U.K. chip technology provider ARM from Softbank. SoftBank (OTC:SFTBY) ADRs fell 7.4% to an 18-month low.

GCP Applied Technologies (NYSE:GCP) stock rose 14% after the maker of specialty construction chemicals agreed to be bought by French construction company Saint Gobain (OTC:CODYY) for around $32 billion.

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