Yahoo Finance Live host Seana Smith breaks down the action surrounding trending stocks in after-hours trading, including how the Trump-tied SPAC is filing to delay earnings.
- Let's go over to China with some pre-market-- post-market, rather-- movers, my friend.
SEANA SMITH: All right, [? David. ?] Let's take a look at some of these movers here. Apple-- let's start there, up just about 4/10 of a percent. You can see it right around $173.
A big reason why we're seeing this move after hours and while we could see a bigger move tomorrow is an upgrade that we're getting from Credit Suisse. So Shannon Cross is the analyst there, raising her rating to outperform from neutral $201 price target-- that's up from $166-- implying about a 16% upside from where Apple closed the day, because the Apple today was under just a little bit of pressure.
The reason why Shannon Cross is optimistic about Apple-- a lot of that has to do with its services business, its $1.8 billion install base, the number of devices that has Apple installed on it. Obviously, that creates a very sticky consumer, and Shannon sees that as being very bullish here for the company going forward.
Let's take a look at Digital World Acquisition. You can see it under a bit of pressure here after hours, falling about a half of a percent. And a couple of things, [? David. ?] This is the [INAUDIBLE] stock. It actually announced that it's delaying its earnings report. Now, the delay comes amid a probe into the stock for violating securities regulation.
So we're seeing the stock under a little bit of pressure. They did say, though, in this filing, that they do anticipate it will file its 10-Q within the five-day grace period. But certainly a name to keep an eye on.
Next up is Cassava Sciences. You can see it soaring to the upside here after hours, up nearly 30%. The big reason why we're seeing this move is board member Sanford Robertson buying 100,000 shares valued at just around $2 million worth. The average price that he paid-- around $20.69. Per-m share transaction increased directly owned shares to about 11%. That equates to about a million shares. The stock is off just about 15% over the past month.
Now let's take a look at Canoo. You can see GOEV moving to the upside here, up just about 10% after hours, as CEO and executive chairman Tony Aquila buying about 200,000 shares. Shares moving to the upside as a result of this, up just about 11%.