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Tesla, Southwest Airlines, Nio drop premarket; Wynn Resorts, AMC Preferred rise

Investing.com
·1-min read

By Daniel Shvartsman

Investing.com - The following stocks are moving in Tuesday's pre-market session (prices as of 8:00 ET/13:00 GMT):

Tesla (NASDAQ:TSLA) is down 4.7% on reports it is cutting production at its Shanghai plant. Lucid Group (NASDAQ:LCID) traded down 2.1% in response, while Rivian Automotive (NASDAQ:RIVN) was down 2.2%. Nio (NYSE:NIO) Inc is down 5.5% after cutting its delivery guidance for Q4 by several thousand units. Southwest Airlines (NYSE:LUV) dropped 3.8% as it has had to cancel many more flights than U.S. airline peers due to bad weather throughout the country. China-based stocks Pinduoduo (NASDAQ:PDD) (up 2.1%), JD.com (NASDAQ:JD) (up 2%), and Alibaba (NYSE:BABA) (up 1.5%) rose on news that China would be reducing COVID restrictions further on January 8th, no longer requiring incoming travelers to quarantine. Wynn Resorts (NASDAQ:WYNN) is up 1.9%, also a potential beneficiary of the China news. Wynn Macau (HK:1128) is not trading due to the Hong Kong market holiday, but Las Vegas Sands (NYSE:LVS) is up 1.6% as well. Tuesday Morning (NASDAQ:TUEM) is down 42% as it announced a voluntary delisting from the Nasdaq after market close Friday. HTG Molecular Diagnostics (NASDAQ:HTGM) is up 50% after announcing a closing of a $10M offering of warrants after market close Friday. AMC Entertainment Holdings Preferred Units (NYSE:APE) rose 20% while AMC Entertainment Holdings common shares (NYSE:AMC) dropped 5.9% as a mooted conversion continues to bring arbitrageurs to the securities.

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