Stocks making the biggest moves premarket: Coinbase, DocuSign, Microstrategy and more
Check out the companies making headlines before the bell:
Coinbase (COIN) — Shares of the cryptocurrency exchange sank more than 14% amid the sharp pullback in the prices of bitcoin and other digital assets over the weekend.
DocuSign (DOCU) — The software stock extended its losses from Friday in premarket trading, falling more than 5%. DocuSign fell more than 24% on Friday after the company missed earnings and slashed its guidance. Wolfe Research downgraded the stock to “underperform” from “peer perform” over the weekend.
Amazon (AMZN) — Big Tech stocks were down sharply in premarket trading as investors braced for a broad sell-off. Amazon was one of the worst performers among the megacap names, falling nearly 4%.
Microstrategy (MSTR) — The software stock dropped more than 20% in premarket trading as the price of bitcoin retreated below $24,000. Microstrategy has bet big on bitcoin and held more than 129,000 coins as of the end of March.
Silvergate Capital (SI) — The crypto-focused bank saw its stock fall more than 13% in response to the decline in bitcoin and other digital assets. Silvergate’s slide came despite a positive initiation from Wells Fargo.
Tesla (TSLA) — Shares of the electric automaker retreated 4% as the broad sell-off in risk assets outweighed an upgrade from RBC Capital Markets.
Pfizer (PFE) — The pharmaceutical stock was down about 1%, holding up better than the broader market, after the Food and Drug Administration released its briefing document for a meeting later this week this week about Pfizer’s Covid vaccine for young children. The agency said in its briefing document that no new safety concerns appeared in the data submitted from clinical trials.
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