Modern CEO Stephane Bancel
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Here are the stocks that are making remarkable moves during afternoon trading.
GameStop – Shares of the brick-and-mortar retailer fell more than 20% as Reddit-powered frenetic trading expanded into February. After rising more than 1,600% in January, the stock is returning some of its fast, albeit seemingly synthetic, gains. GameStop is heavily limited on the Robinhood stock trading app.
Moderna – Biotech stock fell 8% after Bank of America revised the stock down from neutral. The company’s analyst said in a note that the move was largely due to valuation concerns.
AMC Entertainment – Shares of AMC Entertainment rallied more than 6% Monday, continuing last week’s gains, fueled by Reddit-obsessed retail investors trying to squeeze the heavily shorted name. AMC shook off any trade restrictions headwinds on the stock trading app Robinhood.
Pan American Silver, Coeur Mining – Mining stocks followed silver higher on Monday as the precious metal became a topic of discussion among social media retailers. Shares of Coeur Mining and Pan American Silver were up 19% and 9.7% respectively.
Ford – Auto shares are up 5% after the company announced a strategic partnership with Google parent company Alphabet.
Tesla – Shares of the electric vehicle company gained more than 2% after Piper Sandler more than doubled his price target from $ 515 to $ 1,200. “2020 was a breakthrough year for TSLA, but in our opinion the fireworks are not over yet,” the company said. The new target is about 47% above where the shares are currently trading.
Stitch Fix – Shares of the online styling services company fell more than 12% after Stifel downgraded the stock to a hold rating. The downgrade is a valuation call after stocks rallied more than 40% this year. In the long run, the company remains optimistic about the company’s outlook, saying the company will be in a “stronger position after the pandemic”. The company raised its target price for the stock from $ 64 to $ 83, which is slightly lower than where the stock traded on Monday.
Virgin Galactic – Shares of the space tourism company rallied a whopping 17% in trading Monday, breaking above $ 50 a share after the space tourism company announced it will rerun its aborted December flight test on Feb. 13. according to FactSet to finish above the previous high closing price. Shares of Virgin Galactic have more than doubled in the past month and are up more than 180% in the past 12 months.
Williams-Sonoma – Shares of the home retailer fell 3.7% after UBS cut its stock to sell from neutral. The investment firm said in a note that Williams-Sonoma’s recent performance has raised expectations for the coming year too high.
CureVac – The biotech company’s stock price jumped nearly 10% after Bayer announced it would help produce CureVac’s Covid-19 vaccine. The companies already had a collaboration.
CNBC’s Pippa Stevens, Maggie Fitzgerald and Michael Sheetz contributed to this story.