US Premarket: Coinbase, Tesla, Amazon and other stocks making biggest moves

Coinbase (COIN)

Shares of the cryptocurrency exchange fell over 14% following the sharp pullback in the prices of bitcoin and other digital assets over the weekend.

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Tesla (TSLA)

The electric automaker’s stock fell 4% in the premarket as the broad sell-off in risk assets outweighed an upgrade from RBC Capital Markets.

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Amazon (AMZN)

Amazon was one of the worst performers among the mega-cap stocks, declining nearly 4% in premarket trading. Big Tech stocks were down sharply as investors braced for a broad sell-off.

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DocuSign (DOCU)

Shares of the software company fell over 5% in the premarket, extending its losses from Friday. DocuSign fell over 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.

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Microstrategy (MSTR)

Shares of the software company fell over 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.

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Silvergate Capital (SI)

Shares of the crypto-focused bank plunged over 13% in response to the decline in bitcoin and other digital assets. Silvergate’s fall came despite a positive initiation from Wells Fargo.

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Pfizer (PFE)

Shares of the pharmaceutical company were down around 1%, holding up better than the broader market after the Food and Drug Administration released its briefing document for a meeting later this week about Pfizer’s COVID-19 vaccine for young children. The agency said in its briefing document that no new safety concerns appeared in the data submitted from clinical trials.