US Premarket: GameStop, BlackBerry and other stocks making biggest moves

GameStop (GME)

GameStop stock surged 16.6% in the premarket. As part of a stock split, the company seeks shareholder approval to increase the number of shares outstanding. The videogame retailer proposes to increase its shares to 1 billion from 300 million.

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BlackBerry (BB)

BlackBerry shares slid 4.4% in premarket action despite reporting an unexpected profit for its latest quarter, but the communications software company’s revenue fell below analyst estimates. As a result of flat growth in its cybersecurity unit, the company missed its revenue targets.

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Li Auto (LI)

Li Auto surged 6.6% in premarket trading after the Chinese electric vehicle manufacturer reported 31,716 vehicle deliveries in March, more than twice that of the previous year.

Apple (AAPL)

JP Morgan Securities removed the stock from its “Analyst Focus List,” stating that consumer spending may moderate the benefits from the iPhone SE launch and limit potential upside in services revenue. However, the firm maintained an “overweight” rating on the stock.

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Wynn Resorts (WYNN)

The resort and casino operator’s stock gained 1.6% in the premarket after Citi upgraded it to “buy” from “neutral.” Citi points to increasing clarity over regulations and licenses in Macau as well as an attractive valuation.

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Poshmark (POSH)

The online clothing marketplace operator’s stock plunged 2.2% in premarket trading after Stifel lowered its rating to “hold” from “buy.” Stifel pointed to the company’s numerous growth challenges despite healthy profit potential and a highly engaged user base.

Hycroft Mining (HYMC)

The small-cal mining company shared added 3% in the premarket after reporting a smaller-than-expected quarterly loss.

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Nio (NIO)

Nio shares surged 5.8% in premarket action after the China-based electric vehicle maker delivered 9,985 vehicles in March, an 37.6% increase from a year ago.