US Premarket: Poshmark, Vroom, TaskUs and other stocks making biggest moves
- Poshmark shares jumped over 5% in the premarket
- Online used car retailer Vroom's stock slipped over 3%
- TaskUs stock fell over 3% in the premarket
The online fashion retailer’s stock jumped over 5% in the premarket after Barclays upgraded it to overweight from equal weight. According to Barclays, Poshmark will get a boost from the fast-growing second-hand clothing market, especially if consumers trade down in a recession.
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Shares of the online used car retailer slipped over 3% after JP Morgan downgraded the stock to underweight from neutral, saying that it will continue to face challenges amid a broader economic slowdown. Vroom has already lost over 80% this year.
The stock slipped 3% in premarket action after Morgan Stanley downgraded the stock to equal weight from overweight, The outsourcing company for content moderation is facing near-term macro challenges, according to the investment firm.
The stock fell over 3% in the premarket after Bank of America downgraded the stock to neutral from buy. The current valuation for the ethanol fuel producer is fair, the investment firm said.
Revolve lost 2% in premarket trading after Barclays downgraded the stock to underweight from equal weight. The investment firm cited slowing revenue growth and tough comparisons at the clothing store company.
The stock fell 1% in premarket trading. BMO Capital Markets said the shares of the discount retailer have fully priced in recession expectations. The firm downgraded Dollar General to market perform from outperform.
Baidu, Alibaba, Pinduoduo
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Comcast, Charter Communications
Shares of both broadband service providers fell over 1% after Atlantic equities downgraded the stocks. The firm cited worse-than-expected broadband results from both companies.