A Carvana used car vending machine displays vehicles on December 9, 2022 in Miami.
Joe Raeder | Getty Images
Check out the companies making headlines in midday trading.
caravan — Shares soared 10% in midday trading.company monday said The company expects its used EV segment to grow exponentially as consumer demand for EVs soars.
wide awake — The luxury electric car company rose 3.4 percent. Since January, Lucid has gained more than 15%, and since hitting a 52-week low on June 23, the stock has risen about 34%.
Shockwave Medical — Shares of the medical device maker rose 5.8% after Morgan Stanley upgraded its rating to “overweight.” The Wall Street firm said consensus estimates had misjudged potential catalysts that could improve sales prospects for its key products.
draft king — Sports betting stocks rose 6.6 percent. Jefferies added DraftKings to its list of near-profitability stocks, noting that the company is working to penetrate a “critical number of states.”
vein — Shares of the Mediterranean restaurant chain rose more than 9 percent on Monday after JPMorgan gave Cava an overweight rating. The investment firm said that the newly listed Cava has a business model and market opportunity for rapid expansion in the next fifteen years.
Icahn Enterprises — Shares up 17.6% The company said in a document It changed the terms of Carl Icahn’s personal loan to separate it from the trading price of the company’s stock. Short-seller Hindenburg highlighted the issue in a research note, sparking a sharp sell-off in the stock.
Fisk — Shares of Fisker rose 2% after the electric car maker said it would issue $340 million in convertible notes. Fisker said it plans to use the funding for general corporate purposes, including an additional battery pack line and other products.
Novavax — Biotech stocks rose 25%. On Friday, the company disclosed in a securities filing It will receive $350 million from Canada to buy unused Covid-19 vaccines.
— CNBC’s Jesse Pound, Sarah Min, Yun Li and Samantha Subin contributed reporting.
Svlook
