Tesla, Southwest Airlines, Nio drop premarket; Wynn Resorts, AMC Preferred rise

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Tesla, Southwest Airlines, Nio drop premarket; Wynn Resorts, AMC Preferred rise
Credit: © Reuters.

By Daniel Shvartsman

Investing.com - The following stocks are moving in Tuesday's pre-market session (prices as of 8:00 ET/13:00 GMT):

  • Tesla (NASDAQ: TSLA ) is down 4.7% on reports it is cutting production at its Shanghai plant. Lucid Group (NASDAQ: LCID ) traded down 2.1% in response, while Rivian Automotive (NASDAQ: RIVN ) was down 2.2%.
  • Nio (NYSE: NIO ) Inc is down 5.5% after cutting its delivery guidance for Q4 by several thousand units.
  • Southwest Airlines (NYSE: LUV ) dropped 3.8% as it has had to cancel many more flights than U.S. airline peers due to bad weather throughout the country.
  • China-based stocks Pinduoduo (NASDAQ: PDD ) (up 2.1%), JD.com (NASDAQ: JD ) (up 2%), and Alibaba (NYSE: BABA ) (up 1.5%) rose on news that China would be reducing COVID restrictions further on January 8th, no longer requiring incoming travelers to quarantine.
  • Wynn Resorts (NASDAQ: WYNN ) is up 1.9%, also a potential beneficiary of the China news. Wynn Macau (HK: 1128 ) is not trading due to the Hong Kong market holiday, but Las Vegas Sands (NYSE: LVS ) is up 1.6% as well.
  • Tuesday Morning (NASDAQ: TUEM ) is down 42% as it announced a voluntary delisting from the Nasdaq after market close Friday.
  • HTG Molecular Diagnostics (NASDAQ: HTGM ) is up 50% after announcing a closing of a $10M offering of warrants after market close Friday.
  • AMC Entertainment Holdings Preferred Units (NYSE: APE ) rose 20% while AMC Entertainment Holdings common shares (NYSE: AMC ) dropped 5.9% as a mooted conversion continues to bring arbitrageurs to the securities.

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