| Tesla Motors [TSLA] - Last Close: $183.20 Tesla is heating up despite news of a recall. The EV company will recall more than 80,000 vehicles in China due to potential software and seat belt issues, according to a statement from Chinese regulators. Tesla recalled 67,698 Model S and Model X cars imported to China between Sept. 25, 2013 and Nov. 21, 2020. The software issues can affect the battery management system and other features. Tesla said it will upgrade the recalled vehicles' software and reinstall seat belts where needed. TSLA is leading the S&P 500 with a 2.1% gain. My Take: Tesla has been heating up as of late despite any consequential news. I'm not sure why a report of a recall is pushing share prices higher, but it's looking to me like this stock's recent downturn may be bottoming out. Canoo Inc [GOEV] - Last Close: $1.08 Insider buying is lifting shares of Canoo this morning. According to a recent regulatory filing, CEO Tony Aquila has executed a substantial purchase of shares. Canoo's lead executive acquired nine million shares of GOEV at a price of about $1.11 per share, for a total purchase price of about $9.99 million. The purchase brings Aquila's total stake to 55.7 million shares, a stake currently valued at roughly $60.16 million. Shares of GOEV are trading actively with a 13.8% gain. My Take: This is some big time insider buying. Perhaps Aquila has something up his sleeve for the company, more maybe he just thinks the stock is way too cheap. Either way, this stock is worth watching closely. VEON Ltd [VEON] - Last Close: $0.465 Veon just announced the sale of a key asset. The telecom company has agreed to sell its Russian operations to VimpelCom for 130 billion Russian rubles, the equivalent of roughly $2.1 billion USD. The deal gave the assets an enterprise value of 370 billion rubles, according to a statement by the company. VEON hopes to close the transaction on or before June 1st, 2023. Under the terms of the deal, VEON will also transfer ownership of its Kazakhstan operations to VEON Holdings and exchange certain intercompany loans. VEON is one of today's most active movers with a 29.0% gain. My Take: At this point, having operations in Russia seems like more hassle than it's worth, so there's no surprise that VEON would want to offload its Russian business. COMSovereign Holding [COMS] - Last Close: $0.084 COMSovereign is making moves this morning.
The telecom equipment stock is moving higher in light of a PRE 14A proxy statement filing.
On Nov. 23rd, COMSovereign filed a proxy statement that proposed several measures that shareholders will vote on at their upcoming meeting. Most notably, the company requested shareholder approval for a reverse stock split at a ratio yet to be determined. COMS gained 24.4% on Wednesday, and it's up 8.9% in today's premarket on active trading volume. My Take: This move is the result of a slow premarket. It looks like investors are attempting to keep the rally from Wednesday going, but the premarket rally is already beginning to lose steam. GainersCosmos Holdings [COSM] >> +23.7%JE Cleantech Holdings [JCSE] >> +42.3%Gravity [GRVY] >> +39.2%DeclinersCango [CANG] >> (36.5%)Kalera [KAL] >> (21.2%)Blade Air Mobility [BLDE] >> (14.8%) Pinduoduo Inc. Dr [PDD] ... AM
Fusion Fuel Green Plc [HTOO] ... AM
Arrowhead Pharmaceuticals, Inc. [ARWR] ... PM
The Azek Company Inc. [AZEK] ... PM
Joyy Inc. [YY] ... PM | 