Stocks making the biggest moves premarket: DraftKings, Carvana, Southwest Airlines, Planet Fitness and more

Discover the companies taking the lead in premarket trading today.

KKR, CrowdStrike, and GoDaddy are making waves, with shares in KKR rising over 8% and CrowdStrike and GoDaddy shares increasing by 6% and 3% respectively. These three powerhouses will be joining the S&P 500 on June 24 due to the index’s quarterly rebalance. The slots they fill were previously held by Robert Half, Comerica, and Illumina, which are currently facing a decline in the premarket phase. Meanwhile, shares of Dell Technologies and Palantir Technologies dropped by 1% and 3% respectively, following disappointment over their exclusion from the index.

AMD shares are down by over 2% after a downgrade from Morgan Stanley, with analyst Joseph Moore suggesting that the anticipated benefits from artificial intelligence may be a tall order.

DraftKings shares saw a steady increase of 1.8%, following Morgan Stanley’s reiteration of its overweight rating and the assertion that the stock is set for a rally, despite concerns around the legalisation of a sports betting tax in Illinois.

Nvidia’s shares saw a slight downturn ahead of its first trading day post its 10-for-1 stock split.

Southwest Airlines shares soared by more than 8% in light of the Wall Street Journal’s report that activist Elliott Investment Management has acquired a significant stake in the company.

Carvana’s shares jumped 3% after JPMorgan singled out the car marketplace as a top pick, praising its excellent performance in availing a wide range of vehicles at various prices.

ReNew Energy Global saw its shares soar almost 7% following a price target increase from Morgan Stanley, who highlighted the company’s strong position in India’s evolving energy landscape, due to its core renewable energy and green hydrogen ventures.

Finally, Planet Fitness shares rose about 4% following an upgrade from Jefferies. Analyst Randal Konik projected a bright future for the fitness chain, predicting strong franchise unit growth in 2025.