Stocks making the biggest moves premarket: Nio, Stellantis, MicroStrategy and more

Before the opening bell, here’s a snapshot of some notable companies making headlines:

Nio’s US-listed shares experienced a surge of over 13% as the Chinese electric vehicle manufacturer disclosed a financial boost of 13.3 billion yuan for its China-based entity, Nio China. The funds, a blend of capital from “strategic investors” and Nio Inc., will see Nio Inc.’s stake in Nio China decrease to 88.3% from 92.1% by year-end.

Stellantis saw its shares tumble by over 13% as it downgraded its full-year forecast amid a worsening “global industry backdrop.” Fellow automakers Ford and GM also dipped.

Alibaba, the Chinese e-commerce colossus, saw its stock climb 4% after the announcement from China’s central bank of a mortgage rate reduction on existing home loans before the end of next month. This news also triggered a broader surge in China stocks, marking their best trading day since 2008.

Rocket Lab’s shares climbed more than 3%, furthering the 12% gains experienced during Friday’s session. These increases followed a price target enhancement from KeyBanc Capital Markets, who highlighted high confidence in Rocket Lab’s business scaling capabilities.

CVS Health’s stocks gained nearly 3% following news from The Wall Street Journal that Glenview Capital, a significant shareholder, is set to meet CVS leaders to propose amendments for the struggling business. This move could set the stage for a shareholder activism campaign.

Crypto-associated stocks, including Coinbase and MicroStrategy, slid as bitcoin’s price struggled amidst uncertainties relating to the expected US East and Gulf Coast port strike Tuesday and the aftermath of a substantial rally last week. Coinbase was down 3% in pre-market trading, MicroStrategy slipped 5%, and Bitcoin traded under $64,000, showing a 3% decrease.