GameStop, Meta Platforms fall premarket; Designer Brands, Lucid rise

June 8, 2023 8:21 AM EDT -- Stocks in focus in premarket trade on Thursday, June 8th. Please refresh for updates.

  • GameStop (NYSE: GME) stock fell 21% after the troubled video game retailer announced that it had "terminated" chief executive officer Matt Furlong and appointed Ryan Cohen as executive chairman, as it attempts to boost slumping sales.

  • Designer Brands (NYSE: DBI) stock rose 5.3% after the fashion retailer announced a $100 million share repurchase plan, overshadowing a disappointing first quarter, which prompted the company to cut its full-year outlook.

  • Lucid Group (NASDAQ: LCID) stock rose 2.2% after the electric vehicle maker's head of China operations, Zhu Jiang, said the company is preparing to enter the world's largest auto market.

  • Meta Platforms (NASDAQ: META) stock fell 0.8% after EU industry chief Thierry Breton called for the tech giant to take steps to tackle content targeting children, saying its voluntary code seemed not to be working.

  • Amazon (NASDAQ: AMZN) stock rose 1% after Wells Fargo initiated coverage of the online retail giant with an ‘overweight’ rating, citing the company's recent shift to a regional fulfillment model for deliveries, which could add 30% to the share price.

  • Las Vegas Sands (NYSE: LVS) stock fell 1% after Jefferies downgraded its stance on the casino resort to ‘hold’ from ‘buy’, citing the lack of near-term catalysts.

  • Tesla (NASDAQ: TSLA) stock fell 0.2% after the Spanish press reported that the electric vehicle manufacturer is in talks to build a car factory in Spain, an investment that could surpass €4.5 billion (€1 = $1.0734).

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