Midday movers: Virgin Orbit, Bed Bath&Beyond, Tesla and more
By Liz Moyer
Investing.com -- Stocks were rising as investors looked to end the first quarter on an upbeat note after a volatile March. Here are the midday movers for March 31.
- Virgin Orbit Holdings Inc (NASDAQ: VORB) shares fell 30% after the commercial space launch company said it was laying off most of its employees because it was unable to raise funding.
- Bed Bath&Beyond Inc (NASDAQ: BBBY) shares continued to fall on Friday, down 22% after it said it was going to sell $300 million of common stock, but warned it might have to seek bankruptcy protection if it was unable to complete the sale.
Tesla Inc (NASDAQ: TSLA) stock was up 5% as investors anticipate the release of its delivery numbers this weekend. Analysts expect 432,000 vehicles delivered in the first quarter, up from the fourth quarter and first quarter last year. Fellow EV maker Nikola Corp (NASDAQ: NKLA) shares fell 11% after it priced a $100 million stock offering 20% below its closing price on Thursday.
- Rumble Inc (NASDAQ: RUM) shares rose 6% and Digital World Acquisition Corp (NASDAQ: DWAC) rose 6.4% as conservative social media platforms are in the spotlight after the indictment of former President Donald Trump.
Restaurant Brands International Inc (NYSE: QSR) shares rose 2.5% after TD Cowen upgraded the Burger King parent to Outperform from Market Perform, citing a positive outlook under a new CEO.