GameStop, Meta Platforms fall premarket; Designer Brands, Lucid rise
Investing.com -- 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).