By Check out the companies making some of the biggest moves in premarket trading.
ChargePoint — Shares of the electric vehicle charging station company jumped 5% premarket after Bank of America upgraded the stock to buy. The Wall Street firm called ChargePoint a best-in-class way to play the EV charging theme, highlighting the company’s scale and diversity as keys to sustainable growth.
Ford Motor — Shares of the automaker rose more than 2% after Jefferies upgraded the stock and said the automaker has a strong plan and management that can help it close the gap with rivals. The analyst also raised his price target on the shares, implying they could rally more than 30%.
Tesla — Shares gained 3% premarket. On Monday, Reuters reported a private jet used by CEO Elon Musk arrived in China. Musk is expected to meet with senior Chinese officials and visit Tesla’s Shanghai plant, Reuters said. Last Thursday, Tesla and Ford announced a partnership giving Ford owners access to Tesla Superchargers.
Coinbase — Shares gained 4% in premarket trading. On Tuesday, Atlantic Equities upgraded Coinbase to overweight from neutral. Analyst Simon Clinch maintained his $70 price target, implying 23% upside from Friday’s close.
Nvidia — Shares continued to near $1 trillion in market value, up 3.7% in premarket trading. The artificial intelligence semiconductor company has been soaring since its blockbuster earnings report last Wednesday.
C3.ai — AI stocks built on their post-Nvidia earnings gains, with C3.ai up 8.7%. UiPath gained 6.4% and Palantir Technologies was ahead 6.2%. C3.ai reports its next quarterly results Wednesday.
Advanced Micro Devices — Semiconductor stocks continued to move higher after Nvidia’s earnings last week. AMD added 3.4%, Qualcomm gained 2% and Broadcom was 1.8% higher. Intel, which initially dropped on Nvidia’s earnings, gained 3%.
Paramount Global — The media stock rose 2.4% Tuesday morning, extending a gain of nearly 6% from Friday. The company’s majority shareholder National Amusements announced a $125 million preferred equity investment from BDT Capital Partners last week.
— CNBC’s Jesse Pound, Tanaya Macheel and Yun Li contributed reporting.
