Shares of Lordstown Motors (RIDE), Mesoblast Limited (MESO), Tesla (TSLA), Riot Blockchain (RIOT) among other market movers at a glance. We have highlighted below some of the reasons for the upward or downward movements.
Mesoblast Limited (MESO)
Mesoblast shares traded higher after the company said its rexlemestocel-L reduced heart attacks, strokes and cardiac deaths. The stock closed last Friday at $8.66 to open yesterday’s trading at $12.91 and closed at $11.40 which amounts for about 30.64% jump.
Churchill Capital Corp. IV (CCIV)
Despite trading in the normal range, CCIV moved 31.60% on the day. It started the day at $10.50 to close at $13.20 recording a volume of 108.17 million. It had closed Friday at $10.03. The company engages in operation of blank check firm, formed for the purpose of effecting a merger capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
Lordstown Motors Cop. (RIDE)
Shares of RIDE jumped more than 23% after the company announced 100,000+ preorders for its all-electric pickup truck for fleets. The previous day’s closing was at $21.98, started yesterday at a price of $22.38 to close the day at $27.11
Lordstown said the average order size is for nearly 600 vehicles per fleet. The Endurance is a full-size, all-electric pickup that has a range of 250 miles, the equivalent of 600 horsepower and can tow up to 7,500 pounds. The company says it is on track to start production of the truck in September 2021. The initial Endurance is a crew cab configuration with medium bed length, priced at $45,000 after federal tax credits.
Arbutus Biopharma Corp. (ABUS)
ABUS shares traded within normal range but made an upward move from Friday’s closing price at $3.87 to begin Monday at $3.91 and closed at $4.32 There was no company news but according to Investors observer, an Analyst Rating Rank of 69, meaning ABUS is ranked higher by analysts than 69% of stocks. The average projection by analysts for ABUS is $7 over the next 12 months and analyst’s classify the stock as a Strong Buy.
Riot Blockchain Inc (RIOT)
Shares of Riot dropped more than 14% on Monday from its Friday closing price of $26 to close yesterday at $22.64. The stock traded lower amid decline in the price of bitcoin.
Shares of Tesla fell on Monday, declining as much as 7.82% as potential sell-off after the stock increased roughly 23% in the last trading session. The growth stock’s decline is likely primarily due to a bearish day in the overall market. In addition, shares are taking a breather after a huge run-up since Christmas.