Kohl’s, Krispy Kreme, Rocket Companies, Lockheed Martin, and NIO are catching the interest of investors.
This is where they were trading premarket at 7 a.m. ET Wednesday — and what’s driving the moves.
1. Kohl’s
The move: The department store giant was down 0.4% to $14.29 after jumping about 38% by the close on Tuesday.
Why: The stock surged after chatter on WallStreetBets Reddit thread about Kohl’s stock’s high short interest, which prompted retail investors to pour in.
2. Krispy Kreme
The move: The doughnut chain soared almost 20% to $4.96 per share, bringing total gains since the beginning of the week to over 50%.
Why: Discussions across Reddit, X, and other platforms about a potential short squeeze have fueled interest in Krispy Kreme, despite its first quarter results, its most recent, showing a 15% decline in revenue year-on-year.
3. Rocket Companies
The move: Rocket Companies surged more than 6% to $17.07 per share following an increase of about 6% on Tuesday.
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Why: The Detroit-based financial services firm is set to announce its results for the second quarter next week. Analysts expect the company to report a boost in earnings after closing its acquisition of Redfin.
4. Lockheed Martin Corporation
The move: The American defense and aerospace manufacturer was up nearly 1% to $414.05 a share after falling 11% by Tuesday’s close.
Why: Lockheed Martin reported an 80% fall in profits in its second quarter on Tuesday. It said it lost $1.6 billion to pretax charges connected to a classified defense program.
5. NIO
The move: The Shanghai-headquartered, NYSE-listed EV maker rose 4% to $5.20 a share, having shot up almost 11% on Tuesday.
Why: Shares rose after the company started letting Chinese customers test drive a new SUV on Tuesday. The car is to officially launch at the end of July.