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Stocks making the biggest moves premarket: GME, CHWY, DLTR, WING
Check out the companies making headlines in premarket trading. GameStop — The meme stock surged 16% a day after the company’s board announced it had approved a plan to buy bitcoin and stablecoins with a portion of its corporate cash, in a move similar to that of MicroStrategy. Dollar Tree — The discount retailer gained 5% after the company announced plans to sell its Family Dollar business for $1 billion. Dollar Tree also reported fourth-quarter results on Wednesday, which saw the firm surpass analyst estimates on the top and bottom line. Playtika — Shares of the mobile gaming company jumped 13.9% following Bank of America’s double-upgrade to buy from underperform. The bank said the company has attractive features and is in an industry that is mature but still growing. Chewy — Shares rose more than 5% after the pet product online retailer posted better-than-expected revenue for the fourth quarter. Chewy posted $3.25 billion in revenue for the period, above the $3.20 billion that analysts surveyed by LSEG were expecting. The company also guided strong revenue for the current quarter, per FactSet. Wingstop — The fast-casual restaurant moved 1% higher after Wells Fargo initiated coverage of the stock with an overweight rating. The bank said Wingstop is “among the best-in-class consumer growth stories.” Tenet Healthcare — The health care stock ticked up 2.5% after Morgan Stanley initiated coverage with an overweight rating, with analyst Craig Hettenbach positing that markets are not yet pricing in “significant business model and balance sheet transformation.” TotalEnergies SE — The French energy and petroleum company added more than 2% after a Citi upgrade to buy. Analyst Alastair Syme said investors could be overlooking the company’s potential margin and and volume growth. — CNBC’s Alex Harring, Sean Conlon, Hakyung Kim and Michelle Fox contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
