Pre-market US Stocks | NIO fell nearly 4% after earnings! Meme stocks are also plummeting

LB Select
2024.06.06 10:25
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Faraday Future Intelligent Electric fell 4% pre-market; GME rose over 2% at one point, then turned down more than 5%, now down 3%; AMC ENT fell nearly 3%, CRKN rose over 1% at one point, then plummeted 11%, now down 8%. NIO plummeted nearly 4% post-earnings, now down around 3%. Lululemon rose 10% at one point, now up 8%

U.S. Stock News

  1. According to The New York Times, U.S. federal regulators have reached an agreement to allow antitrust investigations into the dominant positions of Microsoft, OpenAI, and NVIDIA in the artificial intelligence industry. This is the strongest sign of regulatory scrutiny on this powerful technology. Sources revealed that the U.S. Department of Justice and the Federal Trade Commission reached this agreement in the past week and are expected to finalize it in the coming days.

  2. According to The Wall Street Journal, Apple is expected to introduce new artificial intelligence features at the Worldwide Developers Conference (WWDC) on June 10.

  3. TechCrunch reports that Amazon has acquired the Indian streaming service Mx Player.

  4. NIO's first-quarter revenue was 9.91 billion yuan, below the market expectation of 10.75 billion yuan.

NIO's delivery guidance for the second quarter of 2024 is 54,000 to 56,000 vehicles, a year-on-year increase of 129.6% to 138.1%; revenue guidance is 16.59 billion to 17.14 billion yuan, a year-on-year increase of 89.1% to 95.3%.

  1. Meituan's first-quarter revenue was 73.28 billion yuan, exceeding the market estimate of 69 billion yuan; adjusted net profit in the first quarter was 7.49 billion yuan, surpassing the market estimate of 6 billion yuan; net profit was 5.37 billion yuan, exceeding the market estimate of 3.86 billion yuan.

  2. According to Bloomberg, Turkey has launched an antitrust investigation into Apple's payment system.

  3. It is understood that NIO's third brand "Firefly" plans to launch its first new car in China, which is expected to debut domestically by the end of this year and then enter the European market in the first half of next year.

  4. NetEase's official Weibo account for "World of Warcraft" announced that the technical test for the deletion of characters in the Chinese mainland server "Wrath of the Lich King" will start on June 11. Through this test, "Wrath of the Lich King" is expected to officially launch within June.

Pre-market Movement

In the U.S. stock market pre-market, the three major stock index futures are mixed, with the fear index declining.

Bitcoin is currently at $70,904, slightly up in the past 24 hours; Ethereum is at $3,846, up over 1% in the past 24 hours.

Meme stocks and cryptocurrency-related stocks are down significantly pre-market, while technology stocks and Chinese concept stocks are mixed.

Faraday Future Intelligent Electric is down 4%; GME initially surged over 2%, then turned down over 5%, currently down 3%; AMC Entertainment is down nearly 3%, Crown ElectroKinetics surged over 1% initially, then plummeted 11%, currently down 8%.

Marathon Digital is down over 1%, Coinbase is down nearly 1%, Microstrategy is slightly down.

NVIDIA is up over 1%, AMD, Apple, Google are up, while Tesla, Meta, Microsoft, Amazon are down.

NIO plummeted nearly 4% after earnings, currently down around 3%; JD.com, Bilibili are down over 1%, Alibaba, Pinduoduo, Li Auto are down, XPeng is slightly up, NetEase is up over 1%.

In individual stocks, Lululemon surged 10% at one point, currently up 8%, with first-quarter net revenue exceeding expectations.

Strategy Review

1. AI Chip Stocks Rise Across the Board, What Trends Did ComputeX Show?

AMD's accelerated AI chip updates to "annual updates", mixed reviews on CoPilot+PC early feedback, GB200 configuration may become the future mainstream specification, Intel and AMD to launch a new generation of server CPUs in the second half of the year 2. NVIDIA stock split is coming! Investors holding the "AI leader" should take note

Investors who still hold NVIDIA stocks after Thursday's close will receive 9 additional shares after Friday's close, and the stock price will also adjust to reflect the split. Starting on June 10th, NVIDIA will trade at the adjusted price.

3. Announcement coming next week! For AI, Apple and OpenAI have made an "unimaginable" collaboration

According to reports, Apple will integrate ChatGPT into the iPhone's operating system, allowing OpenAI to reach hundreds of millions of Apple users, including those who may not have been willing to try ChatGPT before. However, this collaboration may mean that OpenAI can access Apple user's personal information, raising privacy and security concerns. Apple is expected to offer AI features in the form of optional services

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