Tesla shares dropped nearly 3% to $286.96 in Monday’s pre-market session. The decline followed a warning from President Donald Trump to CEO Elon Musk about potential “serious consequences” if Musk chooses to support Democratic candidates opposing the GOP’s budget bill. Children’s Place also saw a significant downward trend, with shares tumbling over 24% to $5.21.
The company reported weaker-than-expected results for its first quarter after the close of business on Friday. Namib Minerals experienced a 19.9% dip to $25.00 in pre-market trading. This comes after an 82% surge on Friday, suggesting a correction in investor sentiment.
Opendoor Technologies fell nearly 13% to $0.5922. The company recently filed a preliminary proxy statement for a special meeting on July 28, seeking shareholder approval for a reverse stock split with a proposed ratio of 1-for-10 to 1-for-50.
Robinhood falls in a cautious market
EchoStar Corporation’s shares dropped 10% to $15.74 following an 8% decline on Friday. Liminatus Pharma saw a 5.1% decrease to $22.98. The company’s shares were regaining compliance with the Nasdaq last week, which may have initially boosted investor confidence.
Robinhood Markets experienced a 5.1% drop to $71.05 after a 3% gain on Friday. AppLovin Corporation also saw a 5.1% decline to $396.20 in pre-market trading. Plug Power shares declined 4% to $0.9310.
The company has filed for the resale of 55 million shares of common stock. This trend across various stocks suggests a cautious sentiment among traders as the markets open on Monday. Investors are closely watching these movements and their potential impact on the broader market.
