One of the largest tech companies globally, Facebook shows signs of growth in the share prices. The data is revealing that Facebook has experienced a rise in premarket trading. It was on Monday, October 4, 2021, when Facebook’s share prices had experienced a 5% drop in premarket trading. Following the drop, Facebook has demonstrated a 1.1% increase in share prices. As known already throughout the world, Facebook experienced a share price drop due to an outage that lasted for 6-hours. Another major setback came for the tech giant in the form of a whistleblower, whose report was covered in the “60 minutes” report. Due to these major factors, Facebook’s share prices had experienced a drop.
Tesla comes next on the list experiencing a 1% rise in share prices in the premarket trading. Although the reason was quite unusual, yet it helped the company gain a 1% increase in share prices. The company reportedly ended up paying Owen Diaz around $137 million, who was formerly working as an employee at Tesla. Diaz had filed a case against Tesla for its hostile environment for working. Diaz also revealed that the company is also involved in making many remarks that are racist in nature. These comments have been one of the main reasons why the environment at Tesla is so hostile.
It was the federal court of San Francisco that proceeded with ruling the decision in favor of Diaz’s attorneys. The sources have also revealed that the court has instructed Tesla to pay up more to Diaz than what was requested by Diaz’s lawyers.
Up next, there is Albertsons, which is a famous operator for supermarkets that has experienced a drop in share prices. Albertson’s stock prices have reportedly experienced a 4% fall in premarket trading. Albertson’s share price loss is a result of the stock status downgrade conducted by the BMO capital for the supermarket operator. The analysts at BMO Capital have reportedly downgraded the stock status of Albertsons from “market perform” to “underperform”. The reason why BMO Capital analysts have made the move is because of the price-sensitive consumer environment and increasing wage costs.
Veoneer is the next company that has experienced a 1% fall in share prices. The fall has been observed following an announcement emerging in regards to the acquisition of the company. The reports reveal that SSW Partners, an investment firm will soon be proceeding with the acquisition of Veoneer. Following the acquisition of Veoneer, SSW will proceed with making a deal with Qualcomm (QCOM). As part of the deal between SSW and Qualcomm, SSW will sell the driving platform and the sensor business that it would have acquired from Veoneer, over to Qualcomm.