In the list of companies making huge stock price moves, the first company is Penn National Gaming. The company has reportedly experienced an 8.5% rise in its share prices. This is mainly because of the recent announcement made by Merck, a drugmaker that was reportedly running its tests on COVID-19 pills. Merck reported after successful testing that the pills it has made have the tendency of reducing the risks of death/hospitalization by 50% for coronavirus patients. The company is now waiting for emergency authorization of the pills so they can be distributed globally. With the pills all over the world, people will have 50% fewer chances of getting hospitalized due to COVID-19. This is eventually going to bring back crowds to entertainment places that used to be crowded in the past.
The next company on the list is Hilton Worldwide that is also profiting from the recent announcement made by Merck about the successful pills. As a result of the announcement, the share prices for Hilton Worldwide have experienced 4.5% in premarket trading.
Norwegian Cruise Line is the next company on the list that has reportedly experienced a 5.9% rise in stock prices. The tourism and cruising company has also benefited from the recent announcement made by the drug maker Merck about the COVID-19 pills.
The next company on the list is Lordstown Motors that has experienced a huge plunge with respect to its share prices. The data shows that the stock prices for Lordstown Motors have plunged 18.3% in premarket trading. This is because the company has announced that it has signed a deal with Foxconn worth $230 million. Following the deal, Foxconn will purchase Lordstown Motors’ Ohio manufacturing plant for its iPhone parts assembly. Initially, when the news of Lordstown Motors’ sell-off reached the public, its stock prices experienced an overall 21% rise in share prices. However, as soon as the deal was concluded and Foxconn acquired the particular facility, the company’s stock prices ended up experiencing a drop.
The next company on the list is Zoom that has reportedly experienced a rise in its share prices. The data shows that the share prices for Zoom experienced a 2.3% rise in premarket trading. This is because it was confirmed that the deal between Zoom and Five9 fell through. Initially, it was reported that the deal between Zoom and Five9 was almost at the last phase where Zoom was going to purchase it for $14.7 billion. However, the deal did not finalize as the Five9 shareholders did not go with it. Therefore, both companies ended the deal with mutual understanding. Following the split, the share prices for Five9 have also experienced a 4.7% rise.