In the list of companies demonstrating significant stock price movements, the first company is Tesla. The data shows that the share prices for the electric car manufacturing giant have experienced a 0.8% rise in premarket trading. The company has experienced a rise despite the sell-off it carried out in the broader market. The company reportedly experienced a rise after sharing its deliveries report for the third quarter of 2021. The company announced that in the third quarter of 2021, it successfully delivered 241,300 vehicles.
The company revealed that it managed to continue with its streak of delivering a high volume of vehicles despite the semiconductor shortage. The company revealed that it also faced a delay in the productions of the vehicles, but it still managed to hit its goal. For Tesla, the year 2020 had turned out to be a blockbuster, in terms of sales and stock price growth. Despite the shortage of semiconductors, Tesla has still managed to achieve a 10% increase in its stock prices from year to date.
Next are the drug-making companies including Merck, Novavax, and Moderna. The data shows that the share prices for Merck have experienced a rally while the share prices for the other two drugmakers have experienced a drop. This is because of the COVID-19 pills that Merck has introduced and since their discovery, these pills have created hype. The data shows that the share prices for Merck have experienced a 2.1% rise. On the other hand, the share prices for Novavax have experienced a 1.8% drop, while Moderna has also experienced an almost 4.5% drop. It is being speculated that the share prices for all major drugmakers, especially, the ones making vaccines for COVID-19 would be negatively impacted by Merck’s new pills.
Then there are shares for Southwest Airlines that have experienced a rise after such a long time. Since the pandemic, the share prices for almost every airline company had been met with demise. However, with the recent developments involving Merck’s successful testing of COVID-19 pills and travel bans being lifted off, the airline sector is making a comeback. As a result, the analysts from the investment and research firms have started changing the statuses of the airline companies. Southwest Airlines also had its stock status upgraded by investors from Barclays. The data shows that the share prices for Southwest Airlines have risen 1.3%. It happened after Barclays updated the status of Southwest Airlines from “equal weight” to “overweight”.
Southwest Airlines is not the online airline company that has observed a rise in share prices. The reports reveal that the share prices for the North American airline shave also experienced a positive trend. According to reports, one of the major analysts from Barclays, Brandon Oglenski went ahead upgrading the status of Southwest Airlines. The analyst has reported upgraded the status of Southwest Airlines from “neutral” to “positive”.