Dogecoin, GameStop, AMC, Beyond Meat: What to Watch When the Stock Market Opens Today – The Wall Street Journal

December 14, 2021 by No Comments

Stock futures edged lower ahead of the Fed’s two-day policy meeting, which is expected to end with the central bank signaling a quicker road to tighter policy. Here’s what we’re watching in Tuesday’s trading:

  • Cryptocurrency dogecoin jumped 34% from its level on Monday at 5 p.m. ET after Tesla chief Elon Musk tweeted “Tesla will make some merch buyable with Doge & see how it goes.” Tesla shares were down 2.1% premarket.
  • Flagship names of the meme stock craze were extending losses premarket after closing down sharply on Monday. GameStop shed 3.7% premarket after closing down 14%. AMC Entertainment fell 5.9% ahead of the bell, building on Monday’s 15% drop.
  • Beyond Meat added 5% premarket. Piper Sandler lifted its rating and price target for the plant-based meat company’s stock.
  • MGM Resorts International edged down 0.5% premarket. The casino operator is selling the operations of the Mirage casino on the Las Vegas Strip to focus on growth areas.
  • Claros Mortgage Trust added 4.5% off hours. The commercial real estate finance company said it experienced a jump in origination activity during the third quarter.
  • Skillsoft  and  Hexo  are among the companies reporting earnings Tuesday.
Chart of the Day
  • Losses for GameStop and AMC Entertainment on Monday dealt a blow to the legions of individual investors who have banded around the two stocks and frequently tout them on social media.

Write to James Willhite at [email protected]



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