In the list of companies making huge stock price movements, the first company is Apple that may end up facing a drop in share prices. This is because the company has recently announced that it is highly likely that the company may cut the production for iPhone 13s. The company has revealed that it may proceed with cutting off the production of the iPhone 13s. The company has revealed that the number of iPhone 13 units being cut off would be as much as 10 million.
The tech giant has announced that the cutting of the iPhone 13s is due to the shortage of semiconductors. The company has revealed that just like the rest of the companies globally, it is also facing issues with the shortage of semiconductors. According to the production team at Apple, it has been confirmed that the production for iPhone 13s would be cut off by 11%.
Vimeo is the next company on the list that has experienced a 3.6% rise in the share prices in the premarket trading. The rise in the share prices was observed after it revealed that it had generated significantly higher revenue figures. The company has revealed that in the month of September alone, its revenue has experienced a 33% increase compared to the same month in 2020. The company has also revealed that compared to the year 2020, its revenue has so far increased to 16% per user and 14% in terms of subscribers on the platform.
The software company has revealed that it is experiencing a significant rise in its revenue and sales figures, which would eventually result in higher revenues for the rest of the year.
Just like the majority of the international airline companies, Sun Country Airlines is also facing a demise in share prices. The data shows that the share prices for the company have experienced a 5.7% drop in share prices in the premarket trading. The company reportedly experienced a loss after it made an announcement pertaining to its stock offering. The company revealed that at present, it has 8 million stock that is up for offer.
Sun Country Airlines teams have revealed that these shares are now up for sale from the shareholders’ end. This means that the major shareholders of the company are now moving towards selling their shares in the company. Sun Country Airlines has also revealed that it won’t be taking any proceeds from the offerings for the 8 million shares it has up for sale.
Sarepta Therapeutics is the next company experiencing a 5.8% drop in share prices in premarket trading. The company has experienced a drop after sharing guidance for the company’s earnings from the upcoming quarters. The company has revealed lower earnings figures for the upcoming quarters than what the analysts have speculated.