The stock prices for the companies continue experiencing rise and fall, but some continue either perform better than the rest or worse than the rest. Therefore, it is time to talk about these companies and find out what has led to their up- and down-trend.
The first stocks are for Casinos that have experienced significant losses in premarket trading. It has happened for two days in a row that the stock prices for the casinos have experienced a drop. This is because of the aggressive scrutiny by the Macau government. The reports suggest that the drop was experienced as a result of the rise in COVID-19 cases reported by the health authorities in China. The reports have talked about three major casinos that have experienced a drop in their share prices. The first casino is Las Vegas Sands that has experienced a 2% share price drop. The second casino is MGM Resorts that have to follow Las Vegas Sands’ lead. The last one is Wynn Resorts that has experienced a 6% drop in share prices.
The next company on the list is EOG Resources that has experienced an 8% rise in its share prices. EOG is a production and exploration company that has benefitted from a rally in the prices of commodities in premarket trading. The data shows that almost every company in the energy sector of the S&P 500 has experienced a rise of at least 1%. The reports show that over a 7% increase has been recorded by companies such as Marathon Oil and Diamondback Energy. As per stock reports, the prices of West Texas Intermediate crude futures have experienced a 3% rise. Similarly, the prices for Occidental have also experienced a 6% spike in premarket trading.
The next company on the list is Just Eat Takeaway that has reported a 4.5% rise in its share prices. The food delivery company has experienced a drop in its share prices due to the recent announcement made by Deliveroo and Amazon. Both companies recently announced that they were forming a partnership with each other. Following their partnership, both companies will be offering free deliveries to their customers who are Prime members of Amazon.
The next company on the list is SoFi that has experienced a 6.5% rise in its share prices. The rise was observed following rising in stock price speculation by a team of analysts from Mizuho. The analysts at Mizuho have updated the status of the company to the “buy” category and they have set the share price estimation for SoFi at $28 per share. The firm has revealed that it is recording a significant rise in its sales, profits, and revenues, which is a positive thing for the firm.