Here are some of the bigger and more active stocks in premarket trading on Tuesday:
Stock gainers:
Etsy Inc.
ETSY,
shares rose 3.6% after Piper Jaffray analysts reportedly upgraded the e-commerce marketplace to overweight from neutral.
Stock decliners:
AMC Entertainment Holdings Inc.
AMC,
stock fell 27% in premarket trading after the movie-theater operator said Monday that it has agreed to settle a shareholder lawsuit over a stock conversion. The settlement paves the way for AMC to convert its AMC Preferred Equity
APE,
units into shares of common stock, proceed with a 10-to-1 reverse stock split and raise capital. APE shares are up 20%.
Shares of Virgin Orbit Holdings Inc.
VORB,
plunged 24% ahead of the open after the rocket launch provider filed for chapter 11 bankruptcy protection and said it would seek a sale. The company, majority owned by Richard Branson’s Virgin Group, said it would lay off most of its staff last week amid an inability to get funding following a failed launch in January. Shares of spaceflight group Virgin Galactic Holdings Inc.
SPCE,
fell 2.8% in premarket trading.
This post was originally published on Market Watch
