Pre-market trading in US stocks | FFIE plunges followed by a sharp rise! Technology stocks and Chinese concept stocks almost all decline

U.S. Stock News

1. Faraday Future clarifies the change in total share capital: The company's total share capital has increased from over 40 million shares to over 400 million shares. The "tenfold increase overnight" is due to technical reasons for the delayed release of the annual report, so the brokerage platforms are unable to update the latest data.

2. Alibaba announced that the company has completed the issuance of $5 billion in senior convertible bonds. This amount includes the full exercise of the initial purchasers' option to purchase notes with a total principal amount of $500 million. Earlier, Alibaba announced plans to issue $4.5 billion in convertible notes with a 0.5% coupon rate.

3. According to a Xiaomi spokesperson's Weibo post: Xiaomi has never had any plans or actions to acquire or control Evergrande Auto.

4. The General Manager of Baidu's e-commerce division stated that over the past five months, Baidu's GMV for Baidu Youxuan has grown by 227% year-on-year.

5. According to Bloomberg, renewable energy developer Brookfield is in talks to acquire approximately 53.3% of French renewable energy developer Neoen at a price of €39.85 per share.

Pre-market Movement

In pre-market trading, U.S. stock index futures are down, while the fear index is rising.

Bitcoin is currently trading at $67,657, slightly down in the past 24 hours; Ethereum is trading at $3,726, down over 2% in the past 24 hours.

Apart from Faraday Future, meme stocks are sharply down in pre-market trading, with declines in tech stocks, Chinese concept stocks, and cryptocurrency-related stocks.

FFIE initially dropped over 18%, then surged over 19%, and is currently up around 6%; CRKN dropped over 6%, AMC Entertainment fell nearly 3%, and GameStop (GME) dropped nearly 2%.

NVIDIA dropped over 1%, while Tesla, AMD, Microsoft, Meta, and Amazon are down, with Apple slightly up.

XPeng, Li Auto, and Baidu are down over 1%, while Alibaba, JD.com, NIO are down nearly 1%, and Pinduoduo, NetEase are down, with Bilibili slightly up.

MSTR, MARA, COIN are all slightly down.

In individual stocks, Salesforce plummeted by 16%, dragging other software stocks lower, with ServiceNow down over 4%, SAP down 3%, Oracle down 2.7%, and Adobe down over 1.8%.

OneMedNet surged 44% at one point, currently up 26%, after signing an agreement with a medical technology company.

Pure Storage is up 12%, with Q1 revenue growth exceeding expectations and losses narrowing year-on-year.

HP is up over 5%, with better-than-expected second-quarter performance and an upward revision of full-year EPS guidance.

Strategy Review

1. NVIDIA's "Leveraged ETF" is going crazy!

Speculative sentiment is spreading in the market, and the creators behind these leveraged ETFs are preparing to launch more new options-driven strategies covering various assets from gold and large-cap tech stocks to Bitcoin. Will Rhind, CEO of GraniteShares, pointed out that NVIDIA is gradually becoming the new Tesla 2. NVIDIA joins forces with NASDAQ to surge: Is the next "Stock King" emerging globally?

How far is NVIDIA from becoming the "Stock King"? It's just a matter of time! NVIDIA's stock price has already risen by 130% this year, but its performance growth is still rapid, with a high chance of further increase.

3. Dell, about to release its earnings report, with a monthly increase of 43%, surpassing NVIDIA as the "New Darling" of AI

Dell is benefiting from the wave of data center infrastructure upgrades. With the launch of AI PCs driving growth, the company will also benefit from the PC replacement wave. Additionally, considering the potential positive factors such as Dell's possible inclusion in the S&P 500 index weight stocks, Dell is currently still an undervalued stock