Stocks Making The Biggest Premarket Moves: Netflix, Roku, Sunpower, Beyond Meat And More

Take a look at the companies generating significant market attention during premarket trading.

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Roku— The streaming provider experienced a 2% increase prior to the commencement of trading. Yesterday, the company announced a strategic collaboration with Shopify, enabling users to make purchases directly through Roku TV.

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Beyond Meat— The plant-based meat alternative saw a 2% rise on Wednesday morning. The company revealed that its steak product will now be available in approximately 14,000 stores across the United States, including prominent retailers like Whole Foods and Wegmans. Beyond Meat shares enjoyed a 4% surge during the previous session.

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SunPower— The solar power company witnessed an impressive surge of nearly 6% in premarket trading following an upgrade by Raymond James. The firm asserted that the recent weakness observed in SunPower's stock was disproportionate and excessive.

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Carvana— The automotive retailer climbed approximately 2% after receiving an upgrade to an outperform rating by JMP on Wednesday morning. Analyst Nicholas Jones highlighted that Carvana may be on the verge of a growth resurgence, thanks to its sustainable positive EBITDA performance.

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Netflix— The renowned streaming giant registered a modest 0.4% increase on Wednesday morning subsequent to UBS raising its price target for Netflix to $525 per share, implying a potential upside of nearly 20%. Netflix is scheduled to report its quarterly results on July 19.

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Holley Inc.— The automotive parts company experienced a remarkable surge of over 15% after Bank of America upgraded its rating to buy. The upgrade was driven by the bank's observation of improving sales momentum and enhanced sourcing. JPMorgan Chase also raised its rating from neutral to overweight.

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Stellantis— The vehicle manufacturer achieved a 2% gain after Bank of America upgraded its rating to buy. The bank noted that Stellantis could enjoy an advantage over its peers due to its significant exposure to the U.S. market.

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