Premarket Movers Wednesday: Wendy’s, Workhorse, SPI Energy
Stocks fluctuated on Wednesday, the day after the S&P 500 closed just short of a record closing high.
Here are some of the top movers during Wednesday’s pre-opening trading:
1. Wendys | 0.5% increased
Wendys (WHOM) – Get the report wavered after rising to a record Tuesday as the restaurant chain entered the world of meme stocks. TheStreet.com founder Jim Cramer says the company’s Reddit-powered rally will be short-lived.
2nd group of working animals | 8.8% increased
Workhorse Group shares (WKHS) – Get the report rose as the electric vehicle maker was dragged into meme stock trading by small investors. The stock’s surge, apparently not being driven by any particular news, matches the activity of other stocks.
3. SPI Energy | Up to 40%
SPI energy (SPI) – Get the report After the Phoenix Motorcars division of the renewable energy company started series production of its third generation powertrain products for electric vehicles. The company announced that the first three units were completed at a facility in Ontario and are ready for delivery.
4. Health of the clover | 21% increased
Investing in the health of clover (CLOV) – Get the report Shares extended their Reddit fueled surge on Wednesday and are set to open at a record. The move comes when the health insurance seller, backed by venture capitalist Chamath Palihapitiya, added his name to the list of meme stock winners.
5. Lordstown Motors | 5% less
Lordstown Motors (HORSE RIDING) – Get the report Shares were lower after the electric truck maker said in a filing with the Securities and Exchange Commission that it does not have enough cash to build and sell vehicles on a large scale and that “these terms cast serious doubts our ability to emerge as an ongoing concern. “