Premarket Movers | Plug Power Soars 20%; Firefly Surges 16%; UiPath Pops 8%; Archer Aviation Jumps 5%; Micron Gains 4%

Tiger Newspress
Oct 06

H.C. Wainwright raised its price target on Plug Power to $7.00 from $3.00 on Friday, while maintaining a Buy rating on the hydrogen fuel cell company. The shares soared 34.6% on Friday and jumped another 19.7% in premarket trading on Monday.

Space tech firm Firefly Aerospace will acquire national security technology company SciTec for about $855 million, the company said on Sunday, just months after its Nasdaq listing, honing its portfolio at a time when U.S. military and civil programs are receiving increased investor interest. Firefly shares jumped 16.2% in premarket trading on Monday.

UiPath shares jumped 8.1% in premarket trading on Monday. The automation solutions company last week announced an array of new collaborations with Nvidia, OpenAI, Snowflake and Google.

Archer Aviation stock saw a spike in retail investor chatter late Sunday after the company’s demonstration of its Midnight aircraft in an airshow, as well as continued speculation about a potential tie-up with Elon Musk’s Tesla. The airtaxi maker’s stock surged 13.7% on Friday, and jumped another 4.8% in premarket trading on Monday.

Morgan Stanley upgraded Micron Technology from Equalweight to Overweight on Monday, raising its price target to $220.00 from $160.00. Micron shares gained 3.5% in premarket trading on Monday.

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