Premarket Movers | Data Storage Stocks Jump; Crypto Stocks Drop; Nvidia, Meta, Netflix, Berkshire, NIO Rise 1%

Tiger Newspress
Nov 03

Crypto stocks dropped in premarket trading on Monday. Strive fell 5%; SharpLink Gaming and BitMine fell 4%; Bitfarms and CleanSpark fell 3%; MARA Holdings and Strategy fell 2%; Riot Platforms fell 1%.

Crypto slid as traders positioned ahead of U.S. jobs data due later this week and digested comments from Treasury Secretary Scott Bessent suggesting that high interest rates are beginning to strain parts of the economy.

Bitcoin traded around $107,163, down roughly 3.1% over the past 24 hours, while Ethereum slipped about 5.5% to near $3,7050, data shows.

Major tokens softened across the board, with alt-coins underperforming as investors maintain a defensive stance.

Data storage stocks gained in premarket trading on Monday. SanDisk rose 7%; Micron Technology rose 3%; Western Digital rose 2%.

Big tech stocks gained in premarket trading on Monday. Meta, Netflix, and Nvidia rose more than 1%.

NIO achieved a new monthly delivery record last month as its main brand resumed growth while both sub-brands set new highs. Goldman Sachs has raised its price target for NIO, believing the Chinese EV maker will replicate this year's product strategy to drive further sales growth. NIO shares rose 1.4% in premarket trading on Monday.

Berkshire Hathaway signaled on Saturday that it remained cautious about markets, letting cash swell to a record $381.7 billion even as profit rose, in its last financial report before Warren Buffett bows out as chief executive. Berkshire Hathaway Class B Stock rose 1.3% in premarket trading on Monday.

fuboTV will release its quarterly earnings report on Monday. The shares gained 4.2% ahead of its earnings.

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