NVIDIA, AST SpaceMobile And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several stocks including AST SpaceMobile, Coherent Corp., Pagaya Technologies, NVIDIA Corporation, Canaan Inc., Hut 8 Mining Corp., MicroVision, and Advanced Micro Devices are recording losses in today's pre-market trading session. AST SpaceMobile reported pricing of upsized offering of Class A common stock, while NVIDIA and AMD are facing potential impact due to reports of the U.S. planning to revise its export controls on AI chips to limit China's access to advanced technologies with military applications.
June 28, 2023 | 10:30 am
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NEGATIVE IMPACT
Advanced Micro Devices shares fell 3.4% in pre-market trading due to potential new curbs on AI chip exports to China.
The potential new curbs on AI chip exports to China are likely causing uncertainty and negatively impacting AMD's share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
AST SpaceMobile shares dipped 22.6% in pre-market trading after the company reported pricing of upsized offering of Class A common stock.
The company's decision to upsize its offering of Class A common stock likely led to the dip in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
NVIDIA shares declined 4.6% in pre-market trading amid reports of the U.S. planning to revise its export controls on AI chips to limit China's access to advanced technologies with military applications.
The potential revision of U.S. export controls on AI chips, which could limit China's access to advanced technologies, is likely causing uncertainty and negatively impacting NVIDIA's share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100