The new COVID strain was the biggest driver in the markets on Friday as we saw the travel and hospitality industry slump lower as fears of additional lockdowns came into the market. If it will be short-lived is up for debate as there are no real data that is known just yet in the early stages.
- Moderna Inc (MRNA) was up 20.57% rallied on vaccine development plans for Omicron variant
- Pinduoduo Inc (PDD) was down 15.86% following a miss on third-quarter revenue expectations
- Royal Caribbean Cruises (RCL) was down 13.22% as COVID variant fears come into the market
- Expedia Group (EXPE) was down 9.48% as COVID variant fears come into the market
Earnings due today:
Li Auto LI Pre-Market
Stocks to watch:
Li Auto (LI)
Li Auto had its earnings due during the Pre-Market this morning, Earnings expectations were missed by $0.07 however revenue beat expectation by $80M as well as experiencing 209.7% growth year on year.
The company is expected to deliver between 30 000 and 32 000 new vehicles during the 4th quarter. Price is currently up 7.53% during the pre-market as we’re trading just shy of the $35 levels.
Given a break of the $35 resistance which is the top of the current daily range that price has been trading in, we may see potential upside to all-time high levels of $43 over the coming months if the electric vehicle manufacturer does deliver on its fourth-quarter projections.