Stock Price Movement of Tilray, Rivian, and more Companies
Tilray Stocks Surged by 2.1%
The share prices for Tilray have reportedly experienced a 2.1% surge in the premarket action. The cannabis producer experienced a surge in its share prices after sharing its earnings for the fourth quarter of 2021.
Tilray reported that the profit is generated in the fourth quarter of 2021 was much higher than the estimations made by the analysts. Although the profits were high, the generated revenue was lower than the estimations that were made by the analysts.
Tilray also made a promising announcement for its investors that must have made them really happy. The Cannabis producer announced that it had recently formed a deal with Whole Foods, which is a major supermarket chain.
Tilray announced that following the deal, it will be delivering its hemp powders over to the supermarket chain, and its products will be sold from there. Manitoba Harvest, a subsidiary of Tilray will be the company providing Whole Foods with the hemp powders.
Rivian Shares Uplifted by 1.7%
The share prices of Rivian have experienced a significant surge in post-market trading. The rise was recorded after Rivian talked about achieving its old target for the production of electric vehicles in the running year.
At the beginning of 2022, Rivian announced it would be able to produce 25,000 electric vehicles in the running year. However, in the light of high inflation rates, supply chain shortages, and delays, the target was lowered.
However, the executives at Rivian have confirmed that their productions have been significantly higher than they had predicted. They are confident that they will be able to meet the target of producing 25,000 electric vehicles in the running year.
Occidental Petroleum Experienced a 1.7% Surge
The share prices of Occidental Petroleum reportedly went up by 1.7% in the post-market action. The share prices for the energy company experienced a surge after the analysts at Stifel Financial set its stock rating to “buy”.
According to the analysts at Stifel, Occidental Petroleum has remained one of the most attractive and affordable stocks in the stock exchange market despite being able to double its worth in the 12-month period. Although the carbon business has been highly unappreciated, Occidental Petroleum has managed to achieve a strong investor base.
Intel Shares Dipped by 1.1%
In the premarket trading, the share prices for Intel ended up experiencing a 1.1% downfall. The share prices for Intel experienced a dip after it announced that with immediate effect all business operations being run by Intel in Russia were suspended.
The announcement by Intel follows another announcement it had made the last month, where it suspended the supply of chips to Russia.