24H|Baidu Rises 2%; Alibaba, XPeng, NIO Fall 1%; QUBT, QBTS Decline 2%; Tesla Drops 1.4%; Bakkt Holdings Plunges 31%

Tiger Newspress
03-18

Chinese ETFs and ADRs mixed in overnight trading. Baidu, KE Holdings Inc. rose 2%; Hesai Group rose 1%; Alibaba, XPeng Inc., NIO Inc. fell 1%.

Quantum computing stocks fell in overnight trading. Quantum Computing Inc., SEALSQ Corp, D-Wave Quantum Inc. fell 2%.

AMC Entertainment rose 3% in overnight trading; BJ's Wholesale Club Holdings Inc., Pinterest, Inc. rose 4%.

Tesla shares dropped another 1.4% in overnight trading after sinking about 5% on Monday. Tesla raised the starting price of the long-range version of the facelifted Model Y in China, a rare move in a market where competition is fierce.

Lucid shares gained 1.4% in overnight trading after rising 3.4% on Monday. Morgan Stanley upgraded Lucid to Equal Weight from Underweight with a $3 price target.

Luminar Technologies shares jumped another 9% in overnight trading. The shares surged 27% on Monday after former NASA scientist Mark Rober test-drove a car equipped with the company’s lidar technology in a YouTube video and said it outperformed Tesla Inc.’s Autopilot feature.

Bakkt Holdings shares plummeted 31% in overnight trading after disclosing that Bank of America will not renew its commercial agreement with the crypto platform when it expires on April 22.

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