Stocks making the biggest premarket moves: ChargePoint, Ford, Nvidia, Tesla and more

ChargePoint:

Pre-market trading saw a notable 5% increase in the shares of ChargePoint, the electric vehicle charging station company, following its upgrade to a buy rating by Bank of America. The Wall Street firm recognizes ChargePoint as an exceptional choice for capitalizing on the growing EV charging sector, highlighting the company's extensive scale and diverse offerings as crucial factors for sustainable growth.

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Ford Motor:

Jefferies' upgrade of Ford Motor resulted in a more than 2% rise in the automaker's shares. The analysis suggests that Ford possesses a robust strategy and capable management, positioning it to narrow the gap with its competitors. Furthermore, the analyst raised the price target on the shares, implying a potential rally of over 30%.

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Tesla:

Tesla experienced a 3% gain in pre-market trading. According to Reuters, CEO Elon Musk's private jet arrived in China, where he is anticipated to meet senior Chinese officials and visit Tesla's Shanghai plant. Notably, Tesla and Ford recently announced a partnership that grants Ford owners access to Tesla Superchargers.

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Coinbase:

Pre-market trading for Coinbase saw a 4% increase in its shares. Atlantic Equities upgraded Coinbase from neutral to overweight, while analyst Simon Clinch maintained a price target of $70, indicating a potential 23% upside from Friday's closing price.

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Nvidia:

Nvidia's shares continued their ascent in pre-market trading, nearing a market value of $1 trillion with a 3.7% increase. The AI semiconductor company has been experiencing significant growth since its remarkable earnings report the previous Wednesday.

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C3.ai:

Building on the post-Nvidia earnings gains, AI stocks demonstrated further growth, with C3.ai rising by 8.7%. UiPath gained 6.4%, and Palantir Technologies advanced by 6.2%. C3.ai is scheduled to report its next quarterly results on Wednesday.

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Advanced Micro Devices:

Semiconductor stocks maintained their upward trajectory following Nvidia's earnings report last week. Advanced Micro Devices (AMD) experienced a 3.4% increase, Qualcomm gained 2%, and Broadcom rose by 1.8%. Intel, which initially faced a drop in response to Nvidia's earnings, rebounded with a 3% gain.

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Paramount Global:

During Tuesday morning trading, the media stock of Paramount Global witnessed a 2.4% increase, extending the gain of nearly 6% observed since Friday. The majority shareholder, National Amusements, announced a $125 million preferred equity investment from BDT Capital Partners in the previous week.

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