Why Phoenix Motor Shares Are Trading Higher By 150%; Here Are 20 Stocks Moving Premarket

Shares of Phoenix Motor Inc. (NASDAQ:PEV) rose sharply in today's pre-market trading after the company reported a year-over-year increase in first-quarter financial results.

Phoenix Motor reported adjusted earnings of 44 cents per share, versus a year-ago loss of 13 cents per share. The company reported $9.40 million in sales this quarter, representing a 427.79% increase over sales of $1.78 million the same period last year.

Phoenix Motor shares jumped 150.2% to $0.8719 in the pre-market trading session.

Here are some other stocks moving in pre-market trading.

Gainers

Vicinity Motor Corp (NASDAQ:VEV) rose 47.5% to $0.2099 in pre-market trading.
Biodesix, Inc. (NASDAQ:BDSX) rose 33.7% to $2.26 in pre-market trading.
Nuburu, Inc. (NYSE:BURU) gained 24.1% to $0.5582 in pre-market trading.
Nano Labs Ltd (NASDAQ:NA) gained 20.8% to $0.8695 in pre-market trading after declining 10% on Thursday. Nano Labs recently announced its CEO purchased 1,107,935 Class A shares with his personal funds.
OneConnect Financial Technology Co., Ltd. (NASDAQ:OCFT) shares rose 16.7% to $2.80 in pre-market trading after declining around 11% on Thursday.
Summit Therapeutics Inc. (NASDAQ:SMMT) shares jumped 13.4% to $21.10 in pre-market trading after the company announced completion of enrollment in its Phase III HARMONi trial in 2L+ EGFRm NSCLC.
Azitra Inc (NYSE:AZTR) shares surged 12.8% to $0.5640 in pre-market trading.
UP Fintech Holding Limited (NASDAQ:TIGR) shares gained 12% to $10.29 in pre-market trading after jumping around 14% on Thursday.
Snail Inc (NASDAQ:SNAL) shares gained 10.6% to $0.83 in pre-market trading after declining around 4% on Thursday.

Losers

Spirit Airlines, Inc. (NYSE:SAVE) shares dipped 39.7% to $1.35 in pre-market trading. Spirit Airlines is reportedly in discussions with bondholders regarding the terms of a potential bankruptcy filing. The budget airline is exploring restructuring options following a failed merger with JetBlue Airways.
Cemtrex, Inc. (NASDAQ:CETX) fell 25% to $1.92 in today's pre-market trading after dipping 51% on Thursday.
AgEagle Aerial Systems, Inc. (NYSE:UAVS) shares fell 20.7% to $0.0961 in pre-market trading. AgEagle Aerial Systems announced a reverse stock split of 1-for-50 shares of common stock.
Avinger, Inc. (NASDAQ:AVGR) fell 19.4% to $1.04 in pre-market trading after jumping 24% on Thursday.
Renovaro Inc. (NASDAQ:RENB) fell 14.4% to $0.4292 in pre-market trading after jumping 9% on Thursday.
SOBR Safe, Inc. (NASDAQ:SOBR) declined 13.2% to $3.82 in pre-market trading after dipping around 29% on Thursday. The company provided updates on its opportunity for expansion across India, Italy, and Australia.
Neo-Concept International Group Holdings Limited (NASDAQ:NCI) shares declined 12.9% to $0.6011 in pre-market trading after dipping around 16% on Thursday.
Color Star Technology Co., Ltd (NASDAQ:ADD) shares fell 12.3% to $0.3945 in pre-market trading after dipping around 57% on Thursday. Color Star Technology recently regained compliance with Nasdaq Minimum Bid Price Rule after maintaining $1.00 per share for 10 consecutive days.
Elevai Labs Inc. (NASDAQ:ELAB) shares fell 11.5% to $0.1168 in pre-market trading after jumping around 55% on Thursday.
ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares declined 7% to $20.17 in pre-market trading after falling around 7% on Thursday.