A Carvana used car vending machine displays vehicles in Miami on December 9, 2022.
Joe Raedle | Getty Images
Find out which companies are making headlines in the midday business.
caravan — Shares soared 10% in midday trading. The company said monday it expected exponential growth in its used electric vehicle segment as consumer demand for electric vehicles soared.
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Lucid — The luxury electric vehicle company added 3.4%. Lucid has gained more than 15% since January and around 34% since hitting its 52-week low on June 23.
medical shock wave — Shares of the medical device maker jumped 5.8% following a upgrade to overweight by morgan stanley. The Wall Street firm said consensus expectations misjudged potential catalysts that could improve sales prospects for its key product.
DraftKings — The sports betting stock rose by 6.6%. Jefferies included DraftKings on its list of stocks that should benefit as it nears profitability and highlighted the company’s efforts to penetrate “a critical mass of states.”
How are you – Shares of the Mediterranean restaurant chain rose more than 9% on Monday after JPMorgan launched the cover of Cava with an overweight note. The investment firm said the newly public Cava has the business model and market opportunity to grow rapidly over the next decade and a half.
Icahn Enterprises — Shares jumped 17.6% after the company said in a filing he changed the terms of Carl Icahn’s personal loans to separate them from the market price of his company’s stock. The issue was highlighted by short seller Hindenburg in a research note, which sparked a selloff in the stock.
Fisker – Fisker rose 2% after the electric vehicle maker announced it was issuing a $340 million convertible note offering. Fisker said it plans to use the capital for general corporate purposes, including a range of additional batteries and other products.
Novavax — The biotechnology stock gained 25%. On Friday, the company disclosed in a securities filing that he would receive $350 million from Canada for unused Covid-19 vaccines.
– CNBC’s Jesse Pound, Sarah Min, Yun Li and Samantha Subin contributed reporting.
