Coinbase and other crypto stocks falls as Bitcoin trades below $20,000.
Michael Nagle/BloombergThe stock market was taking a hit Thursday morning as the end of a brutal second quarter comes to a close. S&P 500 futures were down 1.4%. Here are some of the stocks making moves in premarket trading Thursday.
Cryptocurrency-related stocks were dropping after the price of Bitcoin fell below $20,000 and was set to record its biggest quarterly drop in a decades. Coinbase Global (COIN) fell 5%, Riot Blockchain (RIOT) declined 4.2% and Marathon Digital Holdings dropped 5.5%.
Walgreens Boots Alliance (WBA) was down 3.1% after the retail pharmacy chain posted a third-quarter earnings beat but profit that fell from a year earlier.
Carnival (CCL) fell 3.6% Thursday after closing 14.1% lower on Wednesday. Morgan Stanley cut its price target to a Wall Street-low, saying the stock could lose all of its value.
RH (RH) was down 6.7% after the home-furnishings retailer cut its revenue forecast due to slowing demand amid rising mortgage rates.
Duck Creek Technologies sank 16.3% after the software-as-a-service solutions provider cut its fiscal 2022 revenue outlook.
Upstart Holdings was 4.3% lower, one day after an analyst from Morgan Stanley lowered his rating on the lending platforms stock to Underweight from Equal-Weight and cut his price target to $19 from $88.
Write to Angela Palumbo at angela.palumbodowjones.com
