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Wednesday, June 16, 2021

GameStop, Clear Power Fuels, Clover & extra

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An individual walks previous a GameStop within the Manhattan borough of New York Metropolis, New York, U.S., January 29, 2021.

Carlo Allegri | Reuters

Try the businesses making headlines after the bell

RH — The corporate previously often known as Restoration {Hardware} noticed its inventory acquire 6% in prolonged buying and selling after it reported that its internet revenues elevated 78% to $860.8 million within the first quarter in comparison with $482.9 million one yr in the past. The corporate additionally hiked its gross sales expectations for fiscal 2021 to a variety of 25% to 30% in comparison with a previous vary of 15% to twenty%.

Clover Health — The rally that despatched Clover refill 85% on Tuesday continued to unwind Wednesday afternoon as shares fell about 6% after the closing bell. The inventory fell 23.6% throughout the common session on Wednesday. Clover, which supplies personal medical health insurance and Medicare plans in eight U.S. states, went public earlier this yr by merging with a special-purpose acquisition firm run by enterprise capitalist Chamath Palihapitiya.

GameStop — Shares of the video-game retailer fell 7% in risky buying and selling after the bell following its first-quarter earnings outcomes and an announcement that former Amazon e-commerce exec Matt Furlong will be the company’s new CEO. GameStop, a commerce in style with retail merchants earlier in 2021, additionally mentioned its adjusted first-quarter loss per share was 45 cents on revenues of $1.28 billion.

Clean Energy Fuels — Shares of the California-based pure fuel firm continued their wild journey after the tip of normal buying and selling in New York, rising 9% within the prolonged session. The after-hours pop got here after a bout of trading mania prompted the inventory to spike 31.5% throughout the common session. The inventory closed at $13.02 per share.

Lordstown Motors — Shares of the electrical truck maker fell greater than 3% in in a single day buying and selling after a wild common session that noticed the inventory fall 20% earlier than recovering to finish the day flat. The whipsaw on Wednesday got here after Lordstown mentioned it was in talks with multiple parties to raise funds, the day after it issued a going concern warning and mentioned it did not have the funds to begin business manufacturing. The announcement got here as an about-face to some buyers, who had been keen to purchase into the corporate after it introduced final yr that it might go public via a reverse merger with a blank-check firm.

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