Trump Media, Tesla, Citigroup rise premarket; Super Micro falls

Investing.com -- US stock futures soared higher Wednesday, as Donald Trump regained the White House, winning the 2024 presidential election.

Here are some of the biggest premarket US stock movers today: Trump Media & Technology (NASDAQ:DJT ) stock soared 35%, which owns the Truth Social platform, and is primarily owned by Donald Trump, soared 30%. Tesla (NASDAQ:TSLA ) stock rose 14%, with the electric vehicle giant viewed as a key beneficiary of a Trump win, as CEO Elon Musk was a major backer of the former president’s campaign. Citigroup (NYSE:C ), Bank of America (NYSE:BAC ) and Wells Fargo (NYSE:WFC ) all rose over 8% as investors waged that the new Trump presidency would result in less regulation in the banking sector. Coinbase (NASDAQ:COIN ) stock rose 13%, with the cryptocurrency exchange helped by bitcoin climbing to a record high as Trump has positioned himself as pro-cryptocurrency. First Solar (NASDAQ:FSLR ) stock fell 14%, falling along with other renewable energy firms, with Trump expected to roll back many of the climate regulations passed under President Joe Biden. Super Micro Computer (NASDAQ:SMCI ) stock fell 23% after the server equipment maker cut its guidance for the fiscal first and second quarters, even as it said an internal probe found no evidence of fraud from management or directors following concerns raised by its auditor. Rivian (NASDAQ:RIVN ) stock fell 4.6% after the EV manufacturer expected to report on Thursday its first drop in quarterly revenue since going public three years ago. Novo Nordisk (NYSE:NVO ) stock rose 2.3% after the drugmaker’s CEO said it is lifting curbs on prescriptions of its weight-loss drug Wegovy in the United States and is increasing supply in that market.

Source: Investing.com