US markets are set to open lower on Tuesday as investors fear the impact of a potential fresh raft of sanctions on Russia from the Biden administration.
Oil and Bitcoin prices are both higher, while gold is marginally lower.
Here are today’s trending stocks:
Aterian Inc (NASDAQ: ATER)
This ecommerce specialist saw its share price rocket by more than 46% on Monday and is up by a further 13% in premarket trading.
Aterian announced last week that industry veteran Cynthia Williams, who has previously held senior positions at Amazon, Microsoft and Hasbro, had been appointed to its board of directors.
However, this does not seem to be the main catalyst behind the price increase. Instead, the jump appears mainly attributable to speculation of a potential short squeeze, which is driving the share price upward as more and more investors get involved.
Gores Guggenheim Inc (NASDAQ: GGPI)
This investment firm is also in the green, with its share price having risen by nearly 12% yesterday.
The reason behind this stems from Gores Guggenheim's agreement to take EV company Polestar public through an SPAC deal. This hasn’t happened yet, but was agreed last year and is expected to take place in the first half of 2022.
GGPI stock climbed on Monday because Polestar revealed that it has partnered up with vehicle rental giant Hertz, with the company having agreed to purchase 65,000 vehicles from Polestar over the next five years.
Jumia Technologies (NYSE: JMIA)
Pan-African logistics and payment services technology outfit Jumia saw its share price climb by nearly 25% on Monday.
This followed an announcement that the company has buddied up with UPS, with the deal seeing Jumia offering its last mile logistics capabilities and infrastructure to grow the US giant’s delivery services in Africa.
Jumia’s senior vice president of logistics, Apoorva Kumar, commented:
“We are delighted and humbled by the opportunity to partner up with UPS, a global logistics leader, to offer them last mile solutions in Africa. We view this as a validation of the strength of our logistics platform as well as an incentive to double down on our efforts to further enhance our services and build a world-class logistics business in Africa.”
Guardforce AI (NASDAQ: GFAI)
This Singapore-based security and protection technology specialist is trending as its share price jumps back and forth. On Monday, the company’s stock price dropped by more than 6%, but it has rebounded by more than 12% in premarket trading this morning.
This bounce back has come as Guardforce announced that it has begun the rollout of additional features for its intelligent cloud platform powered robots in Macau. The company said this increases the usability of the robots and has also created new revenue and partnership opportunities with advertising and marketing vendors.
Essentially, large screens on the robots can display advertising, which can be controlled remotely and customized quickly. At the moment, the company has more than 200 robots deployed in Macau.
Lilium NV (NASDAQ: LILM)
This German aerospace business saw its shares climb by nearly 25% on Monday and looks set to rise again in Tuesday’s session.
Lilium, which is developing an electrically powered personal air vehicle capable of vertical take-off and landing flight, appears to be so buoyant due to confirmation that it has commenced the next stage of the testing process for its fifth generation technology demonstrator.
Lilium cofounder and CEO, Daniel Wiegand, commented:
“We are excited to have kicked off our next phase of flight testing in Spain. This step takes us even closer to reaching our goal of creating a sustainable and accessible mode of high-speed, low noise regional air mobility.”
