During the Friday session, some of the stocks actually saw an increase during the premarket such as Meta Platforms, Valneva, and Tesla. However, this was not a usual Friday session as we are only days away from the end of the year & especially the holiday season.
Tesla's (TSLA) stock increased by 1.3%, which also helped the Nasdaq exchange. This increase was due to the positive comments left by Elon Musk. According to the billionaire, he will no longer sell Tesla stocks for at least the next 2 years. This has helped the bearish pressure from Tesla to cool off and has also removed a little bit of overhang as well.
Meta Platforms increased only by 0.4% and are also a part of the Nasdaq exchange, just like Tesla. This positive movement in Meta is due to Mark's commitment to pay around $725 million. This money will be used to settle a lawsuit against the Meta Platforms.
Back in the day, Facebook had allowed Cambridge Analytica to access the personal information of Facebook users. So by paying this fine, Facebook is finally moving forward & hopefully will learn something from the hefty fine as well.
Activision Blizzard is a game studio that saw an increase of 0.2%. In this case, Microsoft has bid $69 billion to buy the video game studio. According to Microsoft, this decision will benefit the whole gaming ecosystem (gamers & gaming companies).
Valneva is a biotech company from Nasdaq and also had an increase of 3.3% during the premarket session. According to the company, it has filed with the FDA in regards to a viral disease borne out of mosquito bites. The said vaccine is developed for the chikungunya disease, which can cause joint pains and fever.
Overall, these stocks saw little gains, which is a breath of fresh air in today's economic landscape. But the real picture will become clear as we enter into 2023!