GameStop, Meta Platforms fall premarket; Designer Brands, Lucid rise

Investing.com — Stocks in focus in premarket trade on Thursday, June 8th. Please refresh for updates.

• GameStop (NYSE:) stock fell 21% after the troubled announced that it had “terminated” chief executive officer Matt Furlong and appointed Ryan Cohen as executive chairman, as it attempts to boost slumping sales.

• Designer Brands (NYSE:) stock rose 5.3% after the fashion retailer announced a $100 million share repurchase plan, overshadowing a disappointing first quarter, which prompted the company to cut its full-year outlook.

• Lucid Group (NASDAQ:) stock rose 2.2% after the electric vehicle maker’s head of China operations, Zhu Jiang, said the company is preparing to enter the world’s largest auto market.

• Meta Platforms (NASDAQ:) stock fell 0.8% after EU industry chief Thierry Breton called for the tech giant to take steps to tackle content targeting children, saying its voluntary code seemed not to be working.

• Amazon (NASDAQ:) stock rose 1% after Wells Fargo initiated coverage of the online retail giant with an ‘overweight’ rating, citing the company’s recent shift to a regional fulfillment model for deliveries, which could add 30% to the share price.

• Las Vegas Sands (NYSE:) stock fell 1% after Jefferies downgraded its stance on the casino resort to ‘hold’ from ‘buy’, citing the lack of near-term catalysts.

• Tesla (NASDAQ:) stock fell 0.2% after the Spanish press reported that the electric vehicle manufacturer is in talks to build a car factory in Spain, an investment that could surpass €4.5 billion (€1 = $1.0734).