PLCE - Hot Stocks: NFLX upgrade; ASTS launch plan; PLCE slips on earnings; KNTK secondary offering
Netflix (NASDAQ:NFLX) ranked among the notable performers in Wednesday's midday trading, rallying after Wedbush removed its bearish stance on the stock. AST SpaceMobile (NASDAQ:ASTS) also showed intraday strength, as a deal to send its satellites into orbit sparked a rally of over 40%. Looking to the downside, Children's Place Retail Stores (NASDAQ:PLCE) suffered a midday slump after its revenue figure failed to meet expectations. Meanwhile, the pricing of a secondary offering prompted a selling spree in Kinetik (NASDAQ:KNTK). Gainers Netflix (NFLX) showed a 5% advance in midday trading as Wedbush declared "hell freezes over" by upgrading the stock. Analyst Michael Pachter argued that the streaming video service had evolved into a "low-growth, extremely profitable enterprise," leading him to raise his rating from Underperform to Neutral. In other news, shares of AST SpaceMobile (ASTS) skyrocketed more than 44% higher after announcing a partnership with SpaceX (SPACE). The company, which is building
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Hot Stocks: NFLX upgrade; ASTS launch plan; PLCE slips on earnings; KNTK secondary offering