Trending tickers: Tesla, Nvidia, Pfizer and Superdry

Pedro Goncalves

Tesla shares were lower in pre-market trading after dropping over 8% during Thursday’s session as the company’s share of US electric vehicle sales slid below 50% for the first time.

Elon Musk’s group saw its share in the battery-run car market fall to 49.7% in the second quarter, down from 59% a year earlier, according to Cox Automotive, a car services and data group.

Investors were also spooked after Tesla said it was postponing its planned robotaxi unveiling to October to allow teams working on the project more time to build additional prototypes.

The delay has been communicated internally to Tesla employees but has yet to be announced publicly, Bloomberg reported.

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In its last earnings report, Tesla said the robotaxi will be “purpose built”, which is a term used in the autonomous vehicle industry to describe vehicles built from the ground up to be self-driving and that often lack traditional controls like steering wheels and pedals.

Nvidia lost almost 6% in the last session and was 1% lower in pre-market trading after a “sell the news” reaction to the latest inflation figures appeared to drag on the chip maker.

Investors flocked to interest rate-sensitive stocks after the consumer price index report showed inflation fell last month for the first time since May 2020, raising the prospects of Federal Reserve rate cuts this year.

NVDA stock closed the latest trading session at a valuation of $134.91 after adding 2.68% and 10.92% in the previous five trading days.

Tech heavyweights Meta (META), Apple (AAPL), Microsoft (MSFT), and Alphabet (GOOGL) all fell more than 1%.

In 2023, the AI stock had a huge 239% run and it's up around 159% so far this year, even after the recent drop.

Shares in Pfizer were higher in pre-market trading as the pharma company announced it is moving forward with its once-daily weight loss pill.

The US pharmaceutical company said it was planning to start studies to test different doses of the experimental treatment later this year.

The drug is one of several being developed by Pfizer but the company said its once-daily danuglipron treatment was the most advanced and had the potential to be competitive in the market.

The announcement comes as Pfizer struggles to convince investors that it can find a path to growth after the COVID-19 pandemic, as sales of its blockbuster vaccine and other COVID products have plummeted.

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Mikael Dolsten, Pfizer’s outgoing chief scientific officer, said that danuglipron “has demonstrated good efficacy in a twice-daily formulation, and we believe a once-daily formulation has the potential to have a competitive profile in the oral GLP-1 space”.

Distressed fashion chain Superdry will have its last day of trading on the London Stock Exchange today, bringing its listing to an end after 14 years.

Dropping out from the London Stock Exchange will help Superdry save on cash, with the delisting will becoming effective from Monday.

The company’s ordinary shares will be admitted to trading on the JP Jenkins securities matching platform from 15 July.

The fashion business, which runs 216 shops as well as franchised stores, has been looking at various ways to save money after a year of weakening sales and deepening losses.

Plans to cut costs include the firm looking at reducing rents on 39 of its UK shops, as well as raising money through a sale of new shares.

At its peak, Superdry was valued at more than half a billion pounds, but shares have since collapsed over 97% and today is worth barely £3m.

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