On this episode of Stock Movers:
- Shares of Strategy (MSTR) and other cryptocurrency-exposed stocks slipped in premarket trading after the crypto sector fell sharply on Monday, bringing fresh momentum to a wide-ranging selloff that appeared to have settled. Bitcoin slid as much as 6% to below $86,000 in early Asia trading, while Ether dropped more than 7% to about $2,800, according to data compiled by Bloomberg. Most tokens followed a similar pattern, with Solana falling 7.8%. Bitcoin later retraced some of its losses and was trading at around $86,788 at 10 a.m. in London.
- Shares of Canadian Solar (CSIQ) soared in the early session after the solar panel manufacturer is transferring the assets of its Chinese unit to Canadian ownership, to safeguard sales into the US as Washington steps up scrutiny of imports from the Asian nation. CSI Solar Co., based in Suzhou, will sell 75.1% of three overseas factories that serve the US market to its parent company, Canadian Solar Inc., the Chinese company said in an exchange filing in Shanghai. Canadian Solar, which is listed on the Nasdaq, was the world’s seventh-biggest producer of solar panels last year, according to BloombergNEF data, and was an early entrant into the booming energy storage business.
- Shares of the Walt Disney Company (DIS) edged higher ahead of the US market open after a strong weekend at the box office. Zootopia 2, an animated feature about a rabbit cop and her crime-fighting partner, brought in $156 million at the US and Canadian box office over the Thanksgiving weekend, making it the No. 1 film. The five-day haul compared with expectations of at least $125 million from industry tracker Boxoffice Pro. The film achieved the highest global opening for any animated picture in Disney’s history with a haul of $556 million worldwide. It’s the biggest animated opening of all time in China, excluding local films, the company said.
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