Alibaba, Arcellx And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

U.S. stock futures traded lower this morning. Here are some big stocks recording losses in today’s pre-market trading session.

• Faraday Future Intelligent Electric Inc. FFIE shares tumbled 37% to $0.2834 in pre-market trading. Faraday Future Intelligent Electric said it would defer the second delivery phase of its limited edition FF 91 2.0 Futurist Alliance. The company has pinned the delay on the supplier’s timing constraints and the time needed for additional safety testing.
• Arcellx, Inc. ACLX declined 22.3% to $27.80 in pre-market trading after the company reported clinical hold for its iMMagine-1 Phase 2 clinical program.
• WeWork Inc. WE dropped 10.5% to $0.22 in pre-market trading. WeWork stockholders approved amendment to charter to effect reverse stock split of Class A and Class C common stock at a ratio in range of 1-for-10 at Annual General Meeting.
• Bitdeer Technologies Group BTDR shares fell 7.2% to $10.59 in pre-market trading. Bitdeer Technologies Group shares jumped over 50% on Friday after the company announced a $1 million share repurchase program.
• GDS Holdings Limited GDS shares dropped 5.8% to $12.56 in pre-market trading.
• NIO Inc. NIO shares dropped 4.9% to $8.94 in pre-market trading. Nio, which earlier balked at price cuts, has warmed up to the pricing strategy. The company said it would reduce the prices of all new Nio models by 30,000 yuan ($4,200). It, however, made the free battery-swap service offer a paid option. Separately, the company began deliveries of its ET5 Touring in China.
• SIGA Technologies, Inc. SIGA shares declined 3.1% to $5.62 in pre-market trading.
• Alibaba Group Holding Limited BABA shares dropped 2.4% to $89.92 in pre-market trading following the company’s announcement of a new CEO and the continuation of its restructuring plan.

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