Premarket trading highlights sharp moves in SpaceX, Robinhood and Huntsman
Premarket trading is showing sharp divergences across newly listed, restructuring and earnings-sensitive stocks. SpaceX is extending gains after its market debut, while Robinhood is rising on a cost-cutting plan and Huntsman is falling after agreeing to an all-stock merger with Olin.
Highlights
- SpaceX surges 57% above its $135 IPO price to around $212 in premarket trading after beginning public trading Friday.
- Robinhood rises more than 2% premarket after announcing a 10% workforce layoff and projecting around $20 million in severance-related charges.
- Huntsman drops about 10% while Olin falls 1% after agreeing to a merger slated to close in the first half of 2027, forming OlinHuntsman.
Premarket drivers across IPO, deal and restructuring news
As reported by CNBC, SpaceX is up another 10% in premarket trading after pricing its initial public offering at $135 per share and beginning trading Friday.The stock is trading at around $212 before the bell, about 57% above its IPO price, adding to already strong early gains for Elon Musk's rocket company.
Robinhood is rising more than 2% after announcing plans to lay off about 10% of its workforce. The online brokerage says it expects to record around $20 million in charges tied to severance and benefits costs.
Huntsman is falling around 10% after agreeing to merge with rival Olin in an all-stock transaction. Olin shares are down about 1%, and the combined company is set to be named OlinHuntsman if the deal closes in the first half of 2027.
Earnings pressure and sector implications
Dave & Buster's is dropping 14% after reporting weaker-than-expected first-quarter results, highlighting continued investor sensitivity to earnings misses in consumer-facing businesses.The company posts earnings of 16 cents per share, well below the StreetAccount forecast of 60 cents per share. Revenue reaches $559.2 million, missing the $580.6 million consensus estimate, while comparable store sales decline 5.4% from the year-earlier period.
The session's biggest premarket movers reflect a market that is rewarding momentum after high-profile listings, while penalizing earnings disappointments and recalibrating valuations around merger and restructuring announcements.
In our earlier coverage of AST SpaceMobile (ASTS), we focused on the stock’s sharp jump and the build-up to its June 17 SpaceX Falcon 9 launch carrying the BlueBird 8, 9, and 10 satellites. We noted that while the operational milestone supported the company’s satellite-broadband expansion story, technical indicators were mixed, pointing to elevated volatility and a likely consolidation range unless key resistance levels were reclaimed.
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