Stock futures rose Tuesday. Tech-heavy Nasdaq futures rebounded from a slump that saw investors continue to rotate out of high-growth equities.
Here are some of the top movers during premarket trading on Tuesday.
1. Second Sight Medical EYES | Up 77%
Shares of Second Sight Medical Products (EYES) surged after the U.S. Food and Drug Administration cleared the company's treatment of retinitis pigmentosa, a rare genetic disorder that involves the breakdown and loss of cells in the retina of the eye. The disease causes vision loss that worsens over time and can lead to blindness. The shares had doubled in Monday trading.
2. Acadia Pharmaceuticals ACAD | Down 42%
Shares of Acadia Pharma (ACAD) plunged after the U.S. Food and Drug Administration found unspecified deficiencies as it reviewed a new-drug application for pimavanserin, a treatment for hallucinations and delusions associated with dementia-related psychosis. The regulatory update sparked a flurry of downgrades by Wall Street analysts.
3. GameStop GME | Up 12%
GameStop (GME) shares were higher for a fifth day after the videogame retailer reportedly asked Chewy.com (CHWY) Founder Ryan Cohen to lead its e-commerce strategy. The Senate Banking Committee will hold a meeting later Tuesday to discuss GameStop, Robinhood, and the State of Retail Investing.
4. Tesla TSLA | Up 5.9%
Shares of Tesla (TSLA) advanced after China released robust car sales data for last month. The China Passenger Car Association said electric vehicle sales in February rose more than sevenfold from a year ago, while falling 38% from January, to 97,000 EVs.
Tesla sold 18,318 EVs in February. "Considering the Lunar New Year in China, which took up a portion of February, we would characterize these February results as quite impressive and ahead of [Wall] Street expectations," Wedbush analyst Daniel Ives wrote.
5. Zoom Video ZM | Up 4%
Shares of Zoom Video (ZM) rose early Tuesday after its founder and chief executive, Eric Yuan, transferred some 40% of his ownership stake in the company to unspecified recipients, according to a securities filing made on Friday.