Stocks finished down Thursday but came off lows as private payrolls in the U.S. rose the most in nearly a year in May and Wall Street reacted to a report saying President Joe Biden may be open to a corporate tax rate lower than 28%.
Here are some of the big movers in the stock market on Thursday:
1. Workhorse Group | Increase 28%
Workhorse Group (WKHS) - Get Report surged after the electric-powered delivery and utility vehicle maker joined the meme-stock club. Investors bid up shares of an otherwise little known player in the EV space.
The company posted a loss of $120.5 million on sales of about $521,000 for its most recent quarter.
2. BlackBerry | Increase 4.1%
BlackBerry was the second-most mentioned company on Stocktwits, a popular community of individual investors, over the past 24 hours, trailing fellow meme stock AMC Entertainment (AMC) - Get Report, Bloomberg reported.
3. General Motors | Increase 6.4%
General Motors (GM) - Get Report jumped after the carmaker said it expected first-half earnings to be "significantly better" than previous forecasts as semiconductor shipments improve and plants around the country return to full capacity.
GM said it was accelerating the production of large and medium-sized pickups in the U.S.
4. Tilray | Increase 3.8%
The investment firm now has a $22 price target on the Nanaimo, British Columbia, company, down from $30.25.
5. Ciena | Increase 7.3%
Net income rose to $103.1 million, or 66 cents a share, from $91.7 million, or 59 cents a share, a year earlier. Revenue declined 6.7% year over year to $833.9 million.