Stocks making the biggest moves after hours: Nikola, Spotify, Hertz and more – CNBC

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Groupon— The e-commerce marketplace’s stock climbed up 4% after the marketplace closed. The Commerce Department reported Tuesday that retail sales had increased17.7% in May, signifying that the distressed market is rebounding amidst the coronavirus pandemic. Groupon works thoroughly with regional sellers. The company’s stock is down 54% up until now this year.

Hertz— Shares of the automobile rental business whipsawed and fell 4% in extended trading after the company announced Wednesday that it had suspended its strategy to offer up to$500 million in stock amid its Chapter 11 insolvency procedures. The SEC had actually revealed concern about the stock offering and initiated an evaluation of the stock sale strategy. Trading in Hertz shares halted previously on Wednesdayahead of the company’s statement before resuming around 3:30 p.m. ET.

American Airlines— Shares of American Airlines dropped 1% in after-hours trading. The company and other airlines, including United, Deltaand Southwest fell Wednesday in regular trading after leading the marketplace higher in recent weeks. Southwest Airlines stated on Wednesday that it has enough money for the next 2 years, up from its previous forecast of 20 months, due to take a trip demand slowly getting.

Spotify— Shares of the music streaming platform increased 1% in extended trading after news of Kim Kardashian West landing an exclusive podcast offer with the business, according to the Wall Street Journal. Kardashian West’s podcast will focus on her deal with the Innocence Project, a not-for-profit legal organization that works to exonerate people who were wrongfully convicted, the publication reported. The handle Kardashian West is Spotify’s most current push into other type of content. Last month it struck a licensing deal worth more than $100 million for Joe Rogan’s podcast, the Journal reported. Spotify’s stock set a 52-week high up on Wednesday.

Take a look at the business making headings after the bell.

Nikola– The hybrid truck producer’s stock fell and whipsawed 2% after the closing bell. Bloomberg reported Wednesday that business founder Trevor Milton exaggerated the capability of Nikola’s launching car in 2016. Milton suggested during the unveiling of the company’s model that the Nikola One truck was drivable although it wasn’t, according to the report. Milton refuted the Bloomberg post on Twitter. DISH Network– The tv provider’s stock increased about 1% in after-hours trading. DISH Network is set to close on a handle T-Mobile, according to an SEC filing. T-Mobile, which just recently combined with Sprint, is offering Sprint’s pre-paid service to DISH.

Wednesday that company creator Trevor Milton overemphasized the capability of Nikola’s debut car in 2016. Milton suggested throughout the unveiling of the company’s model that the Nikola One truck was drivable even though it wasn’t, according to the report.– The tv service provider’s stock rose about 1% in after-hours trading. MEAL Network is set to close on a deal with T-Mobile, according to an

SEC filing.– Shares of the music streaming platform rose 1% in extended trading after news of Kim Kardashian West landing a special podcast offer with the business, according to the Wall Street Journal.

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