---
title: "Pre-market trading in US stocks: Tesla rises more than 3%, leading the technology sector! Cryptocurrencies and Trump-related stocks soar"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/200673279.md"
description: "Li Auto rose more than 2%, leading the Chinese concept stocks, while Baidu, Bilibili, and XPeng rose more than 1%; Microstrategy rose more than 5%. Trump Media, owned by former President Trump, briefly rose more than 26%. Reddit surged more than 11% in pre-market trading and is expected to hit a new high at the opening. Buzzfeed fell 14% at one point"
datetime: "2024-03-26T10:24:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/200673279.md)
  - [en](https://longbridge.com/en/news/200673279.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/200673279.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/200673279.md) | [繁體中文](https://longbridge.com/zh-HK/news/200673279.md)


# Pre-market trading in US stocks: Tesla rises more than 3%, leading the technology sector! Cryptocurrencies and Trump-related stocks soar

### U.S. Stock News

1.  One of the "Four Little Dragons" of Alibaba Group, the wholesale platform 1688, has launched a comprehensive "entry into Taobao". Recently, it has opened three stores on Taobao named "1688 Strict Selection", "1688 Enterprise Self-Procurement Tmall Flagship Store", and "1688 Industrial Expert Selection". These Taobao stores will be integrated into a channel similar to "Tmall Supermarket" in the future, and will launch 1688 Strict Selection branded original factory goods on Taobao.
    
2.  Zhihu released its financial report for the fourth quarter of 2023 and the full year, with a total annual revenue of 4.199 billion RMB, a year-on-year increase of 16.5%; the fourth quarter revenue was 1.138 billion RMB, a year-on-year increase of 2.2%. In the fourth quarter, Zhihu's net loss narrowed by 42.6% year-on-year, and the adjusted net loss dropped to less than 100 million RMB for the first time since its listing.
    
3.  Taobao China completed the sale of 30.8 million shares of Bilibili ADR.
    
4.  Lei Jun posted on Weibo that Xiaomi has made huge investments in the field of smart driving. The R&D team now exceeds 1,000 people, and is expected to exceed 1,500 people by the end of the year. Equipped with dedicated test vehicles, Xiaomi's smart driving has accumulated over 10 million kilometers of road testing. Xiaomi's smart driving may be the fastest progressing and most aggressive in the industry. Our goal is to enter the top ranks of the industry by 2024.
    
5.  Feishu CEO Xie Xin announced in a company-wide letter the adjustment of the company, appropriately streamlining the team size. According to multiple internal sources from Feishu, the proportion of team streamlining in this round is not more than 20%, as requested by ByteDance to organize a lean organization.
    
6.  Tesla CEO Elon Musk announced that starting this week, all eligible vehicles in the U.S. will have a one-month free trial of FSD.
    

### Pre-market Movers

In pre-market trading, the three major U.S. stock index futures are up, while the fear index is sharply down.

Bitcoin is currently trading at $71,062, up 6% in the past 24 hours; Ethereum is trading at $3,660, up nearly 6% in the past 24 hours.

Tech stocks, Chinese concept stocks, and cryptocurrency-related stocks are almost all up in pre-market trading.

Tesla is up over 3%, AMD is up over 1%, NVIDIA is up nearly 1%, Amazon, Microsoft, Apple, and Meta are up.

Li Auto is up over 2%, leading the gains in Chinese concept stocks. Baidu, Bilibili, XPeng are up over 1%, Alibaba, JD.com, Pinduoduo are up, Nio, NetEase are down.

Microstrategy is up over 5%, Coinbase is up nearly 3%, Marathon Digital is up over 1%.

On the individual stock front, former U.S. President Trump's company Trump Media surged over 26% at one point, following its merger with a technology group.

Reddit surged over 11% at one point and is expected to hit a new high after the opening. The stock soared 30% on Monday, reaching a high of $61.94 at one point during the trading session Buzzfeed once fell by 14%, with fourth-quarter revenue dropping from $101.7 million in the same period last year to $75.7 million. It is expected that first-quarter revenue in 2024 will reach $42 million to $44 million, a decrease of 20% to 23% compared to the first quarter of 2023.

### Strategy Review

**1\. Is the peak of US tech stocks approaching?**

Including Bezos and Zuckerberg, the buy/sell ratio of insiders in tech companies has reached the highest level in 3 years. Are tech stocks about to peak?

**2\. Morgan Stanley talks about "10x stock in a year" for AMD: Expects to capture 10-15% market share in AI servers, 24x PE ratio is reasonable**

Morgan Stanley pointed out that the rapid expansion of the AI server market is the main driving force behind the rise in AMD's stock price, expecting the stock price to rise by 10% to $1150 by the end of the year, and the company's revenue to triple next year.

**3\. Wedbush: Apple may double down on the Chinese market, with the majority of iPhone production remaining in China**

The firm stated that amid declining iPhone sales and intense competition in the Chinese market, Apple may "double down" on the Chinese market, with Cook's recent visit to China being a sign of this. Wedbush stated: "The timing of this visit is crucial because fundamentally, Apple needs China, and China needs Apple."

While Apple has shifted some of its iPhone production to countries like India and Vietnam, Wedbush mentioned: "The vast majority of iPhone production and suppliers will still remain in China."

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- [LI AUTO-W (02015.HK)](https://longbridge.com/en/quote/02015.HK.md)
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