Stocks making the biggest moves in the premarket: Lordstown Motors, Canopy Growth, Shake Shack & more

Stocks making the biggest moves in the premarket: Lordstown Motors, Canopy Growth, Shake Shack & more

(RIDE) – Lordstown tumbled 13.7% in premarket trading after the electric vehicle startup to fund operations and that its production this year would be, at best, 50% of prior projections. (CGC) – The cannabis producer's shares rose 2.4% in the premarket after MKM Partners upgraded the stock to "buy" from "neutral." MKM said sentiment surrounding the stock is so low that the current risk/reward profile is very favorable. (SHAK) – The restaurant chain's stock rallied 5.2% in premarket trading after Goldman Sachs upgraded it to "buy" from "neutral." Goldman believes a recent pullback presents a buying opportunity, given Shake Shack's strong balance sheet and favorable long-term growth prospects. Additionally, Wedbush upgraded the stock to "outperform" from "neutral," citing similar reasons. (AZO) – The auto parts retailer reported quarterly profit of $26.48 per share, beating the consensus estimate of $20.14 a share. Revenue also came in above estimates. Comparable-store sales surged 28.9%, well above the consensus FactSet estimate of 17.1%. AutoZone's gross margins dropped, however, due in part to an acceleration of the company's commercial business. AutoZone added 1.1% in premarket trading. (AMZN) – Amazon could announce as soon as this week, according to a person familiar with the matter who