Paypal, Meta Platforms and Amazon were among the stocks moving higher in premarket trading.
Many of the worst performing stocks of last year are poised to start off 2023 on the right foot as Wall Street looks to rebound. Major stocks that were down more than 50% or more were nearly all moving higher in premarket trading on Tuesday. PayPal was one of the biggest movers, climbing more than 2.5%, after Truist Securities analyst Andrew Jeffrey upgraded the payments stock to buy. Meta Platforms , Amazon , Netflix , Caesar's Entertainment and Carnival Corp.
Similarly, every stock in the Dow Jones Industrial Average that declined last year was rising in the premarket on Tuesday, including Intel , Apple and Walt Disney . However, one notable exception to this budding rebound was Tesla . The electric vehicle stock, which fell almost 70% last year, was down another 3.8% in premarket trading. On Monday, Tesla said it delivered more than 405,000 vehicles in the fourth quarter. That was a record high for Tesla but fell short of Wall Street expectations .
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