Wednesday’s Premarket Stock Moves: Rivian, Sarepta Therapeutics, Spotify, Monster Beverage, Noravax

Rivian ($RIVN@US) shares dropped 9 percent in premarket trading after the electric vehicle maker posted mixed fourth-quarter results and a subpar production outlook. Sarepta Therapeutics ($SRPT@US) surged 17 percent premarket after Morgan Stanley upgraded the biotech stock to overweight. Spotify ($SPOT@US) rose 1.3 percent premarket after Redburn upgraded the audio streaming giant’s stock to buy. Monster Beverage ($MNST@US) dropped 4.8 percent premarket after posting quarterly earnings and revenue that fell short of analysts’ expectations. Noravax ($NVAX@US) plummeted 25.4 percent premarket after the vaccine developer said that “substantial doubt exists regarding our ability to operate as a going concern” through the next year.