Stocks making the biggest moves midday: Rent the Runway, Meta, Oatly, Adobe & more
In this article RENT CVNA Onur Dogman | Lightrocket | Getty Images Check out the companies making headlines in midday trading Tuesday. Meta – Shares of Meta slid almost 8% as the overall market fell Tuesday. The company' ;s bet on Reels is facing hurdles — Instagram users are spending less than one-tenth of the 197.8 million hours TikTok users spend each day on the platform, The Wall Street Journal reported Monday. Meanwhile, Morgan Stanley reiterated its overweight rating on the stock Tuesday, saying investors should wait for more information on declining user engagement trends during the next earnings call. Rent the Runway – Rent the Runway plunged nearly 31% after releasing disappointing second-quarter results showing slowed subscriber growth. In addition, Credit Suisse downgraded shares of the company to neutral from outperform after the earnings report. Oatly — Oatly sank 9% after Credit Suisse downgraded the beverage company to neutral from outperform and cut its price ta...