Midday Stock Movers: NIO, Honest Company Tumble, Bed Bath & Beyond Rallies

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Midday Stock Movers: NIO, Honest Company Tumble, Bed Bath & Beyond Rallies

By Sam Boughedda

Investing.com -- U.S. indices are trading lower Friday, with the Nasdaq falling over 1%. Here are the midday movers on Friday, March 25th.

Nio Inc. (NYSE: NIO ) is down over 11% after it reported earnings. In its earnings call, the company's co-Founder and CEO William Li warned that "chip supply is a big challenge" in 2022.

Carnival Corporation (NYSE: CCL ) is 0.7% lower after being downgraded to Hold from Buy at Argus based on "deteriorated" prospects.

Switch, Inc. (NYSE: SWCH ) was downgraded to Equal Weight from Overweight Friday, resulting in the stock trading around 2.6% lower Friday lunchtime.

Bed Bath & Beyond Inc. (NASDAQ: BBBY ) rose, then fell, then rose again all before midday following news the company had reached a settlement with GameStop (NYSE: GME ) executive chairman Ryan Cohen. The agreement sees three board members added to Bed Bath & Beyond.

Honest Company, Inc. (NASDAQ: HNST ) reported an earnings and revenue miss Thursday after the close, resulting in the stock trading 27% lower at the midday point.

Cannabis stocks such as Tilray, Inc.  (NASDAQ: TLRY ) have continued to climb Friday on reports the U.S. House of Representatives is planning to vote on the Marijuana Opportunity Reinvestment and Expungement Act. Tilray shares are up 9.4%.

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