After Market Hours: Cassava Sciences, Qutoutiao, GameStop Gain; Tesla, FTS International Slip

(RTTNews) - Cassava Sciences, Inc. (SAVA) - Shares of the clinical stage biotechnology company jumped over 16% on Monday after the bell on the news of insider stock buying. The company disclosed that Sanford Robertson, who has served as a director since 1998, bought 36,281 shares at $8.92 per share.

Qutoutiao Inc. (QTT) - Shares of the Chinese mobile platforms service provided jumped 6% in extended trading Monday after reporting second-quarter results. Revenues grew 4% to 1.441 billion yuan ($204.0 million), from 1.411 billion yuan last year. Net loss narrowed to 222.1 million yuan from a year-ago loss of 561.3 million yuan last year. Adjusted loss narrowed to to 173.3 million yuan from a year-ago loss of 496.3 million yuan. Looking forward to the third quarter, the company currently expects revenues to be between 1.130 billion and 1.150 billion yuan, representing a decrease of 18% to 20% year-over-year.

GameStop Corp. (GME) - The company gained over 6% in after-hours trading on Monday after the video game retail chain revealed that hedge fund RC Ventures has increased their stake to 9.9% from prior holding of 9.6%. Gamestop disclosed that RC Ventures has held talks with the management and board members recently. The fund believes that it could produce the best results for GameStop shareholders if it were to become more involved.

Tesla, Inc. (TSLA) - Shares of the luxury electric car maker slipped nearly 6% in after-hours trading Monday after CEO Elon Musk tweeted that Tesla's "high volume" battery cell production won't start until 2022 and therefore, it will mostly affect the Cybertruck, Tesla Semi, and Roadster programs. Tesla is set to hold its Battery Day tomorrow - an event where the company is expected to announce plans to build its own battery cell on a huge scale.

FTS International, Inc. (FTSI) - Shares of the nano-cap company tanked 21% in extended session Monday after the company announced that it has entered into a second amended and restated restructuring support agreement with creditors holding about 87.55% of its secured debt. The company also intends to file voluntary cases under Chapter 11 of the U.S. Bankruptcy Code.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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