Baosheng Media Group Holdings was the most active stock in the pre-market session, with 4.28 million shares changing hands at the time of writing.
It is also unclear what is causing the stock to spike, as no fundamental news has been released to justify the pop.
Chegg was one of the biggest losers in the pre-market session, falling 31.88% at the time of writing.
In M&A news, The Coca-Cola Company has acquired the remaining 85% stake in sports performance hydration beverage company BODYARMOR for $5.6 billion in cash.
Core funds from operations totaled $3.42 a share, compared to $2.63 a share delivered in the same quarter last year, and above consensus estimates of $3.23 a share.
Revenue increased 32% year-over-year to record highs of $1.74 billion and above consensus estimates of $1.71 billion.