23andMe (ME)

DNA testing services provider 23andMe filed for Chapter 11 bankruptcy on Sunday, and said its CEO Anne Wojcicki would resign from that role but remain on the board.

The company previously rejected co-founder Wojcicki's proposal to buy back the business, which has floundered in recent months.

Joe Selsavage, chief financial and accounting officer, will act as interim CEO.

Chapter 11 bankruptcies typically mean a company can continue operating, while restructuring debts and developing a plan to repay its creditors.

“We expect the court-supervised process will advance our efforts to address the operational and financial challenges we face, including further cost reductions and the resolution of legal and leasehold liabilities,” said Mark Jensen, chair and member of the special committee of the board of directors.

The company's share price was almost 40% lower in premarket trade on Monday.

Coinbase (COIN)

Crypto stocks and bitcoin headed higher on Monday, with exchange Coinbase rallying 4.1% in premarket. Analysts speculated that bitcoin had reached its "bottom", as it rallied 3.5%, past the $87,300 mark.

In December, bitcoin traded as high as $103,332.

Typically a rally in digital coin prices also lifts crypto companies and sentiment in the rest of the market. Crypto asset manager Microstrategy (MSTR) rose 5.2% ahead of the market open.

"No clear catalyst exists for an immediate parabolic rally; the risk-reward dynamic is shifting as selling pressure fades — something easily overlooked without closely monitoring daily developments," said Markus Thielen, founder of 10x Research.

"Bitcoin ETF inflows resumed last week following a $10 billion drop in open interest in BTC CME futures since the December FOMC meeting. With funding rates hovering near zero, these ETF inflows likely represent long-only capital that tends to be more stable."

RWE (RWE.DE)

German utility company RWE became the latest target of activist investor Elliot, following its push at oil major BP (BP.L).

“RWE is already proceeding with actions that might typically be at the top of an activist’s wish list, namely cutting capital expenditure on green technologies," said Russ Mould, investment director at AJ Bell.

"Therefore, Elliott has moved to the next obvious way to breath more life into the share price – calling for faster and greater share buybacks.

“The activist’s latest trades are united by one thing – backing a reversal in the energy transition. Elliott has put pressure on BP to focus more on oil and gas.