Stocks making the biggest moves after hours: Tesla, Red Rock Resorts, Fitbit and more

Check out the companies making headlines after the bell:

Tesla – The automaker’s stock rose 1% in extended trading. Tesla’s shares jumped 13.5% and hit a new high earlier Monday on JMP Securities’ projection that the company will generate $100 billion in annual revenue by 2025.

Red Rock Resorts – Red Rock Resorts dropped more than 1% in extended trading. The company said Saturday that Red Rock Resorts President Richard Haskins died in a July 4 watercraft accident and that it will release a succession plan in the coming days. The drop also follows a trend of U.S. casino stocks declining over investor concerns that property closings will continue in the coming weeks because of the coronavirus pandemic.

Inovio Pharmaceuticals – Shares of Inovio fell 1% after the market closed. The pharmaceutical company’s stock has trended downward since last week when it announced positive results for its coronavirus vaccine clinical trial. Following the release, medical news site Stat said the company did not provide critical data required to evaluate its value.

Fitbit – Fitbit’s stock whipsawed in extended trading. Regulators in the European Union are reviewing Google’s $2.1 billion acquisition of Fitbit, with continuing concerns over how Google could use Fitbit users’ personal data and dominate the market.