In the premarket, notable stock movers include Twitter, Tesla, and Starbucks.

Take a look at some of the biggest movers in the premarket:

Twitter's stock price increased by 26.1% in the premarket after Elon Musk disclosed a 9.2% passive stake in the company through a Securities and Exchange Commission filing.

Tesla sold more than 300,000 vehicles in the first quarter, a new record, but fell short of analyst predictions. Tesla's stock price increased by 1% before the market opened.

Starbucks has halted its share buyback program to allocate funds towards future growth opportunities, as Howard Schultz takes over as CEO once again, replacing Kevin Johnson. The company's stock price dropped 2.3% in premarket trading.

JPM – In his yearly missive to investors, Jamie Dimon, CEO, stated that the bank may incur a possible loss of $1 billion due to its involvement in Russian investments.

The U.S.-listed China stocks are experiencing a rally in premarket trading after China proposed revising confidentiality rules regarding audit oversight. This could pave the way for U.S.-China cooperation and prevent delisting of these companies in the U.S. JD.com, Netease, Alibaba, and Tencent Music all saw significant gains, with JD.com jumping 5.1%, Netease rising 3.9%, Alibaba gaining 4.3%, and Tencent Music adding 5.2%.

Hertz gained 2.3% in the premarket after announcing a new partnership with Polestar to buy up to 65,000 electric vehicles over the next five years.

Novartis has announced a restructuring of its business units, which could result in annual savings of at least $1 billion by 2024. The new structure will combine the drugmaker's pharmaceuticals and oncology businesses. Novartis' stock price increased by 1% in premarket trading.

Reuters reports that Canada will reveal investments in two GM plants today, including one that will manufacture electric commercial vehicles. The exact amount of the investments has not been disclosed.

Goldman Sachs upgraded Logitech from "neutral" to "buy," citing the company's recent strong financial performance. Logitech's stock price increased by 4.3% in the premarket.

After Loop Capital downgraded the casual shoe maker's stock to "hold" from "buy" and reduced the price target from $150 to $80, the stock slid 1.9% in premarket trading. Loop stated that investor sentiment on the stock has shifted, categorizing it as a "COVID winner."