Several notable stocks are experiencing significant premarket movements, including Peloton, Canopy Growth, and Chipotle.

Check out the companies making headlines before the bell:

Peloton experienced a 1% increase in premarket trading after experiencing a 20% surge in each of the previous two sessions. The increase in stock price occurred following the announcement that CEO John Foley would be stepping down and that the company would be cutting 20% of its corporate positions.

The cannabis producer's stock price increased by 6% in the premarket after reporting a smaller loss and higher revenue than expected for the latest quarter. Despite a decline in cannabis sales, the company's drinks and vapes categories experienced growth.

Reynolds' consumer products company reported mixed quarterly results, with revenue falling short of Wall Street forecasts despite beating bottom-line estimates. The company also forecast weaker-than-expected revenue for the current quarter, causing its shares to fall 1.8% in premarket trading.

Chipotle reported an adjusted quarterly profit of $5.58 per share, exceeding the $5.25 consensus estimate, with revenue in line with analyst predictions. The restaurant chain announced that it would raise menu prices to address higher labor and food costs, and stated that they would likely be increased again this year. As a result, Chipotle's stock price increased by 6.1% in the premarket.

Lyft reported an adjusted 9 cents per share for its latest quarter, 1 cent above estimates, and better-than-expected revenue. However, the stock fell 3.7% in the premarket as ridership numbers came in below analyst forecasts. This was offset by higher fares and longer trips by Lyft customers.

Nikola denied a report that it implemented a hiring freeze and that it has lost most of its supply chain leadership. The company stated that its supply chain department is still intact and it continues to hire. The stock gained 1.4% in premarket trading.

The electric vehicle maker's Hong Kong shares experienced a 6.8% increase in the premarket after being included in a trading link to mainland China. This inclusion in the Shenzhen-Hong Kong Stock Connect link facilitates easier access to those shares for Chinese investors.

Enphase's stock price increased by 20.3% in premarket trading after the company released a better-than-expected quarterly report. Despite the consensus estimate of 58 cents per share, Enphase reported an adjusted 73 cents per share for the quarter.

After exceeding analyst forecasts, the logistics company's shares increased by 3.4% in the premarket. The strong North American trucking business was one of the factors contributing to these results.

Despite better-than-expected profit and sales for the company's most recent quarter, TCS's shares fell 26% in the premarket. Online sales plummeted by 36% compared with a year earlier, while overall sales decreased by 3% from the previous year.

The financial technology and services company's stock price increased by 11.3% during premarket trading after the company announced a strategic review of its operations and stated that there is significant untapped shareholder value.