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Volume Stonkers | NVIDIA fell 2.25%, Tesla dropped 3.23%, Pinduoduo plummeted 28.51%, anticipating NVIDIA's Blackwell architecture details

AInvestMonday, Aug 26, 2024 5:30 pm ET
2min read
NVIDIA, the top stock by trading volume in the U.S. market, fell 2.25% with a trading volume of $41.79 billion. The market is highly anticipating the performance of NVIDIA's data center business as it prepares to unveil details of its Blackwell architecture.

Tesla, the second-most traded stock, dropped 3.23%, with a trading volume of $12.642 billion. Tesla faces uncertainties in its core electric vehicle business, a wave of executive departures, and Elon Musk's inability to join the Trump administration due to business engagements.

Pinduoduo, ranked third, plummeted 28.51% with a trading volume of $10.508 billion. Despite an 86% year-over-year increase in Q2 revenue, Jefferies downgraded its target stock price to $151, and Macquarie also downgraded its rating to neutral.

AMD, in fourth place, declined 3.22% with a trading volume of $7.545 billion. The semiconductor sector overall declined ahead of NVIDIA's earnings report.

Apple, the fifth most traded stock, inched up 0.15% with a trading volume of $6.875 billion. Apple announced that Kevin Parikh will take over as Chief Financial Officer, with Luca Maestri set to exit in 2025.

Microsoft, ranked sixth, fell 0.79% with a trading volume of $5.428 billion. Microsoft-backed OpenAI supports California's bill on AI content labeling and plans to host a cybersecurity event in the future.

SMIC, in seventh place, dropped 8.27% with a trading volume of $5.187 billion. The surge in AI cloud computing spending and the competitive dynamics in the tech hardware sector are closely watched.

Meta, the eighth most traded stock, declined 1.30% with a trading volume of $4.979 billion. Meta has reached an agreement with Sage Geosystems to provide geothermal power solutions for data center growth.

Amazon, in ninth place, fell 0.87% with a trading volume of $3.916 billion. Apollo and BlackRock are discussing aiding Amazon in consolidating merchants, as the e-commerce boom wanes, prompting a reshuffle.

Broadcom, the tenth most traded stock, dropped 4.05% with a trading volume of $2.966 billion. Broadcom and Hitachi Vantara have launched AI cloud solutions, but the semiconductor sector remains under pressure.

Micron Technology, in eleventh place, fell 3.83% with a trading volume of $2.613 billion. Micron plans to acquire two factories from AU Optronics for up to $620 million to expand advanced packaging and HBM production lines.

Alibaba, ranked twelfth, dropped 4.26% with a trading volume of $2.387 billion. Alibaba completed a dual primary listing to pave the way for Stock Connect, with Morgan Stanley expecting an inflow of $1.2 billion.

Google A, in thirteenth place, rose 0.33% with a trading volume of $2.349 billion. Google has reached a $250 million media support agreement with California and will update its gambling and gaming policies in Germany.

Eli Lilly, ranked fourteenth, edged down 0.20% with a trading volume of $2.055 billion. Eli Lilly's Alzheimer's drug faces regulatory challenges in the UK, while its market share in obesity drugs is closely watched.

Google C, in fifteenth place, gained 0.30% with a trading volume of $2.009 billion. Analysts are evaluating Alphabet's value without Google Search, and the performance of the tech giants is on par with other S&P 500 stocks.

Bank of America, the sixteenth most traded stock, rose 0.37% with a trading volume of $1.780 billion. Latina women contributed $1.3 trillion to the U.S. GDP, and the Australian dollar and British pound were deemed the best shorts against the dollar.

Berkshire Hathaway B, in seventeenth place, increased 0.28% with a trading volume of $1.622 billion. Berkshire signed a labor agreement with Norfolk Southern, and Warren Buffett is betting on the "lipstick effect."

Exxon Mobil, ranked eighteenth, surged 2.16% with a trading volume of $1.618 billion. Exxon Mobil's oil production in Guyana has come back online and reached full capacity.

TSMC, in nineteenth place, declined 1.27% with a trading volume of $1.600 billion. TSMC received substantial subsidies from mainland China and Japan, but its U.S. plant has yet to produce chips.

Costco, the twentieth most traded stock, rose 1.51% with a trading volume of $1.545 billion. Costco opened its first store in Okinawa, attracting large crowds, and despite the slowdown in consumer spending, it performed well in the value category.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.