Volume Stonkers | NVIDIA fell 2.25%, Tesla dropped 3.23%, Pinduoduo plummeted 28.51%, anticipating NVIDIA's Blackwell architecture details
Monday, Aug 26, 2024 5:30 pm ET
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.
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.