Volume Stonkers | NVIDIA Fell 6.67%, Executives Planned to Sell 120,000 Shares
Thursday, Aug 1, 2024 5:30 pm ET
2min read NVIDIA, the top stock by trading volume, fell 6.67% with a trading volume of $57.703 billion. The stock was pressured by news that executives planned to sell 120,000 shares. Additionally, a broader sell-off in tech stocks exacerbated its decline.
Meta, in second place, rose 4.83% with a trading volume of $21.745 billion. Meta's second-quarter performance and future guidance exceeded expectations, boosting market confidence in its growth prospects. The decision not to increase the annual capital expenditure cap further supported the stock price.
Tesla, ranked third, dropped 6.55% with a trading volume of $18.441 billion. Despite announcing the production of its 10 millionth electric drive system at the Shanghai Gigafactory, the broader tech sell-off influenced market sentiment, leading to a decline in its stock price.
Apple, in fourth place, fell 1.68% with a trading volume of $12.818 billion. The CFO indicated that service revenue would see double-digit growth in the fourth fiscal quarter, but overall revenue growth would be similar to the third fiscal quarter, resulting in a lukewarm market reaction.
AMD, in fifth place, declined 8.26% with a trading volume of $12.735 billion. While data center revenue surged, it wasn't enough to offset the broader tech sell-off, leading to a significant drop in its stock price.
Microsoft, ranked sixth, fell 0.30% with a trading volume of $12.556 billion. Despite cautious investor sentiment due to slowing cloud revenue and competition with OpenAI, the stock experienced only a minor decline.
Amazon, in seventh place, dropped 1.56% with a trading volume of $12.081 billion. AWS growth exceeded expectations, but overall performance guidance fell short, and bullish capital expenditure failed to lift the stock price.
Broadcom, in eighth place, fell 8.50% with a trading volume of $5.937 billion. The stock suffered a steep decline, dragged down by overall weakness in the semiconductor sector.
Alphabet Class A, ranked ninth, declined 0.46% with a trading volume of $4.146 billion. Despite launching new AI-based features, the broader tech sell-off affected its stock price.
Qualcomm, in tenth place, dropped 9.37% with a trading volume of $4.102 billion. Even though Deutsche Bank raised its target stock price, the overall bearish market sentiment led to significant losses.
Arm Holdings, ranked eleventh, fell 15.72% with a trading volume of $3.862 billion. Poor annual revenue guidance and downgraded key business growth forecasts led to a sharp decline in its stock price.
Advanced Micro Devices (AMD), in twelfth place, dropped 4.19% with a trading volume of $3.687 billion. The broader sell-off in tech stocks resulted in a decline in its stock price.
TSMC, ranked thirteenth, fell 4.59% with a trading volume of $3.380 billion. The stock saw a significant drop due to overall weakness in the semiconductor sector and substantial selling by foreign investors.
Eli Lilly, in fourteenth place, rose 3.49% with a trading volume of $3.367 billion. The company’s weight-loss drug showed significant heart failure risk reduction effects, and the anticipated resolution of supply shortages boosted its stock price.
Micron Technology, ranked fifteenth, declined 7.57% with a trading volume of $3.125 billion. Concerns over its performance expectations exacerbated the decline amid overall market weakness.
Alphabet Class C, in sixteenth place, fell 0.40% with a trading volume of $2.925 billion. Despite launching new AI features, the broader tech sell-off continued to impact its stock price.
Intel, ranked seventeenth, dropped 5.50% with a trading volume of $2.758 billion. The company’s announcement of a 15% workforce reduction and lowered performance guidance led to a sharp decline in its stock price.
Chevron, in eighteenth place, fell 4.92% with a trading volume of $2.573 billion. The stock faced significant resistance due to earnings challenges and delays in the Hess acquisition, leading to a steep decline.
Boeing, ranked nineteenth, dropped 6.47% with a trading volume of $2.492 billion. Production slowdowns and FAA recommendations for mandatory inspections of some 787 aircraft pressured its stock price.
Lam Research, in twentieth place, fell 9.87% with a trading volume of $2.395 billion. Despite multiple rating upgrades from institutions, severe sell-off sentiment in the tech sector led to a significant drop in its stock price.
Meta, in second place, rose 4.83% with a trading volume of $21.745 billion. Meta's second-quarter performance and future guidance exceeded expectations, boosting market confidence in its growth prospects. The decision not to increase the annual capital expenditure cap further supported the stock price.
Tesla, ranked third, dropped 6.55% with a trading volume of $18.441 billion. Despite announcing the production of its 10 millionth electric drive system at the Shanghai Gigafactory, the broader tech sell-off influenced market sentiment, leading to a decline in its stock price.
Apple, in fourth place, fell 1.68% with a trading volume of $12.818 billion. The CFO indicated that service revenue would see double-digit growth in the fourth fiscal quarter, but overall revenue growth would be similar to the third fiscal quarter, resulting in a lukewarm market reaction.
AMD, in fifth place, declined 8.26% with a trading volume of $12.735 billion. While data center revenue surged, it wasn't enough to offset the broader tech sell-off, leading to a significant drop in its stock price.
Microsoft, ranked sixth, fell 0.30% with a trading volume of $12.556 billion. Despite cautious investor sentiment due to slowing cloud revenue and competition with OpenAI, the stock experienced only a minor decline.
Amazon, in seventh place, dropped 1.56% with a trading volume of $12.081 billion. AWS growth exceeded expectations, but overall performance guidance fell short, and bullish capital expenditure failed to lift the stock price.
Broadcom, in eighth place, fell 8.50% with a trading volume of $5.937 billion. The stock suffered a steep decline, dragged down by overall weakness in the semiconductor sector.
Alphabet Class A, ranked ninth, declined 0.46% with a trading volume of $4.146 billion. Despite launching new AI-based features, the broader tech sell-off affected its stock price.
Qualcomm, in tenth place, dropped 9.37% with a trading volume of $4.102 billion. Even though Deutsche Bank raised its target stock price, the overall bearish market sentiment led to significant losses.
Arm Holdings, ranked eleventh, fell 15.72% with a trading volume of $3.862 billion. Poor annual revenue guidance and downgraded key business growth forecasts led to a sharp decline in its stock price.
Advanced Micro Devices (AMD), in twelfth place, dropped 4.19% with a trading volume of $3.687 billion. The broader sell-off in tech stocks resulted in a decline in its stock price.
TSMC, ranked thirteenth, fell 4.59% with a trading volume of $3.380 billion. The stock saw a significant drop due to overall weakness in the semiconductor sector and substantial selling by foreign investors.
Eli Lilly, in fourteenth place, rose 3.49% with a trading volume of $3.367 billion. The company’s weight-loss drug showed significant heart failure risk reduction effects, and the anticipated resolution of supply shortages boosted its stock price.
Micron Technology, ranked fifteenth, declined 7.57% with a trading volume of $3.125 billion. Concerns over its performance expectations exacerbated the decline amid overall market weakness.
Alphabet Class C, in sixteenth place, fell 0.40% with a trading volume of $2.925 billion. Despite launching new AI features, the broader tech sell-off continued to impact its stock price.
Intel, ranked seventeenth, dropped 5.50% with a trading volume of $2.758 billion. The company’s announcement of a 15% workforce reduction and lowered performance guidance led to a sharp decline in its stock price.
Chevron, in eighteenth place, fell 4.92% with a trading volume of $2.573 billion. The stock faced significant resistance due to earnings challenges and delays in the Hess acquisition, leading to a steep decline.
Boeing, ranked nineteenth, dropped 6.47% with a trading volume of $2.492 billion. Production slowdowns and FAA recommendations for mandatory inspections of some 787 aircraft pressured its stock price.
Lam Research, in twentieth place, fell 9.87% with a trading volume of $2.395 billion. Despite multiple rating upgrades from institutions, severe sell-off sentiment in the tech sector led to a significant drop in its stock price.
