Volume Stonkers | NVIDIA rose 4.08%, Mizuho expects 26% gain, Tesla fell 1.26%, Musk to interview Trump
AInvestMonday, Aug 12, 2024 5:30 pm ET
3min read
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NVIDIA, the top stock by trading volume, rose 4.08% with a trading volume of $35.125 billion. Mizuho highly recommends NVIDIA, stating that its Q2 earnings report will be a significant catalyst, and expects the stock price to increase by another 26%. Additionally, President and CEO Jensen Huang cashed out $24.9 million this month by selling 240,000 shares. NVIDIA's dominant position in the AI field remains unchallenged.

Tesla, the second most traded stock, fell 1.26% with a trading volume of $12.574 billion. Tesla CEO Elon Musk will have an impromptu interview with Trump tomorrow morning, sparking widespread market discussion. Lucid's introduction of technology compatible with Tesla charging is seen as a win for electric vehicle drivers.

Apple, the third most traded stock, rose 0.60% with a trading volume of $8.190 billion. Apple is catching up in the AI race, planning to launch Apple Intelligence within the next three years. Additionally, Apple's options trading surged, with a volume of 755,600 contracts and open interest of 6.8821 million contracts.

Visa, the fourth most traded stock, increased 0.05% with a trading volume of $6.952 billion. Visa and Plug and Play announced the launch of an inclusive fintech accelerator program. CNBC also reported on its latest options trading trends.

Microsoft, the fifth most traded stock, rose 0.20% with a trading volume of $6.120 billion. Microsoft and AMD’s performance further bolstered the commercial adoption of AI. Wedbush advises investors to pay attention to industry leaders. Microsoft is also seen as a quality long-term investment.

Advanced Micro Devices (AMD), the sixth most traded stock, increased 1.86% with a trading volume of $5.393 billion. AMD completed the acquisition of Silo AI to accelerate the development and deployment of AI models on its hardware. Wedbush stated that AMD's performance has alleviated market concerns about AI monetization.

Meta, the seventh most traded stock, fell 0.35% with a trading volume of $5.014 billion. Meta expanded its licensing agreement with Universal Music Group to include WhatsApp, covering artists like Taylor Swift and Coldplay.

Amazon, the eighth most traded stock, decreased 0.08% with a trading volume of $5.013 billion. Amazon's Prime Day set a new record, and Owlet announced strong Q2 2024 results.

SMIC, the ninth most traded stock, surged 6.33% with a trading volume of $4.970 billion. CJS Securities lowered SMIC's target stock price from $1,350 to $1,000, but the company's stock significantly rebounded after an 18.5% drop last week.

Eli Lilly, the tenth most traded stock, declined 0.78% with a trading volume of $3.660 billion. Eli Lilly submitted pricing terms related to the issuance of $5 billion in notes and released research indicating that its weight loss drug might reduce cancer risk.

Broadcom, the eleventh most traded stock, rose 0.24% with a trading volume of $2.638 billion. Broadcom was listed by Citigroup as a significant holding, with a notable position.

Alphabet A (Google A), the twelfth most traded stock, dropped 0.84% with a trading volume of $2.585 billion. Google introduced Gemini to Google Home and signed a multi-year collaboration agreement with CXApp.

TSMC, the thirteenth most traded stock, increased 0.31% with a trading volume of $2.272 billion. TSMC's American factory faced obstacles due to strict work culture differences, but the company continues to expand its global business.

Alphabet C (Google C), the fourteenth most traded stock, fell 0.87% with a trading volume of $2.038 billion. Details of Google's antitrust case verdict have emerged, involving Microsoft’s subsidies and Apple’s avoidance of Bing.

Palantir, the fifteenth most traded stock, dropped 2.17% with a trading volume of $2.002 billion. Palantir's performance exceeded expectations, and its strong partnership with Microsoft has raised market interest in its continued growth potential.

Micron Technology, the sixteenth most traded stock, rose 1.68% with a trading volume of $1.766 billion. Citigroup raised Micron’s target price to $145, and Mizuho continues to have a positive outlook on the company.

ExxonMobil, the seventeenth most traded stock, increased 0.13% with a trading volume of $1.572 billion. ExxonMobil laid off 59 workers and began a round of layoffs. Bernstein maintains a buy rating on the company.

Costco, the eighteenth most traded stock, rose 1.01% with a trading volume of $1.492 billion. Costco’s target stock price was raised to $950 by BMO Capital and maintained an outperform rating by the Bank of Montreal Capital.

UnitedHealth, the nineteenth most traded stock, increased 1.17% with a trading volume of $1.432 billion. UnitedHealth discovered files containing protected health information/personally identifiable information of most of the U.S. population while reviewing affected data.

JPMorgan Chase, the twentieth most traded stock, rose 0.20% with a trading volume of $1.411 billion. JPMorgan Chase will present at the Barclays Global Financial Services Conference. Insider stock sales may signal negative sentiment.
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