Volume Stonkers | Tesla Declined by 8.45%, Elon Musk to Lead Government Efficiency Committee
Friday, Sep 6, 2024 5:30 pm ET
3min read NVIDIA, the top stock by trading volume, fell by 4.09% with a trading volume of $42.054 billion. NVIDIA directors sold 240,000 shares of common stock, valued at approximately $25.8055 million. Bank of America stated that while market skepticism towards AI is understandable, there is no need to worry before 2026.
Tesla, the second most traded stock, declined by 8.45%, with a trading volume of $24.318 billion. Tesla announced a roadmap for FSD entering China and Europe next year. Former President Trump announced that Elon Musk will lead a government efficiency committee, aiming to save trillions of dollars.
Apple, the third most traded stock, dropped by 0.70%, with a trading volume of $10.628 billion. Apple is set to host a major event next week. Goldman Sachs predicts that four major surprises could drive the stock price up by 24%, with the iPhone 16 series featuring 3nm processors.
Broadcom, the fourth stock in trading volume, fell by 10.36%, with a trading volume of $10.429 billion. Despite uneven AI growth, Morgan Stanley still described its growth as "strong," and Bernstein maintained a buy rating with a target price of $210.
Microsoft, the fifth most traded stock, decreased by 1.64%, with a trading volume of $7.792 billion. Microsoft directors sold 78,400 shares of common stock, valued at approximately $32.0172 million, with options trading showing high activity.
Meta, the sixth most traded stock, dropped by 3.21%, with a trading volume of $7.403 billion. Meta Platforms saw active options trading, and WhatsApp and Messenger in Europe will update third-party chat integration metadata.
Amazon, the seventh most traded stock, declined by 3.65%, with a trading volume of $6.989 billion. Amazon stock traded lower amid a weak market overall, with non-farm payroll growth below expectations, potentially triggering economic concerns.
Alphabet A, the eighth most traded stock, fell by 4.02%, with a trading volume of $5.688 billion. Google's advertising business is once again under scrutiny in the UK for alleged abuse of its dominant position. A judge has asked the Department of Justice to propose an antitrust case by the end of the year, with a decision expected by August 2025.
AMD, the ninth most traded stock, fell by 3.65%, with a trading volume of $5.316 billion. AMD confirmed that the next-generation handheld chip Z2 Extreme will be released in early 2025, with options trading showing high activity.
Alphabet C, the tenth most traded stock, decreased by 4.08%, with a trading volume of $3.805 billion. Google's advertising business is under scrutiny by UK regulators, with an antitrust case decision expected by August 2025.
SMIC, the eleventh most traded stock, fell by 6.79%, with a trading volume of $3.531 billion. JPMorgan downgraded SMIC to a hold rating with a target price of $500, with options trading showing high activity.
Eli Lilly, the twelfth most traded stock, decreased by 1.05%, with a trading volume of $3.082 billion. Eli Lilly reached a $409 million agreement with biotech company Genetic Leap to bet on AI drug development and a $1 billion collaboration with HAYA to develop targeted non-coding RNA therapies.
ASML, the thirteenth most traded stock, fell by 5.38%, with a trading volume of $2.372 billion. ASML was affected by new Dutch export regulations, but Bank of America Securities maintained its buy rating.
TSMC, the fourteenth most traded stock, declined by 4.19%, with a trading volume of $2.360 billion. TSMC reached a collaboration with Samsung to develop HBM4 AI chips. According to Bloomberg, its trial in Arizona matches the productivity of its Taiwan plant.
Berkshire Hathaway B, the fifteenth most traded stock, fell by 1.09%, with a trading volume of $2.020 billion. Warren Buffett reduced his stake in Bank of America for nine consecutive trading days, cashing out $760 million this week.
Micron Technology, the sixteenth most traded stock, declined by 3.37%, with a trading volume of $1.983 billion. Micron Technology saw active options trading, with Mizuho Securities adjusting its target price from $140 to $145, maintaining an outperform rating.
Netflix, the seventeenth most traded stock, fell by 2.61%, with a trading volume of $1.982 billion. Netflix saw active options trading, and NFL Commissioner Roger Goodell defended moving games to streaming platforms. XGIMI released a series of new home and portable projectors.
Visa, the eighteenth most traded stock, rose by 0.31%, with a trading volume of $1.980 billion. Visa bucked the trend and rose, with Compass Point giving it a buy rating and a target price of $319. The former Chairman and CEO joined the GM board of directors.
Bank of America, the nineteenth most traded stock, fell by 3.39%, with a trading volume of $1.832 billion. Warren Buffett reduced his stake in Bank of America for nine consecutive trading days and expects the Federal Reserve to cut rates by 25 basis points at each of the next five policy meetings.
Costco, the twentieth most traded stock, decreased by 1.05%, with a trading volume of $1.805 billion. Costco's same-store sales increased by 5% in August. Telsey Advisory Group maintained its target price at $925 per share.
Tesla, the second most traded stock, declined by 8.45%, with a trading volume of $24.318 billion. Tesla announced a roadmap for FSD entering China and Europe next year. Former President Trump announced that Elon Musk will lead a government efficiency committee, aiming to save trillions of dollars.
Apple, the third most traded stock, dropped by 0.70%, with a trading volume of $10.628 billion. Apple is set to host a major event next week. Goldman Sachs predicts that four major surprises could drive the stock price up by 24%, with the iPhone 16 series featuring 3nm processors.
Broadcom, the fourth stock in trading volume, fell by 10.36%, with a trading volume of $10.429 billion. Despite uneven AI growth, Morgan Stanley still described its growth as "strong," and Bernstein maintained a buy rating with a target price of $210.
Microsoft, the fifth most traded stock, decreased by 1.64%, with a trading volume of $7.792 billion. Microsoft directors sold 78,400 shares of common stock, valued at approximately $32.0172 million, with options trading showing high activity.
Meta, the sixth most traded stock, dropped by 3.21%, with a trading volume of $7.403 billion. Meta Platforms saw active options trading, and WhatsApp and Messenger in Europe will update third-party chat integration metadata.
Amazon, the seventh most traded stock, declined by 3.65%, with a trading volume of $6.989 billion. Amazon stock traded lower amid a weak market overall, with non-farm payroll growth below expectations, potentially triggering economic concerns.
Alphabet A, the eighth most traded stock, fell by 4.02%, with a trading volume of $5.688 billion. Google's advertising business is once again under scrutiny in the UK for alleged abuse of its dominant position. A judge has asked the Department of Justice to propose an antitrust case by the end of the year, with a decision expected by August 2025.
AMD, the ninth most traded stock, fell by 3.65%, with a trading volume of $5.316 billion. AMD confirmed that the next-generation handheld chip Z2 Extreme will be released in early 2025, with options trading showing high activity.
Alphabet C, the tenth most traded stock, decreased by 4.08%, with a trading volume of $3.805 billion. Google's advertising business is under scrutiny by UK regulators, with an antitrust case decision expected by August 2025.
SMIC, the eleventh most traded stock, fell by 6.79%, with a trading volume of $3.531 billion. JPMorgan downgraded SMIC to a hold rating with a target price of $500, with options trading showing high activity.
Eli Lilly, the twelfth most traded stock, decreased by 1.05%, with a trading volume of $3.082 billion. Eli Lilly reached a $409 million agreement with biotech company Genetic Leap to bet on AI drug development and a $1 billion collaboration with HAYA to develop targeted non-coding RNA therapies.
ASML, the thirteenth most traded stock, fell by 5.38%, with a trading volume of $2.372 billion. ASML was affected by new Dutch export regulations, but Bank of America Securities maintained its buy rating.
TSMC, the fourteenth most traded stock, declined by 4.19%, with a trading volume of $2.360 billion. TSMC reached a collaboration with Samsung to develop HBM4 AI chips. According to Bloomberg, its trial in Arizona matches the productivity of its Taiwan plant.
Berkshire Hathaway B, the fifteenth most traded stock, fell by 1.09%, with a trading volume of $2.020 billion. Warren Buffett reduced his stake in Bank of America for nine consecutive trading days, cashing out $760 million this week.
Micron Technology, the sixteenth most traded stock, declined by 3.37%, with a trading volume of $1.983 billion. Micron Technology saw active options trading, with Mizuho Securities adjusting its target price from $140 to $145, maintaining an outperform rating.
Netflix, the seventeenth most traded stock, fell by 2.61%, with a trading volume of $1.982 billion. Netflix saw active options trading, and NFL Commissioner Roger Goodell defended moving games to streaming platforms. XGIMI released a series of new home and portable projectors.
Visa, the eighteenth most traded stock, rose by 0.31%, with a trading volume of $1.980 billion. Visa bucked the trend and rose, with Compass Point giving it a buy rating and a target price of $319. The former Chairman and CEO joined the GM board of directors.
Bank of America, the nineteenth most traded stock, fell by 3.39%, with a trading volume of $1.832 billion. Warren Buffett reduced his stake in Bank of America for nine consecutive trading days and expects the Federal Reserve to cut rates by 25 basis points at each of the next five policy meetings.
Costco, the twentieth most traded stock, decreased by 1.05%, with a trading volume of $1.805 billion. Costco's same-store sales increased by 5% in August. Telsey Advisory Group maintained its target price at $925 per share.
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