Disney, Plug Power, Alibaba, Tesla, Roblox: Why These Five Stocks Are Trending Today

U.S. stocks ended the day in the red, with the Dow Jones turning lower on Wednesday. The Dow fell 0.54% to 35,123.36 while the NASDAQ declined 1.17% to 13,722.02 The S&P 500 also experienced a slight dip, dropping 0.07% to 4,467.71.

These are the top stocks that gained the attention of retail traders and investors throughout the day:

The Walt Disney Company DIS

Disney’s stock declined by 0.73%, closing at $87.49. The stock hit an intraday high of $89.56 and a low of $87.04, with a 52-week range between $126.48 and $84.07. The media giant reported third-quarter revenue of $22.33 billion, marking a 4% year-over-year increase. However, this figure missed the Street consensus estimate. The report also highlighted a significant gain from Disney’s investment in DraftKings Inc.

Plug Power Inc PLUG

Plug Power’s stock decreased by 1.47%, closing at $10.75. The stock reached an intraday high of $11.03 and a low of $10.56, with its 52-week range between $31.56 and $7.39. The company reported a 72% year-over-year increase in second-quarter revenue, amounting to $260.18 million. This growth was attributed to the company’s expansion with pedestal customers in material handling and significant growth in cryogenics and liquefaction. More details revealed the company’s commitment to green hydrogen production.

Alibaba Group Holding Limited BABA

Alibaba’s stock rose by 0.67%, closing at $94.85. The stock achieved an intraday high of $96.3 and a low of $94.08, with a 52-week range between $121.3 and $58.01. Mizuho analyst James Lee maintained a positive outlook on Alibaba, expecting the June quarter top line to reflect a recovery in consumer consumption. His analysis also highlighted the potential for several IPOs for Alibaba’s divisions in the near future.

Tesla Inc TSLA

Tesla’s stock dropped by 3.01%, closing at $242.19. The stock reached an intraday high of $251.1 and a low of $241.9, with its 52-week range between $314.67 and $101.81. Recent reports revealed that Zachary Kirkhorn, Tesla’s former CFO, sold shares of the company days before stepping down. Insider transactions for Tesla have been a topic of interest, with several executives, including Kirkhorn, actively selling shares over the past year.

Roblox Corp RBLX

Roblox’s stock plummeted by 21.90%, closing at $29.46. The stock hit an intraday high of $32.52 and a low of $29.07, with its 52-week range between $53.88 and $25.32. The company reported a 22% year-on-year growth in second-quarter FY23 Bookings, amounting to $780.7 million. However, the revenue missed the consensus, growing by only 15% Y/Y to $680.8 million. Further insights revealed that the Average Daily Active Users (DAUs) were 65.5 million, marking a 25% Y/Y increase.

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