The stock market experienced a wave of optimism on Wednesday, driven by the latest inflation report. The Nasdaq 100 surged 1.7%, achieving a new record high, while the S&P 500 climbed 0.8%. This bullish sentiment was fueled by expectations of a 25-basis-point rate cut at the upcoming Federal Reserve meeting. The tech sector, particularly the “Magnificent Seven” mega-cap stocks, played a significant role in these gains.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
GameStop Corporation GME
GameStop shares rose 7.58% to close at $28.97, with an intraday high of $30.16 and a low of $27.51. The stock’s 52-week range is $64.83 to $9.95. The company’s third-quarter financial results revealed net sales of $860.3 million, falling short of the $887.7 million consensus estimate. Sales declined across all segments, with hardware and accessories generating $417.4 million, down from $579.4 million the previous year.
Adobe Inc. ADBE
Adobe’s stock saw a modest gain of 0.53%, closing at $549.93. The day’s high was $552.3, and the low was $541.74, with a 52-week range of $638.25 to $433.98. The company reported fourth-quarter revenue of $5.61 billion, surpassing the $5.54 billion consensus estimate. Adjusted earnings per share were $4.81, beating the $4.66 estimate. Despite this, shares dipped due to soft guidance.
Meta Platforms Inc. META
Meta Platforms’ stock increased by 2.16%, ending the day at $632.68. The stock reached an intraday high of $638.4 and a low of $621.53, with a 52-week range of $638.4 to $324.56. The company faced a major outage affecting Facebook, Instagram, Threads, and WhatsApp, impacting thousands of users. Meta acknowledged the issue, which was reported by Downdetector.com.
Candel Therapeutics, Inc. CADL
Candel Therapeutics’ stock skyrocketed 68.11% to $7.75, with a high of $14.60 and a low of $6.13. The 52-week range is $14.60 to $1. The company announced successful results from a phase 3 trial of its CAN-2409 viral immunotherapy for prostate cancer, meeting its primary endpoint and showing significant improvement in disease-free survival.
Tesla, Inc. TSLA
Tesla shares climbed 5.93% to close at $424.77, with an intraday high of $424.88 and a low of $402.38. The stock’s 52-week range is $424.88 to $138.8. The company’s strong performance in China, particularly with the Model Y, contributed to this rise. In November, Tesla’s retail sales in China reached 73,490 units, marking a significant recovery.
Image via Pixabay
Prepare for the day’s trading with top premarket movers and news by Benzinga.
Read Next:
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
