The Dow Jones ended Monday down 0.25%, while the Nasdaq climbed 1.2% to finish in the green. The S&P 500 also posted gains, rising nearly 0.4%. The S&P 500 also ended in positive territory gaining almost 0.4%. The Fed was expected to cut rates by 25 basis points on Wednesday, marking its third consecutive reduction, but recent inflation data complicated its future policy path. Traders braced for hawkish signals from updated projections, with a slower pace of rate cuts and upward revisions likely, potentially impacting growth, jobs, and markets.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Red Cat Holdings Inc. RCAT
Red Cat Holdings experienced a significant rise of 26.97%, closing at $10.45. The stock reached an intraday high of $11.33 and a low of $8.90, with a 52-week range between $12.57 and $0.56. The drone technology company reported second-quarter earnings that fell short of expectations, with revenue at $1.53 million against an anticipated $4.13 million. CEO Jeff Thompson emphasized the company’s focus on the Black Widow project, aiming for success in the SRR final production contract.
IonQ, Inc. IONQ
IonQ’s stock surged by 23.19%, closing at $41.81, with an intraday high of $42.81 and a low of $32.39. The stock’s 52-week range is from $42.81 to $6.22. The company showcased its ion trap technology, a key component of its quantum computers, and announced several notable contracts, including a $54.5 million deal with the U.S. Air Force Research Lab, boosting investor confidence.
Broadcom Inc. AVGO
Broadcom’s shares increased by 11.21%, closing at $250. The stock hit an intraday high of $251.88 and a low of $230.81, with a 52-week range from $251.88 to $104.15. The company continues to gain momentum following its fourth-quarter earnings report, which showed adjusted earnings per share of $1.42, surpassing analyst expectations. Despite missing revenue estimates, Broadcom’s quarterly revenue rose by 51% compared to the previous year, driving investor interest in the stock.
NVIDIA Corporation NVDA
NVIDIA’s stock fell by 1.68%, closing at $132. The stock’s intraday high was $134.40, with a low of $130.42, and a 52-week range between $152.89 and $47.32. The company recently announced a collaboration with Olympian Motors to deliver the first open, modular EV platform.
Tesla Inc. TSLA
Tesla’s shares rose by 6.14%, closing at $463.02. The stock reached an intraday high of $463.19 and a low of $436.15, with a 52-week range from $463.19 to $138.80. The Elon Musk-led company faced production challenges with its Cybertruck, as production rates were reduced even before a recent manufacturing pause. Researcher Troy Teslike noted that Tesla produced 30,582 Cybertrucks by the end of the third quarter of 2024, with 21,450 delivered, leaving a significant inventory. The production pause suggests potential demand challenges for the vehicle.
Image via Shutterstock
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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