Instacart, Nio, Avinger, Alibaba, Tesla: Why These 5 Stocks Are Trending Today

U.S. stocks experienced a downward trend as trading neared its close, with the Dow Jones witnessing a decline of over 100 points on Tuesday. The Dow decreased by 0.31%, settling at 34,517.73, while the NASDAQ experienced a drop of 0.23%, closing at 13,678.19. Similarly, the S&P 500 also saw a decline, falling by 0.22% to 4,443.95.

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

Maplebear Inc CART

Maplebear Inc., popularly known as Instacart, made a notable debut, opening significantly above its IPO price. The stock’s performance for the day saw a rise of 12.33%, closing at $33.7, with an intraday high of $42.95 and a low of $33.67. Its 52-week range is between $7.49 and $42.95. Following its public debut, Ritholtz Wealth Management’s Josh Brown expressed skepticism, suggesting that investors might want to consider selling to capitalize on the surge.

NIO Inc NIO

NIO Inc. faced a challenging day, with its stock declining by 17.07%, closing at $8.55. The stock’s intraday high was $9.6, and it touched a low of $8.41. Over the past 52 weeks, NIO has ranged between $7 and $20.95. The Chinese luxury EV maker’s decision to raise $1 billion to refinance existing debt and bolster operating capital has raised questions among investors and analysts, including Citi's Jeff Chung, about the company’s future prospects and strategies.

Avinger Inc AVGR

Avinger Inc.’s stock soared, marking an impressive increase of 72.16% to close at $10.45. The stock reached an intraday high of $11.15 and a low of $8.2, with its 52-week range between $4.14 and $24.29. The surge followed the company’s announcement of the commercial launch of its Tigereye ST image-guided CTO crossing device, which has been described by Avinger’s Chief Medical Officer, Jaafer Golzar, as a significant advancement in their technology lineup.

Alibaba Group Holding Ltd BABA

Alibaba’s stock performance was relatively stable, with a slight increase of 0.10%, closing at $87.11. The stock’s intraday high and low were $87.88 and $86.08, respectively, and its 52-week range is between $58.01 and $121.3. Recent reports indicate Alibaba’s plans to invest $2 billion in Turkey, a move that was discussed during a meeting with Turkey’s President, Recep Tayyip Erdogan. This investment follows Alibaba’s previous $1.4 billion investment in Turkey’s largest e-commerce platform, Trendyol.

Tesla, Inc TSLA

Tesla’s stock saw a modest increase of 0.46%, closing at $266.5. The stock’s intraday high was $267.85, with a low of $261.2. Over the past 52 weeks, Tesla has ranged between $101.81 and $313.8. Despite the slight increase, GLJ Research analyst Gordon L. Johnson II issued a Sell rating on Tesla, highlighting potential demand problems and concerns about the company’s growth prospects in the coming years.

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