Trump's SPAC Partner Digital World, Novavax, Palantir, And Tesla: Why These Stocks Are Trending Today?

U.S. stocks experienced a downturn, with significant losses noted toward the end of trading. The S&P 500 fell approximately 1.4%, echoing the performance of the Dow and the NASDAQ, which declined by 1.3% and 1.9% respectively.

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

Novavax, Inc. NVAX closed with an 8.18% increase at $7.67, marking an intraday high of $8.15 and a low of $6.73. The stock's 52-week range is between $5.61 and $25.66. The surge followed the FDA's Emergency Use Authorization for Novavax’s updated Covid-19 vaccine, Adjuvanted (2023-2024 Formula), for individuals aged 12 and older. This development comes on the heels of similar approvals for Moderna and the Pfizer-BioNTech vaccines.

Palantir Technologies Inc. PLTR experienced a 6.23% decline to close at $14.9, with an intraday high of $15.77 and low of $14.82. The stock's 52-week performance ranged from $5.92 to $20.24. Despite the decline, Jim Cramer acknowledged on CNBC's “Mad Money Lightning Round” that Palantir had a “really good quarter” and lived up to the hype, with the stock up over 148% in 2023.

Digital World Acquisition Corporation DWAC saw a 1.88% increase, closing at $15.72, and marking an intraday range of $15.3 to $15.95, with a 52-week range of $12.34 to $29.8. The stock's movement is intertwined with the ongoing civil fraud case against Donald Trump, with developments in the trial potentially influencing investor sentiment.

Tesla, Inc. TSLA closed at $245, a 2.62% decline, with an intraday high of $250.02 and low of $244.45. The 52-week range is $101.81 to $299.29. The decline is attributed to the introduction of a cheaper Model Y variant in the U.S., sparking concerns about potential impacts on the company's profit margins.

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