The stock market experienced a significant downturn today, with tech stocks leading the decline. The Dow Jones slipped 1.65% to 47,457.22, the S&P 500 lost nearly 1.7% to 6,737.49, and the Nasdaq sank 2.29% to 22,870.35.
Fed officials expressed worries about persistent inflation, reducing hopes for rate cuts in December. The market’s sentiment shifted to risk-off, pulling CNN’s Fear & Greed Index back into “extreme fear” territory. As a result, tech and AI stocks faced substantial losses.
These are the top stocks that gained the attention of retail traders and investors through the day:
Applied Materials Inc. (NASDAQ:AMAT)
Applied Materials’ stock declined by 3.25%, closing at $223.23. The stock reached an intraday high of $229 and a low of $219.63, with a 52-week range of $123.74 to $242.44. In the after-hours trading, the stock fell by 4.52% to $213.15.
The company reported better-than-expected fourth-quarter earnings, with revenue of $6.8 billion, surpassing analyst estimates of $6.67 billion. The chip equipment maker’s adjusted earnings per share were $2.17, beating expectations of $2.10. The company attributed its performance to substantial investments in advanced semiconductors and wafer fab equipment driven by AI adoption.
Nu Holdings Ltd. (NYSE:NU)
Nu Holdings’ stock fell by 3.65%, closing at $15.59. It recorded an intraday high of $16.20 and a low of $15.48, with a 52-week range of $9.01 to $16.55. In the after-hours trading, the stock rose 2.95% to $16.05.
The company’s third-quarter earnings report showed better-than-expected results, beating analyst estimates on both top and bottom lines. The company reported quarterly earnings of 17 cents per share, which was higher than the estimates of 16 cents. Revenue for the period came in at $4.17 billion, which exceeded the consensus estimate of $3.8 billion.
Strategy Inc. (NASDAQ:MSTR)
Strategy’s stock dropped by 7.15%, closing at $208.54, with an intraday high of $226 and a low of $207.03. The 52-week range was $207.03 to $542.99.
MicroStrategy shares traded lower Thursday as Bitcoin (CRYPTO: BTC) slid, with analysts debating whether the crypto's four-year halving cycle is breaking down. Despite expanding its holdings to 640,808 BTC and posting a $12.9 billion year-to-date Bitcoin gain, the stock fell nearly 6% and hovered near a 52-week low. Analyst views remain mixed, with several firms maintaining bullish ratings but trimming price targets.
Virgin Galactic Holdings Inc. (NYSE:SPCE)
Virgin Galactic’s stock decreased by 8.56%, closing at $3.31. The stock’s intraday high was $3.60, and the low was $3.28, with a 52-week range of $2.18 to $8. In extended trading, the stock gained 3.6% to $3.43.
Virgin Galactic reported third-quarter revenue of $365,000, missing estimates, while its loss narrowed to $1.09 per share. Adjusted EBITDA improved to a $53 million loss, and the company ended the quarter with $424 million in cash. Virgin Galactic reaffirmed plans to begin commercial spaceflights in late 2026, with private astronaut missions expected to follow in early 2027.
Tesla Inc. (NASDAQ:TSLA)
Tesla’s stock fell by 6.64%, closing at $401.99. The stock reached an intraday high of $424.50 and a low of $396.34, with a 52-week range of $214.25 to $488.54.
Recently, Gary Black, Managing Director of Future Fund LLC, criticized Tesla’s focus on autonomy and robots, calling it a “fool’s narrative.” He highlighted the decline in Tesla’s global volumes and questioned the company’s high valuation amid competition in the autonomous vehicle market.
Benzinga’s Edge Stock Rankings indicate Tesla’s Growth is in the 51st percentile. Here is how it stacks up against other automakers.
Prepare for the day’s trading with top premarket movers and news by Benzinga.
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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