One of the most common questions traders have about stocks is “Why Is It Moving?”
That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why a stock is moving.
Here’s why shares of Alibaba, Snap, Intel and Nano Dimension are moving.
Alibaba Stock News
Alibaba BABA operates China's most-visited online marketplaces: the consumer-to-consumer-driven Taobao and business-to-consumer-focused Tmall.
Overall, Alibaba's China marketplaces accounted for 68% of revenue in fiscal year 2019. Taobao generated revenue through advertising and other merchant data services and Tmall derived revenue from commission fees.
Why are shares of Alibaba moving? Alibaba shares are trading higher after China's Central Bank said the company's Ant Group affiliate is exploring setting up a financial holding company.
Snap Stock News
Snap SNAP, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat. In the third-quarter Snapchat’s daily active users grew to 249 million from 210 million the year prior, an 18% increase.
Snap generates nearly all of its revenue from advertising, with 88% coming from the U.S. The firm is headquartered in Santa Monica, California.
Shares of Snap are trading higher after Goldman Sachs maintained a Buy rating on the stock and raised its price target from $47 to $70.
Intel Stock News
Intel INTC designs, manufactures and sells essential technologies for the cloud, smart and connected devices worldwide.
Intel has suffered recently from both lost and missed revenue opportunities: Apple AAPL deciding to produce their own M1 chip for the MacBook, and Sony SNE selecting AMD AMD for the PS5 video game console’s central processing unit and graphics processing unit.
Intel shares are trading higher after Dan Loeb's Third Point called on the company to explore strategic alternatives.
Nano Dimension Stock News
Nano Dimension Ltd - ADR NNDM provides additive electronics in Israel and internationally. Its flagship product is the proprietary DragonFly lights-out digital manufacturing system, a precision system that produces professional multilayer circuit boards, radio frequency antennas, sensors, conductive geometries and molded connected devices for prototyping through custom additive manufacturing.
Nano Dimension shares are trading higher after the company announced Tuesday it sold a DragonFly LDM system to an Academy of Engineering Physics in the Pacific Rim.
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