Tesla, Apple, Scilex Holding, Plug Power, Costco: Why These 5 Stocks Are Drawing Investors' Attention Today

U.S. markets ended mixed on Wednesday after economic data releases sparked fears of recession among investors and traders.

What Happened: The Institute for Supply Management said its non-manufacturing PMI declined to 51.2 last month from 55.1 in February, indicating the services sector slowed more than expected in March.

At the same time, JOLTS report showed job openings fell 632,000 to 9.9 million on the last day of February, recording the lowest level since May 2021, according to Reuters.

Meanwhile, following are the five stocks that are drawing investors' attention:

1. Tesla Inc TSLA: Shares of the company closed 3.67% lower on Wednesday. The company's manufacturing hub in Austin, Texas, more than tripled its employee ranks last year, reported Bloomberg citing what the company told county officials.

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2. Apple Inc AAPL: Shares of the company closed 1.13% lower on Wednesday. The company said more of its supply chain is committing to use renewable energy for manufacturing its products like iPhones, Macs among others, reported Reuters.

3. Scilex Holding Co SCLX: Shares of the company closed 56.57% higher on Wednesday. Scilex said it is postponing the annual shareholders' meeting due to the previously announced substantial underreporting of more than 44 million shares of its common stock by brokers, banks and other nominees.

4. Plug Power Inc PLUG: Shares of the company closed 8.51% lower on Wednesday and has lost over 17% since Monday after Morgan Stanley analyst Andrew Percoco downgraded the stock from ‘Overweight' to ‘Equal-Weight' and slashed the price target from $35 to $15. The decline in the stock price comes despite the company's announcement on Tuesday that it manufactured 122MW of Plug's 1MW electrolyzer stack platform in Q1 2023, hitting an all-time high.

5. Costco Wholesale Corporation COST: Shares of the company lost 0.12% on Wednesday and fell another 1.9% in extended trading. Costco reported net sales of $21.71 billion for the month of March, up 0.5% on a year-over-year basis. The company reported net sales of $137.77 billion for the 31-week period ended April 2.

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