The stock market demonstrated robust performance on Tuesday, with all three major indices recording notable gains. The S&P 500 climbed 1.45% to close at 4,497.63.
The tech-heavy NASDAQ outperformed other indices, surging 1.74% to close at 13,943.76. Meanwhile, the Dow Jones Industrial Average also had a positive day, posting a gain of 0.85% to close at 34,852.67.
Amidst this overall market optimism, several individual stocks grabbed the spotlight. Here are the top stocks that drew the attention of retail traders and investors throughout the day.
VinFast Auto Ltd. VFS had a challenging day, falling a whopping 43.84% to close at $46.25. The stock’s intraday high and low were $76.93 and $46, respectively, with a 52-week range between $93 and $11.61. The Vietnamese electric vehicle (EV) manufacturer, established by billionaire Pham Nhat Vuong, has seen its market capitalization skyrocket to a staggering $190 billion. This rapid ascent, marked by a 600% surge since its mid-August 2023 IPO, has positioned VinFast above the combined market valuations of industry stalwarts such as Ford Company, General Motors, Ferrari, and Stellantis N.V. Read the full story here.
See Also: VinFast’s Market Cap Skyrockets With 20% Stock Surge, Securing Third Position After Tesla And Toyota
Big Lots, Inc. BIG shares jumped 26.75% to close at $7.96, hitting an intraday high that was well above its 52-week low. Despite a 15.4% YoY decline in second-quarter FY23 sales, the company managed to surpass the consensus estimate, reporting sales of $1.14 billion. Bruce Thorn, President and CEO of Big Lots, highlighted the company’s strengthened balance sheet and the successful closure of a $294 million sale/leaseback deal. More details can be found here.
Class A shares of Alphabet Inc. GOOGL rose 2.72% to close at $134.57. The Class C GOOG shares closed 2.8% higher at $135.49. The company’s shares traded higher following announcements from the Google Cloud Next conference. The event showcased Google Cloud’s latest advancements in various domains, including Infrastructure, Data and AI, and Cybersecurity solutions. Find the complete story here.
Ambarella, Inc. AMBA shares increased 4.48% to close at $75.78. Despite reporting second-quarter results that beat estimates, the company issued weak guidance for the upcoming quarter. Fermi Wang, president and CEO of Ambarella, commented on the challenging near-term environment and the company’s anticipation for a return to growth in the next fiscal year. Read the full report here.
Tesla, Inc. TSLA shares soared 7.69% to close at $257.18, marking a significant intraday high. Tesla shares traded higher amid overall market strength, driven by a drop in Treasury yields following the release of new U.S. economic data. The company continues to be a favorite among retail investors, frequently trending on WallStreetBets. Get the full scoop here.
Photo by Jirapong Manustrong on Shutterstock
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