The Nasdaq 100 reached new record highs on Tuesday, surpassing the 23,000 mark, driven by a rally in chipmakers such as Nvidia. Investors were optimistic about Nvidia and Advanced Micro Devices resuming certain chip sales to China.
For the day, however, major indices were mixed with the Dow Jones Industrial Average falling nearly 1% to 44,023.29, while the S&P 500 declined 0.4% to 6,243.76. The Nasdaq ended the day higher at 0.2% at 20,677.80.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
MP Materials Corp. (NYSE:MP)
MP Materials shares soared 19.99% to close at $58.22, reaching an intraday high of $62.87 and a low of $52.89. The stock’s 52-week range is $10.02 to $62.87. In the after-hours trading the stock rose 3.5%. The surge followed the announcement of a long-term partnership with Apple to supply rare earth magnets made from 100% recycled materials, manufactured in the U.S.
Nvidia Corp. (NASDAQ:NVDA)
Nvidia’s stock rose 4.04% to $170.70, with a high of $172.40 and a low of $169.20. The 52-week range is $86.63 to $172.40. The increase was driven by the U.S. government’s decision to allow Nvidia’s H20 AI chips to be shipped to China. This move is expected to significantly boost Nvidia’s sales in China.
Advanced Micro Devices Inc. (NASDAQ:AMD)
AMD shares climbed 6.41% to $155.61, with an intraday high of $158.68 and a low of $153.56. The stock’s 52-week range is $76.48 to $179.75. The rally was part of a broader uptick in the AI chip sector, fueled by a $70 billion investment in U.S. AI and energy infrastructure.
Alibaba Group Holding Ltd. (NYSE:BABA)
Alibaba’s stock increased by 8.09% to $116.97, with a high of $117.22 and a low of $113.20. The 52-week range is $73.87 to $148.43. The stock’s rise was supported by the easing of U.S. chip curbs, which is expected to benefit Chinese tech companies, including Alibaba.
Tesla Inc. (NASDAQ:TSLA)
Tesla shares fell 1.93% to $310.78, reaching a high of $321.20 and a low of $310.50. The 52-week range is $182 to $488.54. The decline followed news of the departure of Troy Jones, the vice president of sales for North America, amidst increased scrutiny on Tesla’s autonomous driving technology.
Benzinga's Edge Stock Rankings indicate Tesla ranks poorly in the Short term in terms of Price Trend but checks out on Medium and Long term. Here is how the electric car maker fares on other parameters.
Prepare for the day’s trading with top premarket movers and news by Benzinga.
Photo Courtesy: thanmano on Shutterstock.com
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
