Welcome to Extreme Investor Network, where we provide you with the latest updates on companies making headlines in the financial world. Today, we’ll be discussing some key players in midday trading and how recent events are impacting their stock prices.
Tesla, the electric vehicle giant, saw a 7% increase in its stock value, adding on to last week’s 29% gain. Investors are optimistic about the company’s future under a potential Trump administration, driving the stock higher.
On the other hand, pharmaceutical company AbbVie witnessed a 12% drop in its shares after disappointing results from its schizophrenia drug trials. This news benefited competitor Bristol-Myers Squibb, whose shares rose nearly 12%.
Super Micro Computer, a server maker, faced an 8% decline in its stock as concerns lingered following its auditor’s resignation and weaker-than-expected quarterly results.
Crypto stocks continued to soar, with Coinbase seeing a 20% increase and trading above $300 for the first time since 2021. Investors are celebrating the period between Election Day and Inauguration Day, driving up shares of companies like MicroStrategy, MARA Holdings, and Riot Platforms.
Major banks like Wells Fargo, Bank of America, and Morgan Stanley also experienced gains, fueled by hopes of looser regulations and increased deal-making opportunities in the new administration.
Private prison stocks, such as Geo Group and CoreCivic, rose after President-elect Donald Trump appointed Tom Homan as his “border czar.”
In other news, Cigna’s shares surged 8% after announcing it will not be pursuing a merger with Humana. RadNet reported better-than-expected earnings and revenue, resulting in an 18% increase in its stock price.
Valley National Bank saw a 5% jump in its shares following an upgrade from JPMorgan, while Cboe Global Markets rose nearly 2% after receiving an upgrade from Deutsche Bank.
Stay tuned to Extreme Investor Network for more updates and insights into the ever-changing world of finance. Subscribe to our newsletter for exclusive content and expert analysis on market trends and investment opportunities. Join us on our journey to maximize your financial success!