Top 20 in US Stock Trading Volume: Palantir Drops by More Than 12% After Earnings Report

On Tuesday, Palantir, which ranked first in US stock trading volume, closed down 12.05%, recording its largest decline since April 4, with a trading volume of $21.599 billion. Although the company released impressive first-quarter financial results and raised its full-year performance guidance, the market is still concerned about its future growth slowdown and believes that "high expectations have already been priced into the stock price."

 

According to data from FactSet, analysts expect the growth rate of the company's adjusted earnings per share to drop from 62.5% in the previous quarter to 46.1% in the quarter ending in June, and further slow down to 38% in the quarter ending in September. In other words, despite its strong current performance, the growth momentum may be on the decline.

 

Palantir's valuation has also become expensive. Currently, its price-to-earnings ratio for the next 12 months is approximately 189 times, far higher than the average of about 98 times since its listing in 2020.

 

Tesla, ranking second, closed down 1.75%, with a trading volume of $20.622 billion. Tesla's sales in major European electric vehicle markets continued to decline in April, despite the company launching the latest version of its popular model.

 

The Society of Motor Manufacturers and Traders in the UK said on Tuesday that the company registered only 512 new cars in the UK last month, a year-on-year decrease of 62%. Tesla's sales in Denmark, the Netherlands, and Sweden declined even more significantly, with the lowest drop reaching two-thirds.

 

Although Tesla has started delivering the revamped Model Y sport utility vehicle (SUV) to customers, its sales still plunged in eight out of the top ten European electric vehicle markets. At the beginning of this year, the adjustment of production lines at its global assembly plants, including those in Germany, led to the loss of several weeks of production, resulting in its quarterly sales being the worst since 2022.

 

Hims & Hers Health, ranking fifth, closed up 18.12%, with a trading volume of $7.248 billion. So far this year, the stock has risen by more than 100%.

 

The company delivered better-than-expected financial results due to a surge in sales and user numbers. Its earnings per share in the first fiscal quarter reached $0.20, and its revenue soared 111% year-on-year to $586 million, both exceeding market expectations. The total number of subscribers increased by 38% to 2.37 million, and the average monthly online revenue per user increased by 53% to $84.

 

The company expects its revenue for this quarter to be in the range of $530 million to $550 million, lower than the analyst consensus estimate. This conservative outlook stems from the company's strategic adjustments: discontinuing the provision of generic versions of Novo Nordisk weight-loss drugs Wegovy and Ozempic, and changing its sexual health product plans.

 

The company announced in February that, in view of the US Food and Drug Administration (FDA) determining that semaglutide is no longer in short supply, it will stop selling compound weight-loss therapies containing this ingredient after the first quarter.

 

Andrew Dudum, co-founder and CEO, explained in a letter to shareholders that the transformation of the sexual health business aims to "focus investments on long-term value creation, even if it may create headwinds for the business in the short term."

 

Microsoft, ranking sixth, closed down 0.66%, with a trading volume of $6.504 billion. At Meta's first LlamaCon developer conference on Tuesday, Microsoft CEO Satya Nadella said during a conversation with Meta CEO Mark Zuckerberg that 20% to 30% of the code in the company's repository is "written by software" - that is, written by AI.

 

Meta Platforms, ranking seventh, closed down 2%, with a trading volume of $6.138 billion.

 

Eli Lilly and Company, ranking ninth, closed down 5.64%, with a trading volume of $4.662 billion. The company's dividend per share for the first quarter of 2025 was $1.50. UBS lowered Eli Lilly's target price from $1,100 to $1,050 and maintained a "buy" rating.

 

Vertex Pharmaceuticals, ranking 13th, closed down 10.03%, recording its largest decline since October 15, 2020, with a trading volume of $3.481 billion. The company reported non-GAAP diluted earnings per share of $4.06 for the first quarter on Monday evening, lower than $4.76 a year ago.

 

UnitedHealth Group, ranking 16th, closed down 2.54%, with a trading volume of $3.107 billion.

 

Taiwan Semiconductor Manufacturing Company Limited (TSMC), ranking 19th, closed down 2.34%, with a trading volume of $2.338 billion. According to media reports, due to the low yield rate of Samsung's advanced process and the impact of the US Trump administration's tariff policy, AMD, a major processor manufacturer, may have cancelled its 4nm process orders from Samsung and instead placed orders with TSMC's Arizona wafer fab in the United States.

 

The report said that AMD has traditionally adopted a dual foundry supplier strategy. AMD also planned to widely cooperate with Samsung Foundry's 4nm process, not limited to EPYC server processors, but also including Ryzen APUs and Radeon GPUs and other products. But now AMD plans to cancel its 4nm orders from Samsung Foundry and is more inclined to place orders at TSMC's Arizona wafer fab in the United States.

 

Currently, TSMC's Arizona wafer fab in the United States has started mass production of the 4nm process. Especially after the US Trump administration is about to introduce tariff policies for semiconductors, major US chip design companies such as NVIDIA, Apple, and AMD have also started placing orders for the 4nm process at TSMC's Arizona wafer fab one after another, in order to reduce the impact of future US semiconductor tariff policies. Among them, AMD recently announced that its fifth-generation EPYC server processors have been produced at TSMC's Arizona wafer fab one.