Top 20 in US Stock Trading Volume: Applovin surges nearly 12% after earnings report
On Thursday, Tesla topped the US stock trading volume list, closing up 3.11% with a trading volume of $27.682 billion. According to informed sources, Prashanth Menon, Tesla's head in India, has submitted his resignation, and this comes at a crucial stage when the electric vehicle giant is finalizing the opening of its first showrooms in Mumbai and New Delhi.
Menon has been working for Elon Musk for nearly nine years and has been in charge of Tesla's Indian board for over four years. Tesla has not appointed a successor yet, and the Chinese team will temporarily manage the Indian business.
Nvidia, ranking second in trading volume, closed up 0.26% with a trading volume of $23.113 billion. According to multiple media reports, US President Donald Trump plans to cancel and revise the export controls on advanced artificial intelligence (AI) chips imposed by the Biden administration.
Palantir, ranking third in trading volume, closed up 7.85% with a trading volume of $14.876 billion. The stock has risen by more than 50% so far this year.
After Palantir recently released its financial report, it has won the favor of Wall Street analysts. The analyst team at Wedbush has raised Palantir's target price from $120 to $140 and asserted that it "has joined the ranks of the tech giants that define the era."
Apple, ranking fifth in trading volume, closed up 0.63% with a trading volume of $9.706 billion. Apple's silicon design team is developing new chips that will serve as the brains of future devices, including its first smart glasses, more powerful Macs, and AI servers.
It is reported that the company has made progress in the development of chips for smart glasses. This move indicates that Apple is stepping up the development of such devices to challenge Meta's Ray-Ban glasses.
In addition, it is reported that Apple is urgently seeking to suspend the enforcement of the injunction issued by Judge Rogers, which requires Apple to allow developers to add third-party payment links for in-app purchases. In its motion submitted to the Ninth Circuit Court, Apple stated that this "extreme intervention" in its App Store will cause "irreparable damage."
Apple emphasized that if these rules, which have never been determined to be illegal, are overturned, it will lead to "huge annual revenue losses" and weaken its ability to manage the core functions of the App Store.
Strategy, ranking sixth in trading volume, closed up 5.58% with a trading volume of $9.005 billion. US cryptocurrency-related stocks were strong on Thursday. According to the news, Bitcoin is approaching the $100,000 mark, rising by more than 2% on the day. In addition, Ethereum surged nearly 10% and is currently trading at $1,993 per coin.
Alphabet's Class A shares, ranking seventh in trading volume, closed up 1.92% with a trading volume of $8.833 billion. It is reported that the US Consumer Financial Protection Bureau (CFPB) terminated the designated regulatory order against Google Payment Corp on Thursday, overturning the decision made during the Biden era to regulate this non-bank financial platform.
Amazon, ranking ninth in trading volume, closed up 1.79% with a trading volume of $7.83 billion. Amazon announced the launch of a new artificial intelligence warehouse robot, which is said to have tactile perception capabilities. The robot named Vulcan can handle about three-quarters of the inventory items in the company's warehouses, tasks that were previously mainly done by human workers.
Aaron Parness, Amazon's director of applied science, said in a press release: "Vulcan represents a fundamental leap in robotics. It can not only see the world but also feel it, enabling functions that Amazon's previous robots could not achieve."
In addition, Zoox, Amazon's autonomous driving company, announced a software recall of 270 self-driving taxis on Thursday.
Applovin, ranking 12th in trading volume, closed up 11.88% with a trading volume of $4.947 billion. Applovin's revenue in the first fiscal quarter was $1.48 billion, a year-on-year increase of 40%, exceeding market expectations. The adjusted earnings per share was $1.67, also exceeding market expectations. Applovin agreed to sell its mobile gaming division to Tripledot Studios in London to focus on its ad tech business.
According to the documents, the marketing company headquartered in Palo Alto, California, will receive $400 million in cash and a 20% stake in Tripledot.
Adam Foroughi, AppLovin's CEO, told investors in February that the company "has never been a game developer" and revealed that the company was in exclusive negotiations to sell its mobile gaming division to a private company.
Eli Lilly, ranking 13th in trading volume, closed down 3.25% with a trading volume of $4.527 billion.
Boeing, ranking 18th in trading volume, closed up 3.31% with a trading volume of $2.933 billion. US Commerce Secretary announced at the White House on Thursday that the UK will purchase Boeing aircraft worth $10 billion as part of the US-UK bilateral trade agreement.And he said it was a private-sector purchase and that the airline making the purchase would announce the news.
House trade advisor Navarro said on Thursday, "We will keep an eye on Boeing."