Top 20 in US stock trading volume: Pinduoduo's Net Profit Plunges, Sending Its Stock Price Tumbling 13%
On Tuesday, Tesla topped the U.S. stock turnover list, closing up 6.94%. Tesla CEO Elon Musk said he has returned to a 7x24 work schedule. He posted on social platform X that he has gone back to "working 24 hours a day, seven days a week" and sleeping in conference rooms, server rooms, or factory facilities.
Musk stated that he must focus intensely on social platform X, AI company xAI, electric vehicle firm Tesla, and the Starship scheduled for launch next week, as these companies are all rolling out critical technologies.
Additionally, data from the European Automobile Manufacturers Association shows that Tesla sold 7,261 vehicles in Europe in April, a 49% year-on-year decline.
The second place was NVIDIA, up 3.21% with a turnover of $25.766 billion. NVIDIA is about to release its financial report. Strategists at BBVA noted that investors currently have approximately $7 trillion allocated to cash funds. If NVIDIA releases an upbeat earnings report, U.S. stocks could rebound driven by it.
Apple ranked third, closing up 2.53% with a turnover of $11.119 billion. Texas Governor Greg Abbott signed a bill on Tuesday requiring Apple and Google to verify the age of users in their app stores, making the second-most populous U.S. state a focal point in the debate over whether and how to regulate children and teenagers' use of smartphones.
Another draft legislation has passed the Texas House of Representatives and is awaiting Senate vote, which would restrict social media app usage for users under 18.
Microsoft ranked fifth, closing up 2.33% with a turnover of $9.585 billion. Three classic products in Microsoft's ecosystem are about to receive AI-powered enhancements, though these updates may not be available to all users.
Through this update, Notepad users will be able to use generative AI to compose text; Paint users can create AI-generated stickers; and Snipping Tool users can use a "perfect screenshot" feature.
Google A ranked seventh, up 2.63% with a turnover of $6.522 billion.
Meta Platforms ranked eighth, up 2.43% with a turnover of $5.909 billion. Recently, tech media outlet Business Insider reported that Meta is facing a severe AI talent drain crisis: 11 out of 14 initial creators of its open-source AI project Llama have left, with many joining rival Mistral AI. Most of these departures are long-time employees, and their exits directly threaten Meta's innovation capabilities in the AI field.
Pinduoduo ranked 11th, closing down 13.64% with a turnover of $5.102 billion. In the first fiscal quarter, Pinduoduo's total revenue was 95.6722 billion yuan, up 10% year-on-year, below the market forecast of 101.6 billion yuan.
Net profit attributable to Pinduoduo common shareholders was 14.7418 billion yuan, down 47% year-on-year; non-GAAP net profit attributable to common shareholders was 16.9160 billion yuan, down 45% year-on-year.
CoreWeave ranked 12th, up 20.66% with a turnover of $4.374 billion. Barclays downgraded CoreWeave's rating from "overweight" to "hold" on Tuesday, stating that while it is bullish on the stock long-term, short-term upside is limited.
AMD ranked 13th, up 3.85% with a turnover of $4.257 billion. HSBC upgraded AMD's rating to "hold" on Tuesday.
Intuit ranked 17th, up 4.42% with a turnover of $2.995 billion. Intuit's cumulative revenue in the first three fiscal quarters of 2025 rose to $15 billion, up 14.50% year-on-year. Net profit also showed a gratifying increase, up 16.93% year-on-year to $3.488 billion. Earnings per share increased from $10.65 last year to $12.45, demonstrating the company's strong profitability. These robust financial figures drove the stock price higher.
Applovin ranked 19th, up 7.51% with a turnover of $2.865 billion.