U.S. Stock Market Top 20 by Trading Volume: NVIDIA Hits Record High, Analysts Predict $6 Trillion Market Cap

On Wednesday, NVIDIA, the top-traded stock, rose 4.33% to a record high with $40.514 billion in trading volume, pushing its market cap above $3.76 trillion. NVIDIA held its online shareholder meeting on Wednesday.  

 

Loop Capital predicts NVIDIA’s market cap could reach $6 trillion, stating the AI trend driving its stock shows no signs of slowing and could propel the chipmaker’s valuation past others, a 65% increase from its current $3.6 trillion.  

 

Analyst Ananda Baruah wrote, “We’re entering the ‘golden wave’ of next-generation AI applications, with NVIDIA at the forefront of another stronger-than-expected demand cycle.” He raised NVIDIA’s price target from $175 to $250.  

 

Tesla, second, fell 3.79% with $38.986 billion in volume. Recent auto industry data shows Tesla facing steep challenges in Europe, with new car registrations in the EU, EFTA, and UK dropping 27.9% year-over-year in May to 13,863 vehicles.  

 

More concerning, Tesla’s EU market share slid from 1.6% last year to 0.9%, marking five consecutive months of sales declines. Analysts attribute this to consumers shifting to more affordable Chinese EV brands.  

 

France’s consumer regulator ordered Tesla to stop marketing its cars as FSD (Full Self-Driving), threatening a €50,000 daily fine for continued “deceptive marketing.”  

 

Coinbase Global, third, rose 3.06% with $10.575 billion in volume. Crypto stocks surged as the U.S. House prepares to vote on landmark crypto legislation, with Republican senators proposing a bill to allow crypto exchanges to register with the CFTC and reduce SEC oversight of digital assets.  

 

AMD, fourth, gained 3.59% to a seven-month high with $10.448 billion in volume. Most U.S. chip stocks rose on Wednesday.  

 

Circle Internet, fifth, dropped 10.79% with $10.166 billion in volume, down over 24% over two trading days.  

 

Reports on Wednesday said Cathie Wood’s ARK Investment Management sold about 1.5 million Circle shares worth $333 million over four trading days, viewed by analysts as routine profit-taking.  

 

Jefferies analyst Trevor Williams said, “We’re highly skeptical stablecoins can become a mainstream U.S. payment method. The card-based system is convenient, secure, and reward-rich, while stablecoins may lead to a poor consumer experience and lack new discounts or incentives.”  

 

He added that stablecoins’ appeal in the U.S. is likely limited to serving as a crypto trading on-ramp.  

 

Microsoft, seventh, rose 0.44% with $8.463 billion in volume. Wells Fargo said Microsoft’s AI revenue could exceed $100 billion, raising its price target to $585.  

 

Google’s Class A shares, eleventh, gained 2.34% with $5.866 billion in volume. Google launched its Gemini AI coding tool to attract developers.  

 

Strategy, fourteenth, rose 3.09% with $4.019 billion in volume. On Monday, it disclosed purchasing 245 Bitcoins for $26 million in the week ending June 22, funded by preferred stock issuance.  

 

SEC filings show Strategy holds 592,345 Bitcoins, valued at $6 billion at current prices, with an average cost of $70,681 per Bitcoin.  

 

Super Micro Computer, sixteenth, surged 8.80% with $3.93 billion in volume. The server maker plans to issue $2 billion in convertible notes due in 2030.  

 

CoreWeave, eighteenth, fell 7.60% with $2.951 billion in volume, down over 13% over three consecutive trading days.