Top 20 U.S. Stocks by Trading Volume: Trump Suggests Musk Subsidy Probe

On Tuesday, Tesla topped U.S. stock volume at $43.27 billion, falling 5.34%. After President Trump posted on Truth Social calling for the Department of Government Efficiency to investigate subsidies for Musk’s companies.

 

Musk had criticized Trump’s “One Big Beautiful Bill” over the weekend, calling it “utterly insane and destructive.” In response to Trump’s latest post, Musk replied on X: “My stance is to eliminate all subsidies. Do it now.”

 

Trump then stated that DOGE would investigate Musk, claiming it could save the U.S. significant funds, saying, “Elon might be the most subsidized person in history, far exceeding others. Without these subsidies, he’d likely have shut down, returned to South Africa, with no rocket launches, no satellites, no EV production—saving our nation a fortune.”

 

Media reports indicate SpaceX and Tesla have contracts or subsidies with the U.S. government, though exact amounts remain unclear. Previous disclosures suggest Musk’s companies have received at least $38 billion in government subsidies, tax breaks, and contracts.

 

Second-ranked NVIDIA fell 2.97% with $32.65 billion in volume. The chip giant has entered the nuclear energy sector, participating in a $650 million funding round for TerraPower—founded by Microsoft’s Bill Gates—via its venture arm NVentures. This expansion reflects the AI era’s soaring energy demands.

 

TerraPower recently announced the round’s completion, backed by NVentures, Gates, and existing investors like South Korea’s HD Hyundai.

 

Third-ranked Apple rose 1.29% with $16.28 billion in volume. Reports suggest Apple is exploring Anthropic PBC or OpenAI’s AI tech to enhance the next Siri, with talks underway and tests of models trainable on Apple’s cloud infrastructure.

 

Fourth-ranked Palantir dropped 4.14% with $11.89 billion in volume. The company named Accenture’s federal services unit as its preferred implementation partner for U.S. government clients.

 

Their joint statement noted: “We will deploy commercial-grade AI solutions to address the federal agencies’ most urgent operational challenges, including optimizing critical workflows, enhancing decision-making, and boosting resilience.”

 

Seventh-ranked Meta Platforms fell 2.56% with $9.67 billion in volume. WhatsApp, under Meta, is adding AI features to its business suite, announcing voice call functionality for large enterprises Tuesday, enabling AI voice agent exploration.

 

The platform is also testing AI-driven product recommendations. With over 200 million monthly active users, WhatsApp Business is a key revenue driver for Meta, profiting from “Click to WhatsApp” ads and messaging fees. Though AI features are currently free, they may shift to paid services at scale.

 

Ninth-ranked Broadcom fell 3.96% with $7.68 billion in volume. Post-VMware acquisition, Broadcom has cut costs, reducing dealers and sending “cease use” legal letters to users whose support contracts expired and who declined its bundled VMware subscription.

 

Since November 2023, Broadcom stopped selling perpetual VMware licenses, pushing limited SKU bundles with multiple services. Forced bundling has spiked costs by up to 300% for some, prompting users to stick with old licenses despite Broadcom denying most support renewals.

 

This year, Broadcom began sending formal “cease use” notices, barring updates, patches, or upgrades (except zero-day fixes) for perpetual license holders unless they resubscribe or face legal action.

 

Tenth-ranked AMD fell 4.08% with $7.55 billion in volume.

 

Eleventh-ranked Netflix dropped 3.40% with $6.49 billion in volume. NASA announced a new streaming partnership, bringing space closer with NASA+ live programs on Netflix this summer, offering rocket launches, spacewalks, mission updates, and Earth views from the ISS.

 

Twelfth-ranked Strategy fell 7.65% with $6.40 billion in volume. Strategy (formerly MicroStrategy) bought 4,980 Bitcoin at ~$106,801 each ($531.9 million) from June 23-29, yielding 19.7% since early 2025. As of June 29, it holds 597,325 Bitcoin, bought at ~$70,982 each, totaling $424 billion.

 

Fourteenth-ranked Circle Internet rose 6.20% with $5.69 billion in volume, applying to establish a national trust bank in the U.S.

 

Fifteenth-ranked UnitedHealth gained 4.54% with $5.56 billion in volume, as the healthcare sector broadly rose Tuesday.