Top 20 U.S. Stocks by Trading Volume: UBS Warns of Fundamental Overvaluation in Tesla Stock

Tesla closed down 0.35% with a trading volume of $24.774 billion, ranking first. Ahead of its Q2 earnings on July 23, UBS maintained a “Sell” rating and a $215 target price, citing Tesla’s stock as “fundamentally overvalued” despite potential short-term boosts from delivery growth and favorable exchange rates.

 

UBS predicts Q2 EPS at $0.43 with a 14% auto gross margin (excluding regulatory credits), slightly above the 13.5% market consensus, but warns of declining regulatory credit income and rising policy uncertainties.

 

UBS also questioned CEO Elon Musk’s focus on long-term projects like robotaxis and AI over core business, expecting the Q2 earnings call to emphasize future plans rather than current vehicle demand. Analysts’ average target price is $293.38 with a “Hold” consensus, suggesting a 7.4% downside from current levels.

 

NVIDIA closed down 0.60% with a trading volume of $20.887 billion, ranking second. CEO Jensen Huang sold 75,000 shares on July 18, worth $12.94 million, and has offloaded 1.35 million shares since June 20, totaling $215 million.

 

Apple closed up 0.62% with a trading volume of $10.929 billion, ranking third. Morgan Stanley expects Apple’s Q3 results to exceed Wall Street forecasts.

 

Amazon closed up 1.40% with a trading volume of $9.077 billion, ranking fourth. Ahead of its Q2 earnings on July 31, analysts expect EPS of $1.32 and revenue of $162 billion, up 4% and 9% year-over-year, respectively.

 

Amazon plans $104 billion in 2025 capital expenditure, the highest among S&P 500 companies, covering computing infrastructure, warehouses, and logistics. In June, Amazon announced at least $30 billion for data center projects in Pennsylvania and North Carolina.

 

Google Class A shares closed up 2.72% with a trading volume of $8.578 billion, ranking fifth. Google reiterated its commitment to platform safety, banning illegal gambling ads in India.

 

Coinbase Global closed down 1.47% with a trading volume of $7.182 billion, ranking sixth. CEO Brian Armstrong tweeted, “GENIUS is the first federal crypto bill signed into law, with more to come. The financial revolution starts here.”

 

Netflix closed up 1.99% with a trading volume of $6.856 billion, ranking ninth. UBS raised its target price from $1,450 to $1,495, maintaining a “Buy” rating, citing strong revenue growth and operating leverage, though some institutions, including InvestingPro, suggest its $515 billion valuation may be slightly high.

 

Opentable closed up 42.67% with a trading volume of $6.844 billion, ranking tenth.

 

Meta Platforms closed up 1.23% with a trading volume of $6.66 billion, ranking eleventh. Meta’s AI division, exceeding 3,400 employees, includes AGI research, AI product, foundational AI, and Llama teams, led by Scale AI founder Alexandr Wang and former Github CEO Nat Friedman, with Wang also serving as Meta’s Chief AI Officer.

 

Robinhood Markets closed down 4.92% with a trading volume of $4.934 billion, ranking fourteenth. Guosen Securities rated it “Outperform,” highlighting its push into RWA tokenization, financial AI, stock token products, and a self-developed Layer2 blockchain.

 

Its Cortex AI assistant is expected to boost user engagement and trading volume, with projected revenues of $4.14 billion, $5.53 billion, and $7.37 billion for 2025-2027, and net profits of $1.91 billion, $2.79 billion, and $3.97 billion, respectively. Risks include AI underperformance and market volatility.

 

Block closed up 7.22% with a trading volume of $3.853 billion, ranking eighteenth. The payment platform, formerly Square, will join the S&P 500 on July 23, replacing Hess, which is being acquired by Chevron.