Palantir Technologies saw its stock drop by 10.08%, closing at $112.06. The stock reached an intraday high of $125.41 and a low of $108.56, with a 52-week range between $20.33 and $125.41. The decline followed the Trump administration’s directive for the Pentagon to prepare for significant budget cuts, which could impact defense-related stocks like Palantir. The Pentagon’s budget cuts are expected to be 8% annually over the next five years.

Carvana’s stock decreased by 0.95%, closing at $281.82. The stock’s intraday high was $292.84, with a low of $280.20, and it has a 52-week range from $48.15 to $292.84. The dip came despite Carvana reporting a strong fourth-quarter performance, with revenue of $3.55 billion, surpassing estimates. The company also reported earnings of 56 cents per share, beating expectations.

Enovix saw a slight increase of 0.27%, closing at $11.19. The stock reached an intraday high of $11.42 and a low of $10.76, with a 52-week range between $5.70 and $18.68. The company reported fourth-quarter revenue of $9.72 million, exceeding expectations. However, soft guidance for future quarters tempered investor enthusiasm.

Grab Holdings’ stock rose by 0.75%, closing at $5.34. The stock’s intraday high was $5.37, with a low of $5.10, and it has a 52-week range from $2.98 to $5.72. The company’s shares have seen an upside after Singapore’s 2025 budget announcement as a 50% corporate income tax rebate could help businesses deal with rising costs.

Tesla’s stock increased by 1.82%, closing at $360.56. The stock reached an intraday high of $367.34 and a low of $353.67, with a 52-week range between $138.80 and $488.54. The rise follows news of Tesla’s expansion plans in India, as the company seeks to hire talent to support its growth in the region.