Tesla, Amazon, Coupang, Rivian, Beigene: Musk's Share Sale, Antitrust Lawsuit, Earnings Grab Retail Investors' Eyeballs

Zinger Key Points
  • Tesla shares closed over 7% lower on Wednesday following the news of Musk having sold 19.5 million shares of the automaker.
  • Amazon and Apple have been accused in an antitrust lawsuit on Wednesday of conspiring to jack up iPhone and iPad prices.
  • Coupang rose over 8% in extended trading on Wednesday after the company posted a record net income of $91 million in Q3.
Tesla, Amazon, Coupang, Rivian, Beigene: Musk's Share Sale, Antitrust Lawsuit, Earnings Grab Retail Investors' Eyeballs

Major Wall Street indices closed nearly 2% lower on Wednesday after the day was marred by uncertainties including the outcome of the mid-term elections and a sell-off in the cryptocurrency market. Binance walked away from a deal to acquire FTX.com Wednesday after examining the company’s financials. Cryptocurrencies such as Bitcoin BTC/USD and Ethereum ETH/USD saw another steep price decline on Wednesday following the news. Meanwhile, here are the five stocks drawing investor's attention today:

1. Tesla Inc TSLA: Tesla shares closed over 7% lower on Wednesday following the news of CEO Elon Musk having sold 19.5 million shares of the automaker worth nearly $4 billion between Nov. 4 and Nov. 8. Shares of the EV-maker have lost over 20% over the last month.

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2. Amazon.com, Inc. AMZN: Amazon and Apple Inc AAPL have been accused in an antitrust lawsuit on Wednesday of conspiring to jack up iPhone and iPad prices by removing nearly all other resellers of new Apple products from the retail giant’s website, reported Reuters. Shares of Amazon closed over 4% lower, while Apple shares ended Wednesday’s session over 3% down.

3. Coupang Inc CPNG: Shares of Coupang rose over 8% in extended trading on Wednesday after the e-commerce company posted a record net income of $91 million during the third quarter. Total net revenues rose 10% year-over-year to $5.1 billion, while total gross profit rose 64% to $1.2 billion.

4. Rivian Automotive Inc RIVN: Shares of the EV maker rose over 6% in extended trading despite the company posting a third-quarter net loss of $1.724 billion. Rivian said it is reaffirming its 2022 production guidance of 25,000 total units.

5. Beigene Ltd BGNE: Shares of the biotechnology company rose over 6% in extended trading on Wednesday after it registered an 82% rise in its product revenue at $349.5 million. The company’s net loss during the third quarter widened to $557.6 million from $438.1 million a year earlier.

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