Meta Platforms, Nio, Tesla, XPeng, Enovix Corp: Top 5 Trending Stocks Today

U.S. stocks ended Wednesday mixed with the Nasdaq Composite closing 0.12% lower at 14,127.28. The Dow closed up 0.23% to 35,520.12. The S&P 500 ended the day in the red lower by 0.02% at 4,566.75. The Federal Reserve raised interest rates on Wednesday to 5.5%, the highest since early 2001. The move by the central came after a brief hiatus in hikes in June.

These are the top stocks that gained the attention of retail traders and investors throughout the day:

Meta Platforms META

Meta Platforms closed the day with a gain of 1.39%, closing at $298.57. The stock had an intraday high of $301.77 and a low of $291.9. The 52-week high is $318.68 and the 52-week low is $88.09. The company reported second-quarter revenue of $32 billion, which was up 11% year-over-year. The revenue total came in ahead of a Street consensus estimate. Earnings per share totaled $2.98 in the second quarter, beating a Street consensus estimate of $2.91.

NIO Inc NIO

NIO had a significant gain of 10.58%, closing at $13.17. The stock had an intraday high of $13.38 and a low of $12.21. The 52-week high is $22.74 and the 52-week low is $7. NIO shares traded higher on upward momentum alongside several Chinese names after China announced broad measures aimed at optimizing its business environment. NIO is among several Chinese names rising on the news.

Tesla, Inc. TSLA

Tesla closed the day with a slight drop of 0.35%, closing at $264.35. The stock had an intraday high of $268.04 and a low of $261.75. The 52-week high is $314.67 and the 52-week low is $101.81. Tesla’s new vehicle market share in California stood at 13.6% in the year-to-period, according to data released by the California New Car Dealers Association. This exceeded Toyota Motor Corp.’s share of 12%.

XPeng, Inc. XPEV

XPeng had a significant gain of 26.69%, closing at $19.46. The stock had an intraday high of $21.83 and a low of $17.55. The 52-week high is $25.91 and the 52-week low is $6.18. XPeng announced its entry into a long-term, strategic partnership with the Volkswagen Group. The Volkswagen Group will purchase 4.99% of XPENG’s outstanding shares at $15 per American depositary share, for a total consideration of approximately $700 million.

Enovix Corporation ENVX

Enovix Corp closed the day with a gain of 3.05%, closing at $19.6. The stock had an intraday high of $20.06 and a low of $18.81. The 52-week high is $26.3 and the 52-week low is $6.5. The company reported quarterly losses of 19 cents per share which beat the analyst consensus estimate of losses of 22 cents. The company reported quarterly sales of $42,000, which missed the analyst consensus estimate of $60,000.

Image Courtesy: Shutterstock.com

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