Major Wall Street indices fell over 1% on Monday after stronger-than-expected November ISM services data led to speculation the Federal Reserve will continue on its rate hike path, increasing the chances of recession. According to ISM, its non-manufacturing purchasing managers' index rose to 56.5 last month from 54.4 in October. Meanwhile, here are five stocks that are drawing retail investors’ attention:
1. Tesla Inc TSLA: Shares of the EV maker closed 6.37% lower on Monday. Tesla is planning to reduce production at its Shanghai factory, Bloomberg reported, citing people familiar with the matter. It will come into effect as soon as this week, with Tesla possibly cutting production by about 20% from full capacity, the report said.
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2. Apple Inc AAPL: Shares of Apple closed 0.8% lower on Monday. The company is said to be holding talks with Indian officials as the country is considering options to bring some of the iPad production to the nation from China, reported CNBC.
3. Ford Motor Company F: Shares of the automaker closed Monday’s session 3.5% lower. Ford and SK On have broken ground at BlueOval SK Battery Park, where their joint venture has invested $5.8 billion to produce advanced batteries for future Ford and Lincoln electric vehicles, slated to start production in 2025.
4. Gitlab Inc GTLB: Shares of Gitlab closed 7.12% lower on Monday but gained 19.36% in extended trading. The company’s third-quarter revenue increased 69% year-over-year to $112.98 million, which beat average analyst estimates of $106.5 million,
5. EHang Holdings Ltd EH: Shares of EHang Holdings closed 34.27% higher on Monday. The company announced that Nick Ning Yang has been appointed as a new director to its board, effective Monday.
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