Major Wall Street indices closed in the red on Wednesday as investors and traders lost optimism regarding any possible year-end rebound and braced themselves for the new year while lightening up on positions ahead of the end of the week. The Nasdaq Composite closed 1.35% lower on Wednesday while the S&P 500 declined 1.2%. The Dow Jones closed 1.1% lower. Meanwhile, here are the five stocks that are drawing investors’ attention today:
1. Tesla Inc TSLA: Shares of Tesla saw a surprise rebound on Wednesday, closing 3.31% higher. Elon Musk reportedly told employees they should not be "bothered by stock market craziness" after the EV maker’s shares plunged nearly 70% this year on concerns over softening demand for electric vehicles and Musk's distraction following the Twitter purchase. In an email sent to staff on Wednesday which was reviewed by Reuters, Musk said he believes Tesla will be the most valuable company on earth in the long term.
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2. Amazon.com, Inc. AMZN: Shares of Amazon ended 1.47% lower on Wednesday. The retail giant is considering launching a stand-alone app to watch sports content, according to a report by The Information that cited people who were briefed on the conversations. The move comes in the wake of CEO Andy Jassy doubling down on the company’s streaming ambitions.
3. Kala Pharmaceuticals Inc KALA: Shares of the company closed 218% higher on Wednesday and also gained 32% in extended trading. The company announced FDA acceptance of an investigational new drug (IND) application for its KPI-012 for the treatment of persistent corneal epithelial defect.
4. Minerva Neurosciences Inc NERV: Shares of the company closed 39% lower on Wednesday but has gained 4.2% in extended trading. Minerva said in a statement the FDA has confirmed it will not file the company’s new drug application for roluperidone for the treatment of negative symptoms in patients with schizophrenia.
5. Gorilla Technology Group Inc GRRR: Shares of Gorilla closed 47.25% higher on Wednesday but lost 6.54% in extended trading. The company announced on Tuesday evening that a government agency of a Middle Eastern country developing Smart Cities has communicated its intent to engage Gorilla to implement an expansive cybersecurity solution for one or more cities under development.
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