The U.S. stock market closed lower on Monday, with major indices experiencing declines. The Dow Jones Industrial Average slipped 0.9% to 41,954.24, while the S&P 500 dipped nearly 1% to 5,695.94. The Nasdaq dropped 1.2% to 17,923.90.
Several stocks garnered attention from retail traders and investors throughout the day. Here’s a breakdown of some notable movers:
Alibaba Group Holding Limited (BABA)
Alibaba’s stock rose by 2.61% to close at $117.52, reaching an intraday high of $117.82 and a low of $113.37. The stock’s continued rise is likely attributed to China’s recent announcement of stimulus plans, which included a cut in banks’ reserve requirement ratio and a decrease in the seven-day reverse repurchase rate.
Nvidia Corp (NVDA)
Nvidia’s stock increased by 2.24% to close at $127.72, hitting an intraday high of $130.64 and a low of $124.95. However, it’s worth noting that Nvidia’s GPU revenue could be at risk as China prioritizes domestic AI chips.
Riot Platforms Inc (RIOT)
Riot Platforms’ stock surged by 3.95% to close at $8.16, reaching an intraday high of $8.52 and a low of $7.9. The company’s CEO has expressed interest in AI opportunities while maintaining a focus on Bitcoin mining.
Celsius Holdings Inc. (CELH)
Celsius Holdings’ stock faced a decline of 4.73%, closing at $28.82. The stock hit an intraday high of $30.42 and a low of $28.79, reaching a new 52-week low. This downturn is attributed to slowing growth trends, weaker consumer spending, and analyst downgrades. Despite the stock’s decline, Celsius announced the launch of two new flavors under its Essentials line, expected in early 2024.
Tesla, Inc. (TSLA)
Tesla’s stock dropped by 3.70% to close at $240.83, reaching an intraday high of $249.83 and a low of $240.7. Investors are eagerly awaiting Tesla’s “We, Robot” event scheduled for Thursday.
