The US stock market experienced a positive day on Monday, with major indices closing in the green. The Dow Jones Industrial Average gained 0.6% to finish at 40,896.53, while the S&P 500 climbed nearly 1%, closing at 5,608.25. The Nasdaq saw the most significant increase, ending the day up almost 1.4% at 17,876.77.
Several stocks caught the attention of retail traders and investors throughout the day, with notable gains for Nvidia Corporation (NVDA), Advanced Micro Devices, Inc. (AMD), Alzamend Neuro, Inc. (ALZN), Palo Alto Networks, Inc. (PANW), and Tesla Inc. (TSLA).
Nvidia closed the day up 4.35% at $130, reaching an intraday high of $130 and a low of $123.42. This surge came after Goldman Sachs reaffirmed a bullish stance on Nvidia, anticipating strong demand for its artificial intelligence (AI) solutions from cloud service providers and enterprises. The company’s earnings release is scheduled for August 28th.
AMD closed the day up 4.52% at $155.28, experiencing an intraday high of $155.37 and a low of $147.72. The stock’s rise was driven by the announcement of AMD’s acquisition of ZT Systems, a provider of AI infrastructure for hyperscale computing companies. The deal, valued at $4.9 billion in cash and stock, positions AMD to further its presence in the rapidly growing AI market.
Alzamend Neuro saw the most dramatic increase, closing the day up 188.18% at $5.85. The stock reached an intraday high of $15.06 and a low of $5.72. This surge followed the company’s announcement of a partnership with Massachusetts General Hospital for a groundbreaking Phase II clinical study of AL001, its potential treatment for patients suffering from PTSD. The study marks the first of its kind and holds significant promise for advancing treatment options for this debilitating condition.
Palo Alto Networks closed the day up 2.77% at $343.36, with an intraday high of $344.48 and a low of $335.11. The company exceeded analyst expectations for both earnings and revenue in its fourth-quarter report. Earnings came in at $1.51 per share, exceeding the estimated $1.41. Revenue reached $2.189 billion, surpassing the consensus estimate of $2.162 billion. This marks the fourth consecutive quarter where the company has exceeded earnings and revenue expectations, demonstrating strong performance and continued growth.
Tesla closed the day up 3.12% at $222.86, reaching an intraday high of $222.98 and a low of $214.09. The stock’s rise was accompanied by news of Tesla CEO Elon Musk denying rumors of ‘donating’ a Cybertruck to Russian leader Ramzan Kadyrov. This clarification addressed a recent media buzz surrounding the potential gift, which has since been dismissed by Musk.
