CBC Daily Digest

Gainers in the stock market

1. Symbotic Inc. (SYM) Compare 27.51 +4.27 (+18.37%) At close: 4:00 PM EDT 27.85 +0.34  (+1.24%)

                Symbotic Inc. (SYM) stock gained due to some reasons:

• Fast Growing Revenue: Symbotic’s business is growing enormously. Its revenues were virtually 60 percent more than what it was a year ago. 

• Positive Outlook from Analysts: Many stock analysts believe that the price of the stock will increase. Some have estimated that it could rise to as much as $43 per share.

• Cutting-Edge Technology: Symbotic does produce some of the most complex robots and AI solutions for warehouses currently known. That brings investor attention towards the company.

2. Trump Media & Technology Group Corp (DJTWW) 16.16 +2.38(+17.25%)

                These are few reasons for the increase in this stock are:

• Launched Streaming App: Trump’s Truth Social launched its Streaming App for Android Phones. It has news, shows and other video content,.

• Useful Features: It has convenient features that include live TV buffering, Spanish, and recording, allowing you to watch the shows at a convenient time.  

• Reaching More Users: Starting on Android is beneficial because it opens the platform to so many more people. This strengthens the investors’ confidence.

3. Celsius Holdings, Inc. (CELH) 34.91+4.40(+14.42%)  At close: 4:00 PM EDT 35.50+0.59(+1.69%)

                  The reasons for the gradual rise in the stock are-

• Significant Retail Interest: However, many individual/retail investors remain very keen on the Celsius stock. Some believe it could bounce back to that recent high, after coming down slightly.

• Valuable Partnership: Celsius’ collaboration with PepsiCo enhances its distribution and its capacity for growth more so when some orders were noted to have been cut.  

Financial Growth: Celsius has been presented positive financial outcomes and increased market share competitiveness in the energy drink product category. It is well-placed given the expansion of the market for drinks with more focus on fitness.

Trending stocks for this week

Market Buzz: Uncovering Hottest Trends in the Market

1. Tesla, Inc. (TSLA)   238.77-2.28(-0.95%)  At close: 4:00 PM EDT   239.68+0.91(+0.38%)

              Tesla's stock is trending for several reasons:

• Robotaxi Reveal: Tesla’s much-awaited “Robotaxi” event is scheduled to take place on October 10, 2024, where investors believe the company will demonstrate its self-driving taxi service.

• Strong Vehicle Sales: Tesla stated that the global sales of its cars in the Q3 of 2024 have raised by 6.4% indicating continuous demand despite recent volatility in the market.

• Full Self-Driving (FSD) System Expansion: Tesla has moved on to Cybertruck owners to extend the FSD system which has enhanced the subscription on autonomy gear.

2. Advanced Micro Devices, Inc. (AMD) 164.18-6.84(-4.00%)  At close: 4:00 PM EDT 164.60+0.42(+0.26%)

               These are the few reasons for the stock to trend-

• Advancing AI Event: Last month AMD hosted a new “Advancing AI” event to reveal new solutions based on Artificial Intelligence and products, including the next generation of AMD Instinct accelerators.

• AI Market Growth: AMD has set its sights on becoming a key player in the worlds of artificial intelligence and data centers, where it is up against competitors like NVIDIA.

• Investor Sentiment: While there have been movements in the stock price, the firm has received positive forecasts from various analysts, with AMD being suggested as a growth stock for the year 2024.

3. CrowdStrike Holdings, Inc. (CRWD) 314.92+16.58(+5.56%)  At close: 4:00 PM EDT 315.70+0.78(+0.25%)

             CrowdStrike Holdings, Inc. (CRWD) is trending upwards for some reasons:

• Positive Analyst Sentiment: Analysts at RBC Capital Markets have recently highlighted CrowdStrike as one of their favourite software picks for 2025. This optimism has attracted investors most especially after the numeration of CrowdStrike when suffered a software update that affected several systems in July. RBC opines that the stock is now well placed for long term growth thus increasing the confidence in the stock.

• Strong Revenue Growth Projections: It indicates that CrowdStrike has been growing steadily: The Company has set its ARR for the fiscal ending in 2024 above $3.4 billion. Other industry analysts have predicted that the firm will achieve its seemingly lofty goal of $10 billion ARR by 2031, which has investors excited.

Recovery from Recent Challenges: Despite the criticisms it received after the July outages including some of its top clients such as Delta Air Lines, CrowdStrike is gradually gaining its footing. Nonetheless, CrowdStrike is still standing higher than 23% year to date, proving its stability and more investors’ attention because of the incident.