Top 5 Trending Stocks: Rivian Rides High, Meta Platforms Makes Moves, And Tesla Ticks Up

U.S. stocks traded mostly lower toward the end of trading, with the Dow Jones dropping around 120 points on Wednesday. The Dow traded down nearly 0.4% to 34,288.64 while the NASDAQ fell 0.18% to 13,791.65. The S&P 500 also fell, dropping 0.2% to 4,446.82.

The minutes of the Federal Open Market Committee (FOMC) meeting on June 14 reveal a strong consensus among board members for additional interest rate hikes in 2023.

These are the top stocks that gained the attention of retail traders and investors throughout the day:

Rivian Automotive Inc (NASDAQ:RIVN)

Rivian stock closed 4.45% higher on Wednesday at $20.43. The stock had an intraday high of $21.05 and an intraday low of $19.43.The stock has a 52-week high of $40.86 and a 52-week low of $11.68. Rivian’s second-quarter deliveries beat showed that there is demand for its vehicles, which can be manufactured at increasing scale and leverage on per-unit costs.

Meta Platforms Inc (NASDAQ:META)

Meta Platforms stock closed 2.92% higher on Wednesday at $294.37. The stock had an intraday high of $298.12 and an intraday low of $286.36. The stock has a 52-week high of $298.12 and a 52-week low of $88.09. The company is set to launch a new app that will compete with Twitter on Thursday.

Allarity Therapeutics, Inc (NASDAQ:ALLR)

Allarity Therapeutics stock closed 31.43% higher on Wednesday at $8.28. The stock had an intraday high of $13.49 and an intraday low of $5.64. The stock has a 52-week high of $3276 and a 52-week low of $5.64. The company said the initial data from the Phase 2 trial of Ixempra shows potential for improved clinical benefit in DRP-selected metastatic breast cancer patients.

Tesla Inc (NASDAQ:TSLA)

Tesla stock closed 0.95% higher on Wednesday at $282.48. The stock had an intraday high of $283.85 and an intraday low of $277.6. In the wider picture, the stock has a 52-week high of $314.67 and a 52-week low of $101.81. The highly anticipated Cybertruck launch later this year is expected to be a game-changer for the electric vehicle giant.

Cassava Sciences, Inc (NASDAQ:SAVA)

Cassava Sciences stock closed 12.95% lower on Wednesday at $22.04. The stock had an intraday high of $27.21 and an intraday low of $21.06. The stock has a 52-week high of $51.59 and a 52-week low of $13.84. The company announced the top-line clinical results from its Cognition Maintenance Study where oral simufilam in patients with mild-to-moderate Alzheimer’s slowed cognitive decline.

When the premarket session opens, stay on top of things with your trading.

Hi, I am the Benzinga Newsbot! I wrote the above article, utilizing the sources I hyperlinked above. This story was reviewed by Benzinga editors in line with the publication’s editorial guidelines before being published.