Instacart, Nio, Avinger, Alibaba, Tesla: Why These 5 Stocks Are Trending Today

U.S. stocks experienced a downward trend as trading neared its close, with the Dow Jones witnessing a decline of over 100 points on Tuesday. The Dow decreased by 0.31%, settling at 34,517.73, while the NASDAQ experienced a drop of 0.23%, closing at 13,678.19. Similarly, the S&P 500 also saw a decline, falling by 0.22% to 4,443.95.

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

Maplebear Inc (CART: CART)

Maplebear Inc., popularly known as Instacart, made a notable debut, opening significantly above its IPO price. The stock’s performance for the day saw a rise of 12.33%, closing at $33.7, with an intraday high of $42.95 and a low of $33.67. Its 52-week range is between $7.49 and $42.95. Following its public debut, Ritholtz Wealth Management’s Josh Brown expressed skepticism, suggesting that investors might want to consider selling to capitalize on the surge.

NIO Inc (NYSE:NIO)

NIO Inc. faced a challenging day, with its stock declining by 17.07%, closing at $8.55. The stock’s intraday high was $9.6, and it touched a low of $8.41. Over the past 52 weeks, NIO has ranged between $7 and $20.95. The Chinese luxury EV maker’s decision to raise $1 billion to refinance existing debt and bolster operating capital has raised questions among investors and analysts, including Citi's Jeff Chung, about the company’s future prospects and strategies.

Avinger Inc (NASDAQ:AVGR)

Avinger Inc.’s stock soared, marking an impressive increase of 72.16% to close at $10.45. The stock reached an intraday high of $11.15 and a low of $8.2, with its 52-week range between $4.14 and $24.29. The surge followed the company’s announcement of the commercial launch of its Tigereye ST image-guided CTO crossing device, which has been described by Avinger’s Chief Medical Officer, Jaafer Golzar, as a significant advancement in their technology lineup.

Alibaba Group Holding Ltd (NYSE:BABA)

Alibaba’s stock performance was relatively stable, with a slight increase of 0.10%, closing at $87.11. The stock’s intraday high and low were $87.88 and $86.08, respectively, and its 52-week range is between $58.01 and $121.3. Recent reports indicate Alibaba’s plans to invest $2 billion in Turkey, a move that was discussed during a meeting with Turkey’s President, Recep Tayyip Erdogan. This investment follows Alibaba’s previous $1.4 billion investment in Turkey’s largest e-commerce platform, Trendyol.

Tesla, Inc (NASDAQ:TSLA)

Tesla’s stock saw a modest increase of 0.46%, closing at $266.5. The stock’s intraday high was $267.85, with a low of $261.2. Over the past 52 weeks, Tesla has ranged between $101.81 and $313.8. Despite the slight increase, GLJ Research analyst Gordon L. Johnson II issued a Sell rating on Tesla, highlighting potential demand problems and concerns about the company’s growth prospects in the coming years.

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