Yahoo Finance Trending tickers: Nvidia, Nikola, Carlsberg, Ocado
Nvidia (NVDA)
Premarket data suggests Nvidia stock is set to continue its downward tilt when markets open on Friday, after a tricky few days for the AI giant, with losses of around 2.5% chalked up for the open. Yesterday, the stock lost 3.5%.
The blip marks a breather from a staggering rally for the chipmaker, which has seen it dominate the stock market and, at one point, overtake Microsoft as the world's most valuable company. Since 2022 the stock is up more than 1,000% off the back of demand for its chips which are crucial components of computers needed to power AI.
Some market watchers have questions about whether Nvidia is now overvalued, slightly taking the wind from its sales in the last few days.
Nikola (NKLA)
Shares of Nikola (NKLA), which specialises in manufacturing large commercial-grade electric vehicles, fell more than 30% on Thursday, as it announced a one-for-30 reverse stock split that is set to go into effect after markets close on June 24.
The decision was made to try to revive some value in the struggling company and comply with Nasdaq listing rules — shares have already fallen by 75% over the last year.
Earlier this year, it missed expectations in its Q1 report, as it delivered fewer hydrogen fuel cell trucks. Its cash and cash equivalents at the end of the three-month period ended March 31 stood at $345.6m, down from $464.7m in the prior three months.
Carlsberg (CARL-B.CO)
Carlsberg stock fell more than 7.5% on Friday after Britvic (BVIC.L) rejected a £3bn takeover bid from the drinks giant.
Britvic said on Friday it had rejected the takeover bid, which it claimed "significantly undervalued" the business. Stock in the British drinksmaker surged in London on Friday, up 10.5% by mid-morning.
It's the latest example of foreign businesses swooping for London-headquartered or listed firms, as international buyers eye undervalued stocks.
Ocado (OCDO.L)
Grocery and warehousing tech company Ocado saw its stock rise 3.2% on Friday morning in London, on its final day of trade in the FTSE 100.
The equity is set to drop down to the FTSE 250 on Monday after six years in the index, swapping for LondonMetric Property.
Ocado heads down to the mid-cap index, which is typically a better gauge of the British economy than the FTSE 100. It moves alongside St. James’s Place and electronic-components maker RS Group.
