Stocks Moving Midday: Robinhood, Nvidia, Intel
- Stocks for Robinhood, Nvidia, and Intel experienced significant trading movements at midday.
- Robinhood has faced negative sentiment from investors, while Nvidia continues to attract positive attention.
- Market analysts are closely monitoring these stocks to gauge future performance.
In midday trading on August 5, 2024, several cryptocurrency-related stocks experienced significant declines as Bitcoin fell below the $50,000 mark for the first time since February. Notable drops included Coinbase, which fell over 7%, and Marathon Digital, down more than 1%. Other tech stocks also faced losses, with Micron Technology and Arm Holdings each losing more than 2%, while Taiwan Semiconductor Manufacturing saw a decline of over 1%. Apple Inc. was another major player in the market downturn, with its shares dropping nearly 5% following the revelation that Warren Buffett's Berkshire Hathaway had sold off half of its stake in the tech giant. Berkshire's earnings filing indicated that its Apple holdings were valued at $84.2 billion at the end of the second quarter, suggesting a significant reduction of approximately 49% in its investment. Palantir Technologies also saw its stock decline by more than 2% as investors awaited the company's quarterly results. Analysts predict Palantir will report second-quarter revenues of $652 million, aligning with the company's own forecast. Other tech giants, including Amazon and Microsoft, also faced losses, with shares of Amazon falling over 4% and Microsoft down more than 3%. In the gaming sector, GameStop's stock dipped around 2% following the announcement that Game Informer, a publication under its ownership, was shut down after 33 years. Meanwhile, shares of electric vehicle manufacturer Lucid fell nearly 4% ahead of its upcoming second-quarter results.