Major Companies Making Huge Moves in the Stock Markets on August 16, 2021
Crypto Engine is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today.
Today, we are bringing you the list of companies that have been making huge moves in the stock markets. The list not only carries the companies that have faced a positive impact but also the ones that have faced a negative trend.
The first company on the list is Sonos that has experienced a 4.5% increase in terms of its share prices. Sonos is famously known as the manufacturer of high-end speakers. The firm had recently filed a lawsuit against Google claiming that it had copied its audio technology patents, thus, filing an infringement complaint against it.
Fortunately for Sonos, the case was ruled in favor of the company by the International Trade Commission. As a result, a ban may get imposed over the audio speakers for Nest and Pixel smartphones for Google. Therefore, Google will be banned from importing the speaker components for the said devices.
The next company on the list is Tesla that has dark clouds looming over its empire and growth. The company has been facing a lot of scrutiny from the Chinese as well as the US regulators. Just recently, it was the NHTSA of the United States that has launched an investigation against Tesla.
The investigation has been launched as a result of the auto-pilot software system launched by Tesla that has resulted in many accidents and crashes. The NHTSA launched an investigation against Tesla on Monday, August 17, 2021. Since then, around a 4% drop has been recorded for the share prices of the electric vehicle company.
Then the next major fall observed is for Oil stocks. As of Monday, August 16, 2021, the oil stocks have experienced a drop, following China’s release of weak economic data. Since then, Diamondback Energy’s share prices have experienced over a 4% drop. On the other hand, Occidental Petroleum’s share prices have experienced a 4% decline.
Then the next company is Walmart that has experienced a 1% rise in its share prices. The price for the retail giant increased following the re-iteration provided by Jefferies for the buy rating. The platform reiterated investors on buying the stocks ahead of the results Walmart was going to share for its Q2 2021 earnings.
Walmart reported that it was expecting a promising and above estimation earnings report for the second quarter of 2021. This triggered a frenzy among the investors who flocked to purchase its shares.
The next company on the list is JD.com that has experienced a fall in its share prices. The mortgage company’s share prices experienced a 5% drop following its downward share adjustment per share. The company went ahead and adjusted its share price-earnings to 46 cents per share. This resulted in the company experiencing a downtrend for its stock prices.
Altcoin Directory is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (namely Branded Content Posts) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.