In this article we will take a look at the some of notable stocks trending today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are Trending on Monday.
It’s a relatively quiet day on Wall Street with the Dow Jones up 0.14%, the S&P 500 up 0.08% and the NASDAQ 100 up 0.11%. Some stocks in the spotlight include Harley-Davidson, Inc. (NYSE:HOG), Moderna, Inc. (NASDAQ:MRNA), Tesla, Inc. (NASDAQ:TSLA), Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), XPeng Inc. (NYSE:XPEV), and NIO Inc. (NYSE:NIO). Let’s find out why each stock is trending and how elite funds are positioned among them.
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10. Tesla, Inc. (NASDAQ:TSLA) is up over 7% as technical trading in the stock continues. Tesla is also testing a program to let other manufacturers’ EVs recharge at some of Tesla’s supercharger stations. Currently the test program includes only 10 recharging stations in the Netherlands, however. Shares of Tesla, Inc. (NASDAQ:TSLA) have risen 63% year to date. Billionaire Elon Musk owns substantial shares in Tesla, Inc. (NASDAQ:TSLA).
9. Ford Motor Company (NYSE:F) is up 4.7% after the Wall Street Journal posted an article stating that Rivian is targeting an IPO valuation of slightly over $60 billion. Ford owns over 5% of Rivian from a past investment. Shares of Ford Motor Company (NYSE:F) may also be benefiting from Tesla’s rise as well. At Q2’s end, a total of 55 of the hedge funds tracked by Insider Monkey were long Ford Motor Company (NYSE:F).
8. General Motors Company (NYSE:GM) is up 1.6% on Monday as sentiment over some major carmakers improve. Although Tesla may have a much larger market cap than GM, General Motors Company (NYSE:GM) is planning on spending $35 billion on vehicle electrification by 2025 to compete. Warren Buffett’s Berkshire Hathaway owned 60 million shares of General Motors Company (NYSE:GM) at the end of June.
7. XPeng Inc. (NYSE:XPEV) is in the spotlight after it announced it has delivered 10,138 cars in October, up 233% year on year. Of the 10,138 cars, 6,044 units were of the P7 flagship sedan. XPeng Inc. (NYSE:XPEV) shares are up 8.6% year to date. Coatue Management was among the elite funds with holdings in XPeng Inc. (NYSE:XPEV) at the end of June.
6. NIO Inc. (NYSE:NIO) rose 3.2% on Monday after the company announced it delivered 3,667 vehicles in October of 2021, down 27.5% year over year. NIO Inc. (NYSE:NIO)’s delivery numbers fell due to the restructuring and upgrades of manufacturing lines and also the preparation of new products introduction. At the end of June, a total of 34 of the hedge funds tracked by Insider Monkey were bullish on NIO Inc. (NYSE:NIO), a change of 21% from the previous quarter.
Like Tesla, Inc. (NASDAQ:TSLA), Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), XPeng Inc. (NYSE:XPEV), and NIO Inc. (NYSE:NIO),Harley-Davidson, Inc. (NYSE:HOG) and Moderna, Inc. (NASDAQ:MRNA) are also trending.
Click to continue reading and see Why These 5 Stocks Are Trending on Monday.
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Disclosure: None. Why These 10 Stocks Are Trending on Monday is originally published on Insider Monkey.
