In this article we will take a look at some notable stocks that were trending this week. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Were Trending This Week.
Among the stocks that trended this week include Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), Tesla, Inc. (NASDAQ:TSLA), General Motors Company (NYSE:GM), Toyota Motor Corporation (NYSE:TM), Micron Technology, Inc. (NASDAQ:MU), and United Airlines Holdings, Inc. (NASDAQ:UAL). Let’s find out why each stock was in the spotlight and how elite funds were positioned.
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10. Tesla, Inc. (NASDAQ:TSLA) is trending after the company announced it delivered 241,300 electric vehicles for Q3. Analysts were expecting deliveries of 220,900 for the same period per estimates compiled by StreetAccount as of the end of September. Given the rally in Tesla, Inc. (NASDAQ:TSLA) over the past few years, the market is expecting a lot more growth for Tesla, Inc. (NASDAQ:TSLA) in the future. Catherine D. Wood‘s ARK Investment Management owned more than 5.4 million shares in Tesla, Inc. (NASDAQ:TSLA) at the end of June.
9. General Motors Company (NYSE:GM) trended this week after it disclosed its U.S. sales fell to 446,997 vehicles in the third quarter, down from 665,192 in the same period of the prior year. General Motors Company (NYSE:GM)’s sales fell due to supply chain issues such as the semiconductor shortage. The supply chain issues might be only a short term headwind, however. GM exec Steve Carlisle said, “The semiconductor supply disruptions that impacted our third-quarter wholesale and customer deliveries are improving.” Of the around 873 elite funds in our database, 86 were long General Motors Company (NYSE:GM) at the end of Q2.
8. Toyota Motor Corporation (NYSE:TM) was in the spotlight this week after the company announced it sold 566,005 vehicles for Q3, 2021, up 1.4%. Although shares of Toyota Motor Corporation (NYSE:TM) fell more 4% this week, its shares are still up over 15% year to date. 12 elite funds we track were long Toyota Motor Corporation (NYSE:TM) at the end of the second quarter.
7. Micron Technology, Inc. (NASDAQ:MU) trended this week after it reported fiscal fourth quarter EPS of $2.42 and sales of $8.27 billion, versus estimates of $2.33 in EPS and $8.22 billion in sales. Although the company’s fourth quarter was stronger than expected, Micron’s guidance may have been weaker than estimates. Micron Technology, Inc. (NASDAQ:MU) sees fiscal first quarter revenue of $7.65 billion plus or minus $200 million. That compares to the average estimate of $8.57 billion for the same period. The number of elite funds in our database that were long Micron Technology, Inc. (NASDAQ:MU) fell to 87 in Q2, 2021 from 100 in Q1, 2021.
6. United Airlines Holdings, Inc. (NASDAQ:UAL) rallied more than 3.5% this week likely due to the Merck antiviral news. Although Merck’s antiviral, Molnupiravir, isn’t as effective as monoclonal antibody therapies, it is easier to administer and will likely be cheaper. If Molnupiravir can help end the pandemic sooner if it is approved, United Airlines Holdings, Inc. (NASDAQ:UAL) could benefit from more demand. The number of elite funds long United Airlines Holdings, Inc. (NASDAQ:UAL) rose by 1 from the prior quarter to 39 at the end of the second quarter.
Like Tesla, Inc. (NASDAQ:TSLA), General Motors Company (NYSE:GM), Toyota Motor Corporation (NYSE:TM), Micron Technology, Inc. (NASDAQ:MU), and United Airlines Holdings, Inc. (NASDAQ:UAL), Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT) also trended.
Click to continue reading and see Why These 5 Stocks Were Trending This Week.
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Disclosure: None. Why These 10 Stocks Were Trending This Week is originally published on Insider Monkey.
