In this article, we take a look at five stocks that are trending on Monday. If you want to take a look at some more stocks that are tending today and the latest market situation, go directly to Why These 10 Stocks Are Trending on Monday.
5. Tesla, Inc. (NASDAQ:TSLA) has fallen 2.7% as of 11:42 AM ET after CEO Elon Musk revealed that the company is facing ‘significant’ inflationary pressure. Mr. Musk also retweeted an article highlighting that commodity prices have been at their highest levels since 2008 due to the conflict between Russia and Ukraine. Metals like aluminum, nickel, and palladium have seen a significant surge in their price in the past month. All of them are used in different components of EVs. Of the 924 hedge funds in Insider Monkey’s database, 91 reported owning a stake in Tesla, Inc. (NASDAQ:TSLA) at the end of Q4 2021.
4. Apple Inc. (NASDAQ:AAPL) has tumbled 1.4% as of 11:53 AM ET after its key supplier Foxconn had to close down its operations, until further notice, after the Chinese government locked down Shenzhen city due to a rising number of COVID-19 cases. The Chinese government has a zero-COVID policy and still resorts to measures like lockdowns and mass testing on a massive scale. There have been reports that the government is allowing plants to continue operations if they can ensure that the employees are working and living in a bubble. Such development creates supply chain issues for corporations like Apple Inc. (NASDAQ:AAPL). As of Q4 2021, 134 hedge funds held a position in Apple Inc. (NASDAQ:AAPL), up from 120 in the previous quarter.
3. Las Vegas Sands Corp. (NYSE:LVS) has declined 9.7% as of 12:02 PM ET. More than 17.5 million people in the city of Shenzhen have been placed in lockdown for at least a week due to a significant increase in COVID-19 cases. The lockdowns have caused concerns amongst investors that there could be further restrictions impacting traveling to Macau and Hong Kong. Following this development, Macau has already placed quarantine restrictions for those traveling from some cities in Guangdong province and mainland China. Out of the 924 hedge funds being tracked by Insider Monkey, 34 funds held a position in Las Vegas Sands Corp. (NYSE:LVS) as of Q4 2021, compared to 40 hedge funds during Q3 2021.
2. Nokia Oyj (NYSE:NOK) has risen 5.2% as of 12:19 PM ET after the Finish multinational consumer electronics, IT infrastructure, and telecommunication company was upgraded from a Market Perform to an Outperform rating with a target price of $6.50 by Simon Leopold at Raymond James. The analyst observes an ‘improving competitive situation’ and the management having the confidence to rebuild the business. In the last 12 months, the stock price of Nokia Oyj (NYSE:NOK) has increased by nearly 20% and has outperformed the NASDAQ Composite Index, which experienced a decline of 4.6% during the same period. Overall, 26 hedge funds held a stake in Nokia Oyj (NYSE:NOK) at the end of Q4 2021.
1. Deutsche Bank Aktiengesellschaft (NYSE:DB) has surged more than 10.5% as of 12:27 PM ET after the Frankfurt, Germany-based bank took a U-turn and announced that it is ‘winding down’ its business in Russia. Last week, Deutsche Bank Aktiengesellschaft (NYSE:DB) announced that it would not stop operations in Russia, as its exposure in Russia and Ukraine was a ‘very small portion of the bank’s overall portfolio.’ According to Insider Monkey’s proprietary data, 14 hedge funds held a position in Deutsche Bank Aktiengesellschaft (NYSE:DB) at the end of Q4 2021, down from 15 in the preceding quarter.
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