Options Market Statistics: Faraday Future's Stock Quickly Reverses and Falls After Touching $3.90 Intraday High, Options Pop $Tesla Motors(TSLA)$ shares ended 1.50% higher on Friday. Its options trading volume was 2.32 million. Call contracts account for 52.8% of the total trading volume. The $177.5 puts expiring May 17 were traded most actively. Tesla is advancing plans to develop its self-driving technology by using data from China, as reported by Reuters Friday. The electric vehicle giant has expressed its desire to build a data center in China to develop artificial intelligence algorithms for autonomous vehicles. This would require a partnership with a local company. Additionally, Tesla has engaged i
Alibaba Boosts E-Commerce Edge With AI, Despite Shrinking Market Share Alibaba Group Holding Ltd , confronted by a fierce e-commerce market in China, is leveraging artificial intelligence to enhance its competitiveness. On Alibaba's Taobao platform, shoppers can utilize Wenwen, an AI chatbot, for personalized product recommendations, such as a $Sony(SONY)$ camera priced at approximately $650, tailored to the user's specifications, the Nikkei Asia reports. Introduced in 2023, Wenwen is powered by Tongyi Qianwen, or Qwen, a large language model developed by Alibaba's cloud division. In addition to aiding shoppers, Alibaba employs generative AI to streamline merchant operations, simplifying tasks like photo editing and virtual model
Microsoft, Meta Platforms, Applied Materials, and Other Tech Stocks in Focus Today Technology stocks are set to end the week in a quiet fashion as the market retreats from recent record-high levels. Futures for the technology-heavy Nasdaq 100 were up 0.1% early on Friday. The $NASDAQ(.IXIC)$ closed down 0.3% on Thursday. $Microsoft(MSFT)$ got a mixed message from regulators on Friday. The U.K.'s Competition and Markets Authority said it had closed its inquiry into the company's partnership with French artificial-intelligence company Mistral, finding that the deal doesn't qualify for investigation. However, the European
Reddit Shares +15% on OpenAI ChatGPT Deal, on Pace for Biggest Gain Since March Reddit and OpenAI have announced a partnership to bring the social media platform's content to ChatGPT. Shares of $Reddit(RDDT)$ . soared 15.3% Friday, lifted by the company's deal with OpenAI, putting the stock on pace for its biggest gain since March 25, 2024, when it rose 30% Dow Jones Market Data show. That gain came just days after the social media platform's initial public offering on March 21. The stock, which is trading around $65, is also on pace for its highest close since March 26, when it closed at $65.11. Reddit announced the partnership with OpenAI late Thursday, bringing the social media platform's content to OpenAI's ChatGPT and also giving
Options Market Statistics: Walmart Stocks Jump, Options Pop as Q1 EPS and Revenue Beat $Faraday Future Intelligent Electric Inc.(FFIE)$ shares ended 134.04% higher. Its options trading volume was 0.80 million. Call contracts account for 64.6% of the total trading volume. Faraday Future rose 134% on Thursday and is now up more than 4,000% for the week. A huge percentage of short interest on the stock is a major factor in the suddenbuying action. The electric vehicle had been trading for pennies before therecent rally, which prompted the company to receive a letter from Nasdaq indicating that it was not in compliance with listing rules. The market cap onFFlE is now back over $30M.
US Major Indexes Hit New Highs, Which Stocks Are Powering the Rally? On Wednesday, all three major averages closed at new records as inflation data came in lower than expected. The $DJIA(.DJI)$ rose 350 points, representing a gain of 0.88%, while the $S&P 500(.SPX)$ climbed 1.17%, closing above 5,300 for the first time. The tech-heavy $NASDAQ(.IXIC)$ also posted gains, ending the session 1.40% higher. What's behind the recent uptrend? The latest consumer price index (CPI) data released yesterday showed a lighter-than-expected inc
All Time Highs Came and Went | Wall Street Today The market simmered from all-time highs Thursday morning to close lower with 7000 decliners compared to 5900 advancing equities. Still, the $DJIA(.DJI)$ burst through 40k for the first time, and traded -0.1% at the time of the closing bell. The $S&P 500(.SPX)$ fell 0.21% after hitting an all-time high close Wednesday and setting a new record Thursday morning at 5325.46. The $NASDAQ(.IXIC)$ fell 0.26% and hit an all-time intraday high at 18,797.83. In Macro, U.S. initial jobless claims d
GameStop and AMC Frenzy Dies Down. Why Robinhood May Be the Last Meme Standing. The retail investor-led trading frenzy that reignited interest in the "meme stocks" of 2021 looked to have cooled by Thursday, as shares in $GameStop(GME)$ and $AMC Entertainment(AMC)$ retreated. But the events of the week put broker Robinhood Markets, whose trading app is popular among retail investors, back in the spotlight -- and its stock could be the real winner. This week saw 2021's meme stock frenzy redux as traders piled into companies that have cultivated a fan base among retail investors, with GameStop stock up 150% over the past five days, and AMC shares almost d
Coinbase Eyes Australian Pension Market With Bitcoin Service Tailored For Self-Managed Funds In a strategic move to tap into the burgeoning Australian pension market, $Coinbase Global, Inc.(COIN)$ is developing a service tailored to the self-managed pensions sector in Australia. What Happened: Coinbase, the largest cryptocurrency exchange in the U.S., is focusing on the self-managed pensions sector in Australia, a market that constitutes about a quarter of the country's $2.5 trillion pension system. The sector currently has approximately A$1 billion ($664 million) invested in cryptocurrencies, Bloomberg reported on Wednesday. John O'Loghlen, Coinbase's Managing Director for Asia-Pacific, revealed that t