On March 11, 2025, the U.S. stock market opened with mixed movements. The Nasdaq Composite experienced a significant decline, marking its largest one-day percentage drop since September 13, 2022. This decline was primarily driven by the underperformance of tech stocks.
In the sector analysis, Chinese concept stocks showed notable gains, with Alibaba rising 4.19% and Xiaomi Corp. up 4.88%. The electric vehicle sector also saw significant activity, with NIO Inc. increasing by 8.18% and XPeng Inc. surging 10.98%.
In individual stock news, Oracle saw a 4.00% decline following disappointing quarterly earnings and revenue that missed estimates. Despite signing cloud agreements with major tech companies, the company's performance fell short of expectations, impacting its stock price negatively.
Tesla Motors experienced a 1.29% increase. Despite recent challenges, including a significant drop in market value and concerns over CEO Elon Musk's focus, the stock showed resilience. Canaccord Genuity maintained a buy rating on Tesla with a price target of $404.00 per share, indicating a positive outlook on the company's future performance.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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