The U.S. stock market experienced a positive trend as the trading day came to a close, with the Nasdaq Composite leading the gains by surpassing 100 points on Tuesday. The Dow also showed a strong performance, trading up 1.06% at 34,951.93 points, while the NASDAQ rose by 0.76% to reach 14,353.64 points. Additionally, the S&P 500 saw an increase of 0.71%, ending at 4,554.98 points.
Netflix Inc. (NFLX) Exceeds Expectations
Streaming giant Netflix closed the day with a remarkable gain of 5.50%, closing at $474.8. The stock’s intraday high reached $478.15, while the low was recorded at $448.78. Over the past year, Netflix stock reached a high of $478.15 and a low of $188.4. Analysts had projected the company to report $8.28 billion in revenue for the second quarter, and Netflix has consistently outperformed earnings per share estimates in six of the last seven quarters.
Carvana Co. (CVNA) Prepares for Earnings Report
Carvana witnessed a significant increase of 8.95% in its stock value, closing at $39.80. Throughout the trading day, the stock reached a high of $42.27 and a low of $36.32. Carvana Stock recently announced its plan to release its second-quarter financial results on Wednesday, which sparked a mixed reaction in the stock market.
Tesla Inc. (TSLA) Gains Momentum Ahead of Earnings
Tesla stock closed the day with a gain of 1.02%, reaching $293.34. The intraday high for Tesla was $295.26, while the low dipped to $286.01. Over the past year, the stock’s high and low have been recorded at $314.67 and $101.81 respectively. Market anticipation is building as Tesla is set to report its second-quarter earnings on July 19, after the market closes.
Microsoft Corp. (MSFT) Surges on Positive Announcements
Microsoft experienced a significant increase of 3.98%, closing at $359.49. The stock reached a high level of $366.78. Microsoft Stock made announcements regarding Bing Chat Enterprise and Microsoft 365 Copilot pricing, which triggered a positive reaction in the stock market. The company’s 52-week high and low stand at $366.78 and $213.43 respectively.
Rocket Lab USA Inc. (RKLB) Soars After Successful Satellite Launch
Rocket Lab USA Inc. (RKLB) has experienced a significant surge in its stock price, surpassing the penny stock threshold and reaching a 52-week high of $7.70, indicating an 11.7% increase. This boost follows the successful launch of seven satellites for NASA Space Flight Laboratory and Spire Global by Rocket Lab. This shift in sentiment could be significant, as the put/call volume ratio for Rocket Lab stock on various exchanges is higher than 91% of readings observed throughout the year.
The stock’s rise may also be fueled by other positive factors. Short interest in Rocket Lab USA stands at 22.99 million shares, which represents 6.2% of the stock’s available float. If these short positions start to unwind, it could create additional upward pressure on the stock.
Rocket Lab USA recently broke through a long-term resistance level at $6, and its 20-day moving average has been providing support since early May. Year-to-date, RLKB has seen an impressive 102.1% increase in its stock price.
Overall, the successful satellite launch by Rocket Lab USA has propelled its stock to new heights. With options traders betting on further upward potential and the possibility of short positions unwinding, the stock could continue its upward trajectory in the coming days.
Conclusion
These five stocks garnered significant attention from retail traders and investors during the trading day. Netflix demonstrated strong growth and exceeded revenue expectations, while Carvana prepares for its upcoming earnings report. Tesla gained momentum as the market eagerly awaits its second-quarter earnings announcement. Microsoft surged on positive announcements, and Rocket Lab’s successful satellite launch propelled its stock to new heights.
