Midday movers: Reddit, Tesla and Robinhood rise; GameStop falls

(Updated - May 17, 2024 12:36 PM EDT)

Investing.com -- Main U.S. indexes traded largely flat Friday, searching for direction after the major stock indices hit record highs and as the earnings season draws to an end.

Here are some of the biggest U.S. stock movers today:

  • Reddit (RDDT) stock rose 13% after the social media platform entered a partnership with artificial intelligence major OpenAI to add its content to the firm’s AI products.

  • Tesla (NASDAQ:TSLA) stock rose 2.5% after Reuters reported that the EV giant is moving forward with plans to use data from China to underpin the global development of its self-driving technology.

  • Take-Two (NASDAQ:TTWO) Interactive Software (TTWO) stock rose 0.5% despite it issuing disappointing annual earnings guidance, with the videogame publisher set to release its hotly awaited GTA VI title only in 2025.

  • DXC Technology (NYSE:DXC) stock sank over 16% after the information technology company offered disappointing annual guidance.

  • GameStop (NYSE:GME) stock fell 24%, continued to slip after plummeting 30% on Thursday as a rebound rally ran dry and it entered an agreement to sell common shares.

  • Boeing (NYSE:BA) stock was flat with the aircraft manufacturer’s shareholders set to vote on whether outgoing Chief Executive David Calhoun will retain his seat on the board of the embattled planemaker.

  • Xpeng (NYSE:XPEV) stock rose 0.5% after the Chinese EV manufacturer announced expansion plans, bringing a sports utility vehicle and minivan to Hong Kong.

  • HSBC (HSBC) ADRs fell 0.4% after Bloomberg reported that its top shareholder Ping An Insurance might be looking to cut its stake in the British bank.

  • Robinhood (NASDAQ:HOOD) rose 12% after BofA Securities upgraded the stock to 'buy' from 'underperform', citing rising engagement.

  • DuPont (NYSE:DD) rose 2.3% after Jefferies upgraded the stock to 'buy' from 'hold with a price target of $101, calling it a cyclical recovery trade.

Additional reporting by Louis Juricic

Begin trading today! Create an account by completing our form

Privacy Notice

At One Financial Markets we are committed to safeguarding your privacy.

Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.

Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.

Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.

By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.8% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Back to top

Office network

One Financial Markets is the trading name of Axi Financial Services (UK) Ltd, a company registered in England with company number 6050593. Axi Financial Services (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201) and the Financial Sector Conduct Authority in South Africa (with FSP number 45784).

The information on this site is not directed at residents of the United States, Belgium, Poland or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

www.onefinancialmarkets.com is owned and operated by Axi Financial Services (UK) Ltd.

Award winning broker
We have been presented with a number of awards that recognise the quality of our service and dedication to our clients :

Best FSA Regulated Broker
Saudi Money Expo

Best Education Product
Saudi Money Expo

Best Broker - Online Trading
IAIR Awards

Best Institutional Broker
Saudi Money Expo

Best FX Services Broker
CN Forex

Top International
FX Broker 2015

Saudi Money Expo

Broker of the Year
Online Trading – Middle East

IAIR Awards

Best Forex
Customer Service 2018

JFEX Awards

We accept the following payment methods: