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Midday movers: Tesla, Coinbase, and more
(Updated - December 27, 2023 12:00 PM EST)
Investing.com -- Main U.S. indexes were largely unchanged Wednesday, stabilizing after recent gains during the last trading week of what has been a positive year.
Here are some of the biggest U.S. stock movers today:
Tesla (NASDAQ:TSLA) stock rose 2.2% with Bloomberg reporting that the electric car maker is preparing to launch a revamped version of its Model Y from its Shanghai plant.
Intel (NASDAQ:INTC) stock rose 0.4% after Israel's government agreed to give the tech giant a $3.2 billion grant for a new $25 billion chip plant it plans to build in southern Israel, in what would be the largest investment ever by a company in Israel.
Apple (NASDAQ:AAPL) stock fell 0.5% after Bloomberg reported that executive Tang Tan, who led design for the iPhone and Apple Watch, is set to join LoveFrom, a new artificial intelligence hardware project.
Coherus BioSciences (CHRS) stock soared over 20% after the U.S. FDA approved a new delivery service for its post-chemotherapy treatment.
Toyota (NYSE:TM) ADRs rose 0.4% after data showed the world's largest auto maker's global production jumped 11% in November to a record level, bouncing back from last year's supply chain disruptions.
Coinbase (NASDAQ:COIN) stock rose 6.7% with the cryptocurrency exchange benefiting from the bounce in bitcoin, the most widely used digital currency. Marathon Digital (Nasdaq: NASDAQ:MARA) and MicroStrategy (Nasdaq: MSTR) also gained.
Bit Digital (BTBT) stock rose 15% as the U.S.-based bitcoin miner plans to double its mining operating fleet to about 6.0 ether per second in 2024.
Cytokinetics (NASDAQ:CYTK) stock rose 70% after it reported positive results from its phase 3 study of aficamten in patients with symptomatic obstructive hypertrophic cardiomyopathy.
Iovance Biotherapeutics (NASDAQ:IOVA) stock fell 23% after announcing that the FDA placed a clinical hold on the IOV-LUN-202 trial in response to a recently reported Grade 5 (fatal) serious adverse event.
Additional reporting by Louis Juricic
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