Stocks making the biggest moves midday: Tesla, Robinhood, Nvidia, Cognizant and more
Check out the companies making headlines in midday trading: Bank stocks — Major banks came under pressure during Monday’s session amid rising concerns about a potential slowdown in the U.S. economy. JPMorgan Chase and Goldman Sachs fell roughly 4%. Citigroup slid more than 4%, and Wells Fargo dropped 5%. Bank of America shed more than 2%, and Morgan Stanley declined more than 5%. Robinhood — Shares of the financial services platform plunged more than 14% on the heels of Finra saying on Friday that it has ordered Robinhood to pay $3.75 million in restitution to customers. The self-regulatory organization also fined Robinhood Financial and Robinhood Securities $26 million, alleging a failure to “establish and implement reasonable anti-money laundering programs,” among other issues. Crypto-related names — Bitcoin slid 3% in midday trading as investors fled speculative corners of the market. Stocks tied to cryptocurrencies also fell, with crypto exchange Coinbase losing 10% and bitcoin proxy Strategy shedding 13%. Redfin — The real estate company soared about 70% after it announced that Rocket Companies will acquire the company in an all-stock deal valued at $1.75 billion . The deal is expected to close in the second or third quarter of 2025. Shares of Rocket Companies moved almost 15% lower following the announcement. Nvidia — Shares of the chipmaker dropped 4%, extending the megacap stock’s recent rout. After shares plunged more than 9% last week, Nvidia is down more than 20% in 2025. Chip plays — The VanEck Semiconductor ETF (SMH) slid more than 4% as investors sold out of last year’s high-flying chip names. Broadcom and ASML lost about 6%. Taiwan Semiconductor Manufacturing tumbled more than 3%. Tesla — Elon Musk’s electric vehicle company saw shares dropping 10% to below $240 apiece, giving up its postelection gain. The EV maker has slid for seven straight weeks after Musk joined the Trump administration, its longest losing streak in its 15 years as a public company. The stock closed at $251.44 on Nov. 5, Election Day. Novo Nordisk — Shares slipped more than 8% after trial results for the Danish pharmaceutical company’s weight loss drug CagriSema showed the treatment resulted in a smaller impact for patients compared to previous tests. Palantir Technologies — The stock pulled back 7%, extending its underperformance in recent weeks. Over the past month, shares have fallen more than 32%. Cracker Barrel — Shares of the restaurant brand popped 6% after Truist Securities upgraded the company to buy. The firm said the restaurant chain’s recent results have led to increased confidence in Cracker Barrel’s turnaround efforts that do not appear reflected in its valuation. Oracle — Shares of cloud computing company fell more than 4% as trades linked to artificial intelligence came under pressure Monday. Oracle, which is set to report earnings after the closing bell, has now seen its stock fall more than 10% this year. Cognizant Technology — The IT stock gained more than 4% after The Wall Street Journal, citing people familiar with the matter, reported that activist investor Mantle Ridge has built a stake of more than $1 billion in the company and thinks its shares are undervalued. — CNBC’s Alex Harring, Brian Evans, Jesse Pound, Yun Li, Pia Singh, Michelle Fox and Darla Mercado contributed reporting. Correction: An earlier version misstated the amount of restitution Robinhood Financial was ordered to pay to customers. The firm was ordered to pay $3.75 million to customers, and Finra fined Robinhood Financial and Robinhood Securities $26 million for alleged violations.
