Why these 10 stocks are trending on Wednesday

In this article, we’ll take a look at some of the notable stocks trending today. You can skip our detailed analysis of these stocks and go read Why these 5 stocks are trending Wednesday.

Markets were relatively calm on Wednesday with the Dow Jones down 0.4%, the S&P 500 down 0.34% and the NASDAQ up 0.1%. Some of the stocks in the spotlight include HSBC Holdings plc (NYSE: HSBC), Southwest Gas Holdings, Inc. (NYSE: SWX), Facebook, Inc. (NASDAQ: FB), Amazon.com, Inc. (NASDAQ: AMZN) , General Motors Company (NYSE: GM), Tesla, Inc. (NASDAQ: TSLA) and Marvell Technology, Inc. (NASDAQ: MRVL).

Below, we mention why these stocks are evolving today. We also discussed the activity of hedge funds for each security.

Why do we care about hedge fund activity? Insider Monkey’s research has identified in advance a select group of hedge funds that have outperformed S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021, the selections of actions in our monthly newsletter returned 186.1%, compared to 100.1% for ESPION. Our stock picks outperformed the market by 86 percentage points (see details here). This is why we believe that hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can sign up for our free newsletter on our homepage to get our stories delivered to your inbox.

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10. Facebook, Inc. (NASDAQ: FB) is in the spotlight after CEO Mark Zuckerberg responded to accusations by whistleblower Frances Haugen that Zuckerberg had no responsibility and that Facebook should declare “moral bankruptcy.” Zuckerberg said Facebook, Inc. (NASDAQ: FB) cares “deeply about issues such as safety, well-being and mental health.” Eagle Capital Management held more than 7.4 million shares of Facebok at the end of June.

9. Amazon.com, Inc. (NASDAQ: AMZN) is in the spotlight after the hack of its streaming service, Twitch. The hack would include Twitch’s source code and the data would indicate that Amazon Game Studio plans to challenge Steam with an online computer games store. Amazon.com, Inc. (NASDAQ: AMZN) bought Twitch in 2014. Amazon.com, Inc. (NASDAQ: AMZN) was the most widely held smart silver stock at the end of the second quarter in our database. data.

8. General Motors Company (NYSE: GM) is a trend after the company announced plans to double annual sales to around $ 280 billion by the end of the decade. General Motors Company (NYSE: GM) is also aiming for higher margins by then. Of the approximately 873 elite funds in our database, 86 were General Motors Company (NYSE: GM) long positions at the end of the second quarter.

7. Tesla, Inc. (NASDAQ: TSLA) is in the spotlight after Business Insider announced that Tesla may move its headquarters to Austin, Texas, from Palo Alto, California. Shares of Tesla, Inc. (NASDAQ: TSLA) are up 7.2% year-to-date. Billionaire Elon Musk owns substantial shares in Tesla, Inc. (NASDAQ: TSLA).

6. Marvell Technology, Inc. (NASDAQ: MRVL) jumped more than 7.5% considering its investor day. According to Marvell Technology, Inc. (NASDAQ: MRVL), the company has a long-term sales growth target of 15-20% compared to 10-15% previously. The company also aims to return more than 50% of free cash flow to shareholders. 51 elite funds in our database were long Marvell Technology, Inc. (NASDAQ: MRVL) at the end of the second quarter.

Like Facebook, Inc. (NASDAQ: FB), Amazon.com, Inc. (NASDAQ: AMZN), General Motors Company (NYSE: GM), Tesla, Inc. (NASDAQ: TSLA) and Marvell Technology, Inc. (NASDAQ: MRVL), HSBC Holdings plc (NYSE: HSBC) and Southwest Gas Holdings, Inc. (NYSE: SWX) are trending.

Click to continue reading and see why these 5 stocks are trending Wednesday.

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Disclosure: none. Why these 10 stocks are trending on Wednesday was originally published on Insider Monkey.

About Mary Moser

Mary Moser

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