Stocks

Today’s stocks to watch: Coinbase and Super Micro Computer 

December 17, 2024

Key Points To Watch Out For:

  • Coinbase and other cryptocurrency-related stocks rise along with bitcoin
  • SoftBank to invest $100 billion in U.S., sending its share price soaring
  • Alibaba and Super Micro shares post sizable losses

Coinbase (COIN): Shares Linked to Bitcoin’s Rise

Shares of Coinbase (COIN), Marathon Digital Holdings (MARA), and MicroStrategy (MSTR) rose in premarket trading, reflecting the upward trajectory of Bitcoin prices, which have surpassed $107,000. This increase is attributed to optimism surrounding the president-elect’s proposed agenda.

SoftBank Group: Announcement of a $1 Billion Investment in the U.S

The Japanese conglomerate’s shares climbed 4.4% in Tokyo after CEO Masayoshi Son and Donald Trump announced plans to invest at least $100 billion in U.S. projects over the next four years.

Super Micro Computer (SMCI): Downtrend After Nasdaq-100 Delisting

Shares of Super Micro Computer, a leading provider of artificial intelligence servers, continued their downward trend. Following confirmation of its removal from the Nasdaq-100 index, the stock dropped 2% in early trading, extending Monday’s 8% decline.

Amentum (AMTM): Rebounding on Quarterly Earnings

Amentum shares gained in premarket trading after the engineering and advanced technology company reported a return to profitability in its most recent quarterly report.

Alibaba (BABA): Losses on Sale of Department Store Chain

Chinese technology giant Alibaba revealed it anticipates a loss exceeding $1 billion from the sale of its Intime department store chain. The announcement led to a 1% drop in Alibaba shares in Hong Kong trading.

PG&E (PCG): Record Funding to Upgrade Electric Grid

The Biden administration announced a record $15 billion loan to support PG&E’s efforts to modernize the electric grid and reduce emissions.

Carlsberg (CARL.A): European Takeover Approved

Danish brewer Carlsberg (CARL.A) received approval from European authorities for its $4.2 billion acquisition of Britvic. Despite the approval, Carlsberg shares fell by 1% in European trading, while Britvic shares saw a modest rise.

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