Breaking News | Meme Stocks Cool Down, GME Falls 25%, AMC Drops 20%; NIO Falls Over 7%, FFIE Bucks Trend with 70% Increase
M+ Global Updates 15/05/2024 22:11

As of the time of writing, all three major indices are collectively up, with the Dow Jones Industrial Average $Dow Jones Industrial Average DJI$ rising by 0.40%, the S&P 500 $S&P 500 index SPX$ increasing by 0.52%, and the Nasdaq Composite Index $NASDAQ IXIC$ going up by 0.50%.

Most popular tech stocks saw varied movements, with AMD $Advanced Micro Devices, Inc. AMD$ rising by nearly 2%, Nvidia $NVIDIA Corporation NVDA$ increasing by over 1%, and Tesla and Amazon dropping by nearly 2%.

In the Chinese concept stock space, there were mixed movements, with NIO $NIO NIO$ experiencing a drop of over 7%, while TSMC and Alibaba rose by around 1%.

Stocks associated with the WallStreetBets (WSB) concept showed a decrease in momentum, with GameStop $GameStop Corp. Class A GME$ dropping by over 29% and AMC Entertainment $AMC Entertainment Holdings, Inc. Class A AMC$ falling by nearly 20%.

NIO saw a decline of over 7%, with its new model, the NIO L60, making its debut at a starting price of 219,900 yuan, which is 30,000 yuan cheaper than the Model Y.

Faraday Future Intelligent Electric Inc. $FARADAY FUTURE INTELLIGENT ELEC INC FFIE$ continued its surge, rising by over 70%. Jia Yueting responded to the stock price surge by stating it can help Chinese car companies and supply chains swiftly enter the US market.


The content is provided as general information only and should not be taken as investment advice. All the contents shall not be taken as a recommendation to buy or sell any security or financial instruments. Any action you take resulting from information, analysis, or commentary on this article is your responsibility. Please consult your investment advisor before making any investments.

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