Why Alibaba Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

Author: Avi Kapoor | May 14, 2024 01:30pm

Shares of Alibaba Group Holding Limited (NYSE:BABA) fell sharply during Tuesday's session following mixed first-quarter financial results.

The e-commerce giant reported fiscal fourth-quarter 2023 revenue growth of 7% year-on-year to $30.73 billion, beating the analyst consensus estimate of $30.40 billion. Adjusted earnings per ADS of $1.40 missed the analyst consensus estimate of $1.41, according to data from Benzinga Pro.

Alibaba Group shares tumbled 6.8% to $78.86 on Tuesday.

Here are some other stocks moving in today’s mid-day session.

Gainers

• Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) shares jumped 352.4% to $5.34 as the company reported pricing of $8.19 million follow-on public offering.
• Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) jumped 136% to $0.1434 after jumping over 32% on Monday.
• MicroCloud Hologram Inc. (NASDAQ:HOLO) shares gained 73% to $3.4499 after gaining around 18% on Monday.
• AMC Entertainment Holdings, Inc. (NYSE:AMC) shares gained 72.1% to $8.93 after surging 78% on Monday.
• GameStop Corp. (NYSE:GME) gained 61.7% to $49.24 after jumping over 74% on Monday.
• SunPower Corporation (NASDAQ:SPWR) rose 62% to $4.4590 as high short-interest stocks gain amid the return of trader "Roaring Kitty" to social media. Additionally, the Biden administration raised tariffs on Chinese solar panels.
• Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) gained 52.5% to $3.7693.
• Big Lots, Inc. (NYSE:BIG) gained 39.7% to $5.18.
• Plug Power Inc. (NASDAQ:PLUG) jumped 35% to $3.9165 after the company received a conditional commitment for an up to $1.66 billion loan guarantee from the Department of Energy.
• Virgin Galactic Holdings, Inc. (NASDAQ:SPCE) gained 31.5% to $1.3701 as high-short interest stocks gain amid the return of trader ‘Roaring Kitty’ to social media.
• Vuzix Corporation (NASDAQ:VUZI) jumped 29.7% to $1.74.
• Harrow, Inc. (NASDAQ:HROW) jumped 29.3% to $15.61 after the company reported first quarter financial results.
• Syra Health Corp. (NASDAQ:SYRA) rose 27.6% to $1.6950 after the company that it is a subcontracts for LUKE on a 10-year $43 billion Defense Health Agency contract.
• Beyond Meat, Inc. (NASDAQ:BYND) rose 27% to $10.14 after retail investor Roaring Kitty made a return to social media on Monday via a post on X.
• Delcath Systems, Inc. (NASDAQ:DCTH) gained 25.5% to $6.80 following upbeat quarterly results.
• Tupperware Brands Corporation (NYSE:TUP) jumped 25% to $2.20 after retail investor Roaring Kitty made a return to social media on Monday via a post on X.
• Sunnova Energy International Inc. (NYSE:NOVA) gained 23.8% to $5.14 after the Biden administration raised tariffs on Chinese solar panels.
• Paysafe Ltd (NYSE:PSFE) gained 23.6% to $19.37 as the company posted better-than-expected results for its first quarter.
• AMTD Digital Inc. (NYSE:HKD) gained 24.4% to $4.5191.
• Hertz Global Holdings, Inc. (NYSE:HTZ) rose 19.7% to $6.55.
• BlackBerry Limited (NYSE:BB) gained 18.4% to $3.67 after adding around 7% on Monday.
• SmartRent, Inc. (NYSE:SMRT) rose 17.5% to $2.82 after Land & Buildings sent a letter to the Board urging the exploration of strategic alternatives.
• Fossil Group, Inc. (NASDAQ:FOSL) rose 17.4% to $1.2101.
• BlackBerry Limited (NYSE:BB) gained 16.7% to $3.61 after retail investor Roaring Kitty made a return to social media on Monday via a post on X.
• Uxin Limited (NASDAQ:UXIN) rose 16.6% to $3.78.
• Dawson Geophysical Company (NASDAQ:DWSN) jumped 15.8% to $1.68 following first-quarter results.
• PureCycle Technologies, Inc. (NASDAQ:PCT) rose 15.4% to $6.08.
• Clover Health Investments, Corp. (NASDAQ:CLOV) gained 15% to $1.04.
• On Holding AG (NYSE:ONON) gained 14.7% to $35.21 after the company reported better-than-expected first-quarter financial results.
• Agilysys, Inc. (NASDAQ:AGYS) gained 14.5% to $91.89 after the company reported better-than-expected quarterly financial results.
• Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) gained 11.6% to $1.9983.
• Alcon Inc. (NYSE:ALC) gained 9.6% to $88.47 following better-than-expected first-quarter earnings.
• Tilray Brands, Inc. (NASDAQ:TLRY) shares rose 9.6% to $2.18.
• Bloom Energy Corporation (NYSE:BE) gained 9.5% to $12.65.
• Rent the Runway, Inc. (NASDAQ:RENT) shares rose 7.4% to $21.45 after gaining over 12% on Monday.
• Sony Group Corporation (NYSE:SONY) gained 6.3% to $80.95 after the company reported better-than-expected quarterly financial results

Losers

• Scorpius Holdings, Inc. (NASDAQ:SCPX) fell 54.8% to $0.0820 after the company reported pricing of public offering.
• Augmedix, Inc. (NASDAQ:AUGX) shares fell 50.7% to $1.1596 after the company reported first-quarter financial results.
• Inotiv, Inc. (NASDAQ:NOTV) fell 46.8% to $2.22 after Jefferies downgraded the stock from Buy to Hold and lowered its price target from $11.5 to $3.75.
• Akoya Biosciences, Inc. (NASDAQ:AKYA) fell 28.3% to $2.9550 after the company reported worse-than-expected first-quarter financial results and lowered its FY24 revenue forecast.
• Eastside Distilling, Inc. (NASDAQ:EAST) dipped 26% to $1.0950 following first-quarter earnings.
• JanOne Inc. (NASDAQ:JAN) fell 23.8% to $2.9443.
• Shimmick Corporation (NASDAQ:SHIM) declined 23.6% to $2.78 following weak quarterly earnings.
• Fennec Pharmaceuticals Inc. (NASDAQ:FENC) fell 23.2% to $7.70 following quarterly results.
• BIOLASE, Inc. (NASDAQ:BIOL) shares fell 15.3% to $0.1532 after the company reported mixed first-quarter financial results.
• IHS Holding Limited (NYSE:IHS) declined 15.2% to $3.2650 following first-quarter results.
• Jamf Holding Corp. (NASDAQ:JAMF) fell 12.1% to $17.95 after the company announced the pricing of a secondary offering by selling stockholders.
• Merchants Bancorp (NASDAQ:MBIN) declined 10.7% to $42.51 after the company priced a 2.4 million share offering at $43 per share.
• INVO Bioscience, Inc. (NASDAQ:INVO) shares fell 9.8% to $1.10 after jumping over 20% on Monday.
• StoneCo Ltd. (NASDAQ:STNE) shares declined 9.6% to $15.04 after the company reported first-quarter financial results.
• TeraWulf Inc. (NASDAQ:WULF) shares fell 9.4% to $2.03 after the company reported downbeat results for its first quarter on Monday.
• Better Home & Finance Holding Company (NASDAQ:BETR) declined 7.1% to $0.4135 following first-quarter results.
• VinFast Auto Ltd. (NASDAQ:VFS) fell 6% to $4.29.

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