Trump Media stock is currently experiencing a significant decline. On Monday afternoon, the Nasdaq composite rose 1.5%, gaining 277 points, following President Joe Biden’s announcement that he would withdraw from the presidential race and endorse Vice President Kamala Harris. The Dow Jones Industrial Average and the S&P 500 also saw increases of 0.3% and 1.1%, respectively.
In the world of predictions, Polymarket has named Harris as the likely Democratic nominee for the presidency, while PredictIt from New Zealand is forecasting that she will become the 47th president of the United States.
Nvidia’s stock rose by 4% on reports from Reuters indicating that the company is creating a new version of its Blackwell AI chips for the Chinese market. Nvidia is said to be partnering with local distributor Inspur to rollout the new chip, referred to as the “B20,” expected to begin shipping in the second quarter of 2025. Nvidia has not commented on the matter.
Tesla’s stock gained almost 5% a day before its earnings report, where CEO Elon Musk is anticipated to discuss the awaited reveal of the company’s robotaxi service. Musk tweeted that Tesla plans to have operational humanoid robots for internal use next year and aims for broader production by 2026.
CrowdStrike, the cybersecurity firm involved in last week’s significant global tech outage, is gradually recovering from the incident. The company reported that many of the approximately 8.5 million Windows devices affected are now back online. However, CrowdStrike’s stock dropped over 13% in the afternoon, trading around $263.
Verizon’s stock fell nearly 6% after the telecommunications giant released its quarterly earnings report, which revealed it had missed revenue projections as customers delay upgrading their phones. Verizon’s second-quarter revenue amounted to $32.8 billion, slightly shy of analysts’ expectations of $33.06 billion, while earnings per share were reported at $1.15, meeting forecasts.