Trump Media stock is facing a significant decline.
On Monday afternoon, the Nasdaq experienced a rise of 1.5%, gaining 277 points, following President Joe Biden’s decision to 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.
The crypto-based betting platform Polymarket has positioned Harris as the Democratic nominee for president, while PredictIt from New Zealand forecasts her as the likely 47th president of the United States.
Nvidia shares rose by 4% after a report from Reuters stated that the company is working on a version of its new Blackwell AI chips aimed at the Chinese market. The chipmaker is set to collaborate with local partner Inspur to launch the chip, referred to as the “B20,” which is expected to start shipping by the second quarter of 2025. Nvidia has not commented on this report.
Tesla’s stock surged nearly 5% just a day before its earnings report, where Elon Musk is anticipated to provide updates on the company’s postponed robotaxi launch. Musk stated on X that Tesla plans to have functional humanoid robots in limited production for internal use next year and aims for broader production by 2026.
CrowdStrike, still reeling from a significant tech outage last Friday, reported slow progress in recovery but indicated that many of the impacted 8.5 million Windows devices are operational again. Despite this, CrowdStrike’s stock fell over 13%, trading around $263 in the afternoon.
Verizon’s stock dropped almost 6% after the company reported its quarterly results, which fell short of expectations. The telecommunications provider noted that customers are keeping their old phones longer, affecting upgrade rates linked to promotional plans for new mobile lines. Verizon’s second-quarter revenue was $32.8 billion, slightly below analyst estimates of $33.06 billion, while its earnings per share were $1.15, matching expectations.