Bull&Bear | Reddit and Maxeon Lead Stock Surge Amid Mixed Market Performance
AInvestWed, Oct 30, 2024 ET
1min read
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In the realm of rising stocks, Reddit (RDDT) saw a significant increase of 41.97%, continuing its upward trend for two consecutive days, with a 45.65% gain over the last two days. This surge was driven by its third-quarter earnings surpassing expectations.

Maxeon Solar Technologies (MAXN) experienced a notable rise of 38.68%. The stock saw an upswing after a report suggested that China is set to address the issue of excess supply by limiting production in the sector.

Unisys (UIS) shares soared by 33.83%, fueled by the boost in revenue which was primarily driven by its AI solutions outperforming market predictions.

NerdWallet (NRDS) climbed by 33.04% after being rated as overweight by Keybanc. The investment bank also raised the target stock price from $18.00 to $20.00 per share.

Omnicell (OMCL) increased by 32.23%, following Craig-Hallum's decision to raise Omnicell’s price target from $45 to $64.

On the other hand, certain stocks faced significant downturns. HomeStreet (HMST) plummeted by 34.91%, continuing its decline for the second day and registering a 36.60% drop over two days. This was a result of the withdrawal of its acquisition application for FSUN, leading to a downgrade in its rating.

Super Micro Computer (SMCI) experienced a steep decline of 32.68%. The drop was attributed to issues surrounding corporate governance and questions about ethical integrity.

AnaptysBio (ANAB) fell by 27.99% after Eli Lilly terminated the study of its PD-1 agonist candidate, causing a substantial drop in AnaptysBio shares.

ATN International (ATNI) saw its stock drop by 27.51%, marking a consecutive two-day decline of 27.70%, with its third-quarter operating income reported at a loss of $38.4 million.

Qorvo (QRVO) also faced a downturn, decreasing by 27.31%. TD Securities reiterated its hold rating on Qorvo, while adjusting the target stock price downward to $85.

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