The major U.S. indices ended lower on Tuesday, as early optimism over President Donald Trump‘s signing of the coronavirus relief package wilted when Senate Majority Leader Mitch McConnell (R-Ken.) thwarted efforts to increase direct payments to hurting Americans.
Here are the best stocks in the Nasdaq on Wednesday by their performance in percentage change at the close of trading on Dec. 29.
1. Pinduoduo | Increased +15.57%
Shares of Pinduoduo (PDD) – Get Report, a Chinese e-commerce holding company, surged Tuesday, adding almost 16% to close at $166.19. China stocks as a group rose sharply as Alibaba Group ((BA)(BA)) – Get Report said progress is being made on changing the operations of Ant Group after China’s central bank over the weekend demanded a management shakeup.
2. Intel Corp | Increased +4.93%
Intel (INTC) – Get Report shares outperformed the broader market, adding $2.32 to close at $49.39. Shares of Intel are down more than 17% so far this year. The stock rose after activist hedge fund investor Third Point urged the chipmaker to assess strategic alternatives, including possibly separating its design and manufacturing arms, media reports suggested.
3. Moderna Inc | Increased +2.68%
Moderna (MRNA) – Get Report on Tuesday confirmed that it’s in talks with the government of South Korea to potentially provide 40 million or more doses. Under the terms of the proposed agreement, distribution would begin in the second quarter of 2021. Moderna said. Shares closed at $114.39.
4. Netflix Inc | Increased +2.26%
Netflix (NFLX) – Get Report shares rose $11.75 to close at $539.87. TheStreet’s Eric Jhonsa writes Tuesday that while the Nasdaq has moved less than 0.5% so far this week, many well-known tech names have seen far bigger price swings. The FAANG stocks — Facebook (FB) – Get Report, Amazon (AMZN) – Get Report, Apple (AAPL) – Get Report, Netflix, and Alphabet (GOOGL) – Get Report — have been rising this week, as year-end trades made for tax and portfolio rebalancing reasons could be helping a tech rotation.
5. Expedia Group Inc | Increased +2.19%
Shares of Expedia (EXPE) – Get Report rose 2.19% to 131.30. Despite a tough year for travel-related stocks, Expedia shares are up more than 21% in 2020. Optimism that economies will reopen safely and people will be able to travel more widely in 2021 is fueling gains for travel companies.
6. Booking Holdings Inc | Increased +2.22%
Booking Holdings (BKNG) – Get Report shares gained on the same outlook that helped Expedia. The stock is up a little more than 6% so far this year.
7. Charter Communications | Increased +3.27%
Charter Communications (CHTR) – Get Report shares added $13.08 to end Tuesday at $664.98. The stock is up more than 37% so far this year.
All stock prices and activity referenced are pulled from Barchart.com.