Oil and Memory Stock Moves; FuelCell Slumps
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- ExxonMobil (XOM) and Chevron (CVX) are moving on the latest news out of Iran and the NATO summit. Oil jumped after President Trump said the tentative ceasefire with Iran is over, raising the prospect of a fresh round of conflict in one of the world’s most important energy-producing regions.
- Memory stocks including Micron (MU) and Sandisk (SNDK) are moving off Nvidia's slide. Nvidia's stock is the cheapest it's been since before the AI boom, after losing roughly $1 trillion in market value in less than two months. The chipmaker's stock has tumbled 16% since hitting an all-time high on May 14, as investors favor competing semiconductor manufacturers, particularly those in the memory market.
- FuelCell Energy (FCEL) is slumping after it priced its upsized underwritten public offering of 10.7 million shares of its common stock at a public offering price of $21.00 per share.
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