Written by Dreamer
On May 17, 2024, the U.S. stock market experienced a relatively mixed day.
- S&P 500: Closed at 5,303.27, up by 6.17 points or 0.12%.
- Dow 30: Closed at 40,003.59, up by 134.21 points or 0.34%.
- Nasdaq: Closed at 16,685.97, down by 12.35 points or -0.07%.
- Russell 2000: Closed at 2,095.72, down by 0.53 points or or -0.03%.
The Dow Jones Industrial Average surged, topping the 40,000 mark, reflecting strong investor confidence and marking its longest winning streak since February. Meanwhile, the Nasdaq and Russell 2000 indices saw minor declines, indicating some hesitancy among traders in the tech and small-cap sectors. Overall, the day concluded with broad but slight gains in the market amidst varied performances across different sectors.
Contents:
- Stock Performance Overview
- Market Cap Category Distribution
- Sector-Wise
- Top 10 Traded Miscellaneous Stocks
- Top 10 Traded Basic Materials Stocks
- Top 10 Traded Industrials Stocks
Insights:
Stock Performance Overview:
Stock performance overview is as below:
- Gainers: 3,375 stocks experienced an increase in their stock prices.
- Losers: 3,332 stocks saw a decrease in their stock prices.
- Unchanged: 442 stocks remained unchanged in their stock prices.
This indicates a relatively balanced market day with a slight edge towards gainers, suggesting modest investor optimism.
Market Cap Category Distribution:
The market cap breakdown of companies is as below:
- Micro Cap: These smallest companies form nearly half the market, representing 49%.
- Small Cap: Almost a quarter of the companies are small caps, accounting for 23%.
- Mid Cap: Medium-sized companies make up a significant portion, with 16%.
- Large Cap: Larger companies constitute just over a tenth of the market, at 11%.
- Mega Cap: The largest companies, or Mega Caps, are rare, making up only 1%.
This distribution highlights the diversity and range of business sizes within the market, showcasing that smaller companies dominate in number, providing a broad spectrum of opportunities and risks for investors
Sector-Wise:
Summary of the average trading volume per sector is as below:
- Miscellaneous: Leads with the highest trading volume.
- Basic Materials and Industrials: These sectors show substantial trading activity, closely following Miscellaneous.
- Finance: Registers the lowest trading volume, indicating minimal trading activity.
Top 10 Traded Miscellaneous Stocks:
- Leader: *BURU leads with the highest trade volume, significantly higher than the rest.
- Following Closely: EOSE has substantial volumes but significantly less than BURU.
- Bottom of the List: AMPX has the lowest trading volume among the top 10.
Nuburu, Inc. (BURU) specializes in high-power and high-brightness industrial blue laser technology. This innovative company is known for its contributions to the industrial sector, particularly in applications requiring precise, high-energy laser systems. Nuburu’s technology has earned it various contracts and collaborations, including notable engagements with NASA and the U.S. Air Force, highlighting its role in advancing industrial applications with its specialized laser solutions.
Top 10 Traded Basic Materials Stocks:
- Leader: *VALE stands out with the highest trading volume in the sector.
- Following Closely: NGD and GOLD follow with a strong trading volume but still less than VALE.
- Bottom of the List: UEC has the lowest trading volume among the stocks.
Vale S.A. (VALE) is a global leader in iron ore production and one of the biggest nickel producers. Beyond these core segments, Vale also operates with a substantial presence in logistics, copper, and fertilizer production. The company’s operations are expansive, with activities and projects across multiple continents including South America, Africa, and Asia, reflecting its significant role in the global mining and metals market.
Top 10 Traded Industrials Stocks:
- Leader: *GWAV dominates with the highest trading volume in the sector.
- Following Closely: PEGY shows strong trading volumes, but less than GWAV.
- Bottom of the List: PACB is at the lower end in terms of trading volume among the stocks.
Greenwave Technology Solutions, Inc. (GWAV) marks its presence in the industrials sector with a focus likely on manufacturing or production facilities that demand robust industrial solutions. While specific details about GWAV’s operations are not provided in the sources, companies in this sector typically engage in the production of goods used in construction and manufacturing, contributing significantly to industrial activities.
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