Written by Dreamer
On May 24, 2024, the U.S. stock market closed with gains in major indices.
- S&P 500: Closed at 5,304.72, up 36.88 points or 0.70%.
- Dow 30: Closed at 39,069.59, up 4.33 points or 0.01%.
- Nasdaq: Closed at 16,920.80, up 184.76 points or 1.10%.
- Russell 2000: Closed at 2,069.67, up 21.26 points or 1.04%.
The U.S. stock market ended on a positive note with the Nasdaq and Russell 2000 posting notable gains, signaling strong performance particularly in the tech sectors. The Nasdaq reached a new record close, extending its winning streak to five weeks. Despite minimal movements in the Dow, overall market sentiment was optimistic, buoyed by economic signals and anticipation of upcoming corporate earnings. This demonstrates the market’s resilience and investor confidence in the current economic landscape.
Contents:
- Stock Performance Overview
- Market Cap Category Distribution
- Sector-Wise
- Top 10 Traded Miscellaneous Stocks
- Top 10 Traded Technology Stocks
- Top 10 Traded Industrials Stocks
Insights:
Stock Performance Overview:
Stock performance overview is as below:
- Gainers: 4,409 stocks experienced an increase in their stock prices.
- Losers: 2,269 stocks saw a decrease in their stock prices.
- Unchanged: 443 stocks remained unchanged in their stock prices.
This suggests a predominantly positive day in the market, with a significant number of stocks advancing compared to those declining.
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 underscores a predominant presence of smaller companies within the market, highlighting the diversity and range of business scales within the economic landscape.
Sector-Wise:
Summary of the average trading volume per sector is as below:
- Miscellaneous: Leads with the highest trading volume.
- Technology: These sectors show substantial trading activity, closely following Miscellaneous.
- Industrials: 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: RUN has substantial volumes but significantly less than BURU.
- Bottom of the List: SLDP 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 Technology Stocks:
- Leader: *CRKN stands out with the highest trading volume in the sector.
- Following Closely: ASTI follows with a strong trading volume but still less than CRKN.
- Bottom of the List: PLTR has the lowest trading volume among the stocks.
Crown ElectroKinetics Corp. (CRKN) specializes in smart glass technology, known for its DynamicTint™ system that transforms glass from clear to dark swiftly. Developed from technology originated at Hewlett-Packard, it is used in buildings, vehicles, and homes. The company, established in 2015 in Corvallis, Oregon, focuses on energy efficiency and partners with major manufacturers to produce and distribute its products. CRKN also explores innovations in fiber optics for 5G infrastructure.
Top 10 Traded Industrials Stocks:
- Leader: *GWAV dominates with the highest trading volume in the sector.
- Following Closely: HLTH shows strong trading volumes, but less than GWAV.
- Bottom of the List: CSX 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.
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