Tech stocks lagged Friday. Major companies in the tech sector like Microsoft, Facebook, Apple and NVIDIA traded in the red on Friday. Tech stock Netflix was actually in the green and traded upwards of about one percent. Apple was down by less than half a percent. Facebook was down by less than half a percent. Microsoft shares traded down about 0.17 percent. Zoom however traded in the green and has been up by fifteen percent for the week. NVIDIA reported earnings on Wednesday. The chipmaker beat expected EPS with 14.19 percent. They beat revenue estimates by 6.86 percent. The company reported their revenue at 473. billon dollars compared to the expected amount of 4.42 billion dollars in revenue.
NIO had another exciting week. For the week the company is up by over twenty percent. Other companies in the electric vehicle space have also experienced great growth this week. Xpeng is up over thirty seven percent for the week. Workhorse shares are up by thirty percent for the week. Blink charging has soared this week with their shares up by over one hundred and thirty percent.
As the day has continued, the Dow Jones has dropped around 155 points for the financial update on stocks. Other major indexes are slightly down. Earlier in the week on Monday, the S&P 500 stated it will be adding Tesla to its index. The company will be added on December 21. Tesla will become the largest company to join the index in a very long time. It will be the ninth biggest company in the entire index based off of market cap. Its current market cap is estimated around 420 billion dollars. With Tesla joining the S&P 500, some companies may have to be removed from the index.
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