GameStop (GME) led the list, and was down 4.2%, while another Reddit favorite AMC Entertainment (AMC) slipped 8.4%. The movie theater chain's Chairman and CEO Adam Aron unloaded 312,500 more shares in the company for $7.2 million and has vowed to sell no more shares, according to media reports. Aron has so far sold over $40 million in shares since November.
Tesla (TSLA) lost 5.8% after CEO Elon Musk tweeted that his company is still "working through a lot of challenges" with the Indian government to launch its electric cars in the country. The US electric car maker has been requesting the government to cut import taxes on EVs.
Taiwan Semiconductor Manufacturing climbed 6.5% even as technology stocks are falling. The semiconductor company posted Q4 net income of 32.05 New Taiwan dollars ($1.15) per American depositary share, up from NT$27.53 per ADS a year earlier, beating the Capital IQ consensus of a $1.12 per share profit. Net revenue jumped 21.1% over year-ago levels to NT$438.19 billion, also exceeding the NT$436.1 billion Street view. In addition, Atlantic Equities lifted Taiwan Semiconductor Manufacturing to overweight from neutral and upgraded its price target to $170 From $125.
Digital World Acquisition (DWAC), which is expected to take Trump Media & Technology Group public via a reverse merger, sank 5.1%.
Virgin Galactic (SPCE) shares plunged 17.9% after the company said it is planning a $425 million private offering of senior convertible notes due 2027.
Graphic cards company Nvidia (NVDA) fell 4.7%, Lucid (LCID) was off 7% and Alcoa (AA) declined 1.2%. Alcoa has been receiving price target upgrades from various investment firms since last week. Yesterday, Jefferies & Co lifted its price target on the industrial company to $75 From $65.
Tilray (TLRY) was trading 3.2% lower. Earlier this week, the Canadian pharmaceutical and cannabis company saw revisions to its price target, with an upgrade from Alliance Global, but downgrades from Stifel Nicolaus and Canaccord.
Price: 122.38, Change: -5.68, Percent Change: -4.44
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