Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
In today’s volatile market, three stocks are capturing investor attention for vastly different reasons. CrowdStrike Holdings Inc. (NASDAQ: CRWD) grapples with the fallout from a major software glitch, Tesla Inc. (NASDAQ: TSLA) faces disappointing sales figures in a key market, and Serve Robotics Inc. (NASDAQ: SERV) experiences a dramatic surge following a high-profile investment disclosure.
CrowdStrike Stock Dips as Cybersecurity Firm Finds Itself in the Middle of a Global IT Outage
CrowdStrike Holdings Inc. (CRWD) shares plummeted 8.50% to $313.89 by 11:00 AM EDT following a global IT outage caused by a faulty software update to its Falcon product. The incident, which began around 19:00 UTC on July 18, affected Windows machines across various industries, including banking, airlines, and healthcare. While CEO George Kurtz confirmed it was not a security breach, the company faces potential reputational damage and scrutiny of its update processes. Despite this setback, CRWD maintains a strong year-to-date return of 22.98% and a one-year return of 105.30%, outperforming the S&P 500.
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Tesla Shares Dip After Disappointing California Sales Data
Tesla Inc. (TSLA) shares dipped 2.23% to $243.68 amid concerns over its performance in the crucial California market. The electric vehicle maker reported a 24% decline in Q2 2024 California registrations, marking the third consecutive quarter of sales drops in the state. With California accounting for 10% of Tesla’s global deliveries, this trend suggests softening demand and increased competition. The Model Y, while still the best-selling model in California, saw its market share fall from 64.6% to 53.4%. TSLA stock currently underperforms the S&P 500 with a year-to-date return of -2.09% and a one-year return of -17.06%.
Serve Robotics Surges 100%+ After Nvidia Discloses Larger Stake
Serve Robotics Inc. (SERV) experienced a dramatic 115.61% surge to $5.67 following Nvidia’s disclosure of significant investments in the company. Nvidia initially purchased 62,500 shares at $4 each in July 2023 and later converted a promissory note into over 1 million shares at $2.42 each in April 2024. This vote of confidence from the tech giant signals strong interest in Serve Robotics’ autonomous sidewalk delivery technology. Despite today’s gains, SERV stock still shows a year-to-date return of -77.46%, reflecting its recent public debut in March 2024 and the volatility often associated with newly listed companies in emerging tech sectors.
Disclaimer: The author does not hold or have a position in any securities discussed in the article.
The post Stocks to Watch Today: CrowdStrike, Tesla, and Serve Robotics appeared first on Tokenist.
