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Stocks on the Move Today

The snapback in markets yesterday will position the 3x Bear Semiconductor (SOXS) and UltraPro QQQ 3x (TQQQ) on the most actively traded stocks today. The battle between the bull and bear will depend on continued strength from AMD (AMD), Apple (AAPL), and Nvidia (NVDA).

In a filing, hedge fund giant Bridgewater Associates increased its position in Nvidia by an astonishing 458% at the end of last year. In addition, it added 500,000 shares of Alphabet, Meta Platforms (META), and Apple. Its Microsoft (MSFT) position did not change. This revelation would potentially push NVDA stock up again today.

Sectors on Decline

Amid the volatility, underperformance in shares of Tesla (TSLA) will continue. Selling pressure is gaining momentum as speculators avoid their bets on the struggling electric vehicle market. Tesla’s rival, Rivian (RIVN) is in a holding pattern. Shorts hold a 15.22% but are unable to send RIVN stock below $15.00.

In the energy sector, falling oil futures are hurting energy stocks. As WTI crude prices settle in the $76.50 range, firms like Antero Resources (AR), Devon Energy (DVN), and EQT Corp. will have trouble breaking out of their downtrend.

EQT posted revenue of $2.04 billion, down by 41.4% Y/Y. Despite quarterly production of 564 Bcfe at the high-end of guidance, its increased operational efficiency should lead to better results in the quarter ahead.

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