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Wall Street’s major indexes fell more than 1% on Monday after stronger-than-expected November ISM services data led to speculation that Federal Reserve will continue on its rate hike path, increasing the chances of a recession. According to ISM, its non-manufacturing purchasing managers’ index rose to 56.5 last month from 54.4 in October. Meanwhile, here are five stocks that are getting the attention of retail investors:
1. Tesla Inc TSLA: Shares of the EV maker closed 6.37% lower on Monday. Tesla is planning to cut production at its Shanghai factory, Bloomberg reported, citing people familiar with the matter. It will take effect as soon as this week, with Tesla potentially cutting production by nearly 20% from full capacity, the report said.
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2. Apple Inc AAPL: Apple shares closed 0.8% lower on Monday. The company is said to have held talks with Indian officials as the country considers options to bring some of the iPad production in the country from China, CNBC reported.
3. Ford Motor Company F: Shares of the automaker closed Monday’s session 3.5% lower. Ford and SK is on there is cracked ground in BlueOval SK Battery Parkwhere their joint venture has invested $5.8 billion to produce advanced batteries for future Ford and Lincoln electric vehicles, which are scheduled to begin production in 2025.
4. Gitlab Inc GTLB: Gitlab shares closed 7.12% lower on Monday but gained 19.36% in extended trade. The company’s third-quarter revenue rose 69% year-over-year to $112.98 million, beating the average analyst estimate of $106.5 million,
5. EHang Holdings Ltd EH: Shares of EHang Holdings closed 34.27% higher on Monday. The company has announced that Nick Ning Yang has been appointed as a new director on its board, effective Monday.
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