Major Wall Street indices had closed in the red on Friday in the wake of a continued sell-off following the hawkish stance asserted by the Federal Reserve. Friday witnessed volatile trading as a large number of options expired on the day, according to a CNBC report. There was $2.6 trillion worth of index options expiring on the day, marking the highest amount “relative to the size of the equity market in nearly two years,” the report said, citing Goldman Sachs. Meanwhile, here are the five stocks that are drawing investors’ attention:
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1. Tesla Inc TSLA: The EV-maker is finalizing plans to build an electric vehicle assembly plant in an industrial area of northeastern Mexico and is likely to announce the factory as soon as next week, reported Bloomberg, citing sources. The plant is to be located in Santa Catarina in Monterrey city, the capital of Nuevo Leon state, the report said. Tesla shares had closed 4.72% lower on Friday.
2. Amazon.com, Inc. AMZN: Amazon shares closed 0.67% lower on Friday. German union Verdi on Sunday has called on workers at Amazon warehouses across the nation to back rolling strikes in coming days, reported Reuters. The strike would be in protest over pay, targeted at maximizing disruption to Amazon’s pre-Christmas business, the report said.
3. Madrigal Pharmaceuticals Inc MDGL: Madrigal Pharmaceuticals is planning to announce topline results from the Phase 3 MAESTRO-NASH study of resmetirom on Monday. Shares of the company closed 1.43% higher on Friday while gaining 4.23% in extended trading.
4. Pfizer Inc PFE: Shares of Pfizer closed 4.14% lower on Friday. The company finalized a deal to sell its antiviral medication Paxlovid in China via a state-owned company, adding to the supply of COVID-19 treatments in the nation which is now facing a massive rise in infections, reported Bloomberg.
5. Synaptogenix Inc SNPX: Shares of Synaptogenix closed 74.63% lower on Friday. The CEO expressed disappointment with the topline results from the Phase 2 trial of Bryostatin-1 for advanced Alzheimer’s disease.
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