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Top trending stocks: MicroStrategy, UnitedHealth Group, SoundHound, Tesla

Dec 4, 2024
4 min read
Table of Contents
  • 1. UnitedHealth Group (UNH)
  • 2. MicroStrategy (MSTR) 
  • 3. SoundHound (SOUN)
  • 4. SentinelOne (S)
  • 5. Tesla (TSLA)

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Here’s a look at five popular stocks making waves today, ranging from innovative technologies to strong healthcare performance: MicroStrategy, UnitedHealth Group, SoundHound, SentinelOne, Tesla.
 


UnitedHealth Group (UNH)


UnitedHealth Group Inc. saw its stock prices rise on Wednesday, despite the tragic murder of Brian Thompson, the CEO of its subsidiary, UnitedHealthcare, the largest healthcare company in the nation.

The stock closed at $605.23 on Tuesday and opened at $613 on Wednesday morning, shortly after news of Thompson's assassination emerged around 9 a.m. ET.

The stock fell to its session low of $607.12 around 11 a.m. but began to rise steadily throughout the day, closing at $610.79.

Paulette Thompson, the late CEO's wife, informed NBC News that her husband had received threats prior to the targeted attack in New York City, which occurred ahead of an investor conference.

"There had been some threats," she said. "I don't know the details, but he mentioned that some individuals had been threatening him."

Authorities are still searching for the suspect, described as a light-skinned male, last seen wearing a light brown or cream-colored jacket, a black face mask, black and white sneakers, and a gray backpack.
 


MicroStrategy (MSTR) 


MicroStrategy stock continued their upward trend alongside Bitcoin, which traded above $98,000 on Friday morning. As the largest corporate holder of Bitcoin, MicroStrategy is viewed by many investors as a top stock choice linked to cryptocurrencies.

Earlier this week, the company revealed that it had acquired an additional 55,500 Bitcoin (BTC) for roughly $5.4 billion between November 18 and November 24, bringing its total holdings to 386,700 BTC.

On November 21, the stock reached an all-time high before reversing sharply to close down 16.2% on heavy volume the same day. This abrupt decline followed a post by Citron Research on X, where they announced they had shorted the stock to hedge against shares they already owned. Since then, the stock has been working to stabilize after the drop.

MicroStrategy currently boasts a top-tier 99 Relative Strength Rating. It gained 58% in November and has surged approximately 500% so far this year.
 


SoundHound (SOUN)


Shares of voice assistant technology company SoundHound AI (NASDAQ: SOUN) surged 85.1% in November, according to data from S&P Global Market Intelligence. Although the company released its financial results for the third quarter of 2024 during the month, this did not act as a catalyst for the stock's rise; in fact, the stock declined after the Q3 report.

In the third quarter, SoundHound's revenue climbed 89% year over year to a record $25 million. However, acquisitions impacted the company's profit margins, leading to a decrease in gross margin from 73% in the prior year to 49%. As a result, while revenue was soaring, gross profit increased by a more modest 26%, and the net loss actually widened.

Winning so many important customers shows that SoundHound is a leader in this space. And that's important considering the market is estimated to be worth $140 billion. By comparison, SoundHound only expects $150 million in revenue next year, positioning it for robust long-term growth.
 


SentinelOne (S)


SentinelOne's Singularity Platform is making significant strides in the competitive cybersecurity landscape, especially in the realm of AI-driven security solutions. The surge in new business growth highlights strong market validation for their autonomous security approach. The platform's expanding capabilities and emphasis on real-time protection are appealing to enterprise customers, as reflected in the increasing number of large accounts.

The company's focus on AI-powered innovations positions it favorably in the fast-evolving cybersecurity sector. Improved operating metrics indicate that their investments in technology are beginning to generate economies of scale, which are crucial for maintaining long-term competitiveness in the enterprise security market.
 


Tesla (TSLA)


Tesla (TSLA) shares rose 1.85% on Wednesday, overcoming a range of concerns and recovering more than the losses experienced on Tuesday. Surprisingly, even a negative report regarding fourth-quarter deliveries did not impact the stock’s performance.

Despite its notable strength, Tesla slipped 2.9% from its 52-week high of $361.93, achieved on Nov. 25. Over the past three months, TSLA stock gained 66.9%, outperforming the Consumer Discretionary Select Sector SPDR Fund’s (XLY) 21.4% gains during the same time frame.

Over the longer term, Tesla shares have increased by 41.4% year-to-date and 47.1% over the past 52 weeks, significantly outperforming the Consumer Discretionary Select Sector SPDR Fund (XLY), which has seen YTD gains of 25.3% and 31% over the last year.

Since late October, Tesla has consistently traded above its 50-day moving average, while it has remained above its 200-day moving average since mid-August.
 



When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss. 

Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.
 


Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

Frances Wang
Written by
Frances Wang
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Table of Contents
  • 1. UnitedHealth Group (UNH)
  • 2. MicroStrategy (MSTR) 
  • 3. SoundHound (SOUN)
  • 4. SentinelOne (S)
  • 5. Tesla (TSLA)

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