Top 5 Trending Stocks: META, MSFT, HOOD, SMCI, COIN

On Wednesday, U.S. stock indices experienced a decline, with the Dow Jones Industrial Average falling 0.2% to close at 42,141.54. The S&P 500 saw a slight drop of 0.3%, ending at 5,813.67. The Nasdaq Composite faced a more significant setback, sliding nearly 0.6% to reach 18,607.93.

In economic news, the U.S. economy grew by 2.8% in the third quarter, which was lower than the anticipated 3% growth. Meanwhile, the ADP report highlighted a substantial increase in private payrolls for October, showing an addition of 233,000 jobs, significantly surpassing expectations.

Among the stocks gaining traction among retail traders and investors, here are the top picks from the day:

Meta Platforms Inc. (META) saw a slight decline of 0.25%, ending the day at $591.80. During the trading session, the stock reached a high of $601.20 and dipped to a low of $589.38. Its 52-week range spans from $296.86 to $602.95. Meta reported third-quarter revenue of $40.59 billion, exceeding analyst expectations of $40.29 billion. Furthermore, the company's adjusted earnings per share stood at $6.03, surpassing the forecast of $5.25 per share.

Microsoft Corporation (MSFT) recorded a marginal rise of 0.13%, closing at $432.53. The stock reached an intraday high of $438.50 and a low of $432.10, with a 52-week range between $334.69 and $468.35. Microsoft reported its first-quarter revenue at $65.60 billion, marking a 16% year-over-year increase and surpassing the consensus estimate of $64.51 billion.

Robinhood Markets Inc. (HOOD) ended the day up by 0.64%, closing at $28.21. The intraday high was $28.58 while it dipped to a low of $27.55. Its 52-week range is from $7.91 to $28.58. Robinhood's quarterly earnings came in at 17 cents per share, aligning with analyst expectations. However, its quarterly revenue of $637 million fell short of the consensus estimate of $650.67 million.

Super Micro Computer Inc. (SMCI) suffered a dramatic decline of 32.68%, closing at $33.07. The stock had an intraday high of $38.00 and touched a low of $32.20, with a 52-week range between $22.66 and $122.90. The sharp drop in Super Micro's shares followed the resignation of its auditor, Ernst & Young, which cited governance, transparency, and ethical concerns. In response, the company's board formed a special committee to investigate the raised issues.

Coinbase Global Inc. (COIN) closed down 3.61% at $211.74. The stock’s intraday high was $220.46, while its low was $209.47, reflecting a 52-week range of $73.56 to $283.48. The cryptocurrency exchange reported third-quarter revenue of $1.21 billion, which was below the consensus estimate of $1.26 billion.

Overall, these stocks caught the attention of investors amid a day characterized by slight market declines and mixed economic signals, shedding light on the ever-changing landscape of investment opportunities.

stocks, trading, economy