Friday's Top 5 Trending Stocks: What's Going On With SMCI, Nvidia, MicroStrategy?

Erica Kollmann

November 29, 2024

Super Micro Computer, Inc. (NASDAQ:SMCI), Nvidia Corp. (NASDAQ:NVDA), MicoStrategy, Inc. (NASDAQ:MSTR), SoFi Technologies, Inc. (NASDAQ:SOFI) and Tesla, Inc. (NASDAQ:TSLA) are the top five trending tickers on Yahoo Finance Friday. Here's a look at what grabbed retail investors' attention as much of Wall Street took the day off.

SMCI: Super Micro shares are dropping Friday as the stock continues its rollercoaster of ups and downs. Allegations of financial misconduct at SMCI, the resignation of its auditor and the potential delisting of its stock have caused shares to tumble more than 60% over the past six months. Earlier this week, the company disclosed that it had prepaid and ended its loan agreements with Cathay Bank and Bank of America N.A.

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NVDA: Traders are hopeful that less stringent sanctions on semiconductor equipment and AI memory chips are coming, following reports that an announcement could be expected as soon as next week. Nvidia and other semiconductor stocks are up on the news.

MSTR: MicroStrategy's stock looks to be running out of steam as the trading week draws to an early close on Friday. However, the stock has gained nearly 50% over the past month as the price of Bitcoin climbed to just under the $100,000 mark.

SOFI: SoFi shares are back on the list as this retail investor favorite continues to climb, notching gains of more than 55% over the past month. The company recently announced the launch of its Robo-Advisor platform, which leverages a partnership with BlackRock to expose investors to new strategies and funds.

TSLA: Tesla rounds out the list on Friday, trading higher on relatively light volume. Tesla shares have rebounded more than 90% in the second half of the year as CEO Elon Musk took a prominent role as President-elect Donald Trump's new advisor. It remains unclear what effect the Trump administration will have on the EV industry and Tesla as a result.

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Image: Gerd Altmann from Pixabay

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