In the latest intraday trading, several companies have experienced notable stock movements.
KULR Technology Group saw a surge of over 40% after purchasing 217.18 Bitcoins, valued at approximately $21 million, marking its initiation of a Bitcoin treasury initiative. This move aligns with the company’s strategy to potentially allocate up to 90% of its surplus cash to Bitcoin, inspired by MicroStrategy.
Honda’s U.S. stock increased by more than 4% amid reports of formal merger discussions with Nissan. This growth contributes to an overall rise of over 18% for the week. Similarly, Toyota Motor Corporation’s shares rose by more than 8% following news that it aims to double its return on equity (ROE) target to 20%.
Alibaba’s stock increased by about 0.7% after announcing a partnership with South Korean retailer Shinsegae, although it remains down by more than 1% for December. GameStop experienced a nearly 6% rise, continuing its upward trend and showing an approximate 85% increase year-to-date.
In the cryptocurrency market, stocks related to Bitcoin experienced some losses, with Bitcoin itself trading around $96,000, down roughly 11% from its peak. Stocks like Coinbase and MicroStrategy saw declines, alongside mining firms Mara Holdings and Airen.
Broadcom’s stock rose over 2%, continuing a robust monthly performance and achieving a 51% increase in December alone. Assembly Biosciences also saw a gain of 4.5% after announcing positive clinical trial results for a hepatitis B treatment.
Meanwhile, Kewaunee Scientific’s shares increased by over 4% following a stock sale by its Chief Financial Officer, reflecting a steady trend among healthcare product firms.