RIVN, META, ALLR, TSLA, SAVA: Top 5 Trending Stocks – Meta Platforms (NASDAQ:META), Tesla (NASDAQ:TSLA), Rivian

U.S. stocks traded mostly lower toward the end of trading, with the Dow Jones dropping around 120 points on Wednesday. The Dow traded down nearly 0.4% to 34,288.64 while the NASDAQ fell 0.18% to 13,791.65. The S&P 500 also fell, dropping 0.2% to 4,446.82.

The minutes of the Federal Open Market Committee (FOMC) meeting on June 14 reveal a strong consensus among board members for additional interest rate hikes in 2023.

These are the top stocks that gained the attention of retail traders and investors throughout the day:

Rivian Automotive Inc (NASDAQ:RIVN)

Rivian stock closed 4.45% higher on Wednesday at $20.43. The stock had an intraday high of $21.05 and an intraday low of $19.43.The stock has a 52-week high of $40.86 and a 52-week low of $11.68. Rivian’s second-quarter deliveries beat showed that there is demand for its vehicles, which can be manufactured at increasing scale and leverage on per-unit costs.

Meta Platforms Inc (NASDAQ:META)

Meta Platforms stock closed 2.92% higher on Wednesday at $294.37. The stock had an intraday high of $298.12 and an intraday low of $286.36. The stock has a 52-week high of $298.12 and a 52-week low of $88.09. The company is set to launch a new app that will compete with Twitter on Thursday.

Allarity Therapeutics, Inc (NASDAQ:ALLR)

Allarity Therapeutics stock closed 31.43% higher on Wednesday at $8.28. The stock had an intraday high of $13.49 and an intraday low of $5.64. The stock has a 52-week high of $3276 and a 52-week low of $5.64. The company said the initial data from the Phase 2 trial of Ixempra shows potential for improved clinical benefit in DRP-selected metastatic breast cancer patients.

Tesla Inc (NASDAQ:TSLA)

Tesla stock closed 0.95% higher on Wednesday at $282.48. The stock had an intraday high of $283.85 and an intraday low of $277.6. In the wider picture, the stock has a 52-week high of $314.67 and a 52-week low of $101.81. The highly anticipated Cybertruck launch later this year is expected to be a game-changer for the electric vehicle giant.

Cassava Sciences, Inc (NASDAQ:SAVA)

Cassava Sciences stock closed 12.95% lower on Wednesday at $22.04. The stock had an intraday high of $27.21 and an intraday low of $21.06. The stock has a 52-week high of $51.59 and a 52-week low of $13.84. The company announced the top-line clinical results from its Cognition Maintenance Study where oral simufilam in patients with mild-to-moderate Alzheimer’s slowed cognitive decline.

When the premarket session opens, stay on top of things with your trading.