U.S. stocks closed higher on Friday, with the Dow Jones gaining more than 400 points. Here is the list of some big stocks moving lower in the previous session.
Gainers
Embark Technology, Inc. (NASDAQ: EMBK) jumped 84.8% to close at $1.07 on Friday after the company reported better-than-expected Q2 EPS results.
Billionaire investor George Soros’ investment management firm, Soros Fund Management LLC, opened a fresh position in electric vehicle pioneer Tesla, Inc. (NASDAQ: TSLA) and doubled down on beaten-down tech stocks.
Notwithstanding the broader market rally, electric vehicle stocks closed the week ending Aug. 12 on a mixed note. Market leader Tesla, Inc. (NASDAQ: TSLA) picked up momentum in the run-up to its stock split, which is set to take effect on Aug. 25.
When looking to invest in small-cap companies, it can prove to be benefical investing in small-caps that have proven profitability and willingness to conduct shareholder distributions while reinvesting in the firm.