COIN, RIOT, MDB, ASAN, NIO: Why These 5 Stocks Are Trending Today – Asana (NYSE:ASAN)

U.S. stocks exhibited a mixed performance On Tuesday, with the Nasdaq Composite showing an uptick. The Dow, however, traded down by 0.22% to 36,124.56, while the NASDAQ rose by 0.31% to 14,229.91. The S&P 500 experienced a slight drop, falling by 0.06% to 4,567.18.

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

MongoDB, Inc. (NASDAQ:MDB)

MongoDB’s stock closed at $433.67, marking a 2.52% increase. The stock fluctuated between a high of $435 and a low of $420.51, with a 52-week range of $142.02 to $442.84. MongoDB reported a 30% year-over-year increase in third-quarter revenue, reaching $432.9 million and surpassing estimates. Adjusted earnings were at 96 cents per share, beating analyst predictions. The company’s CEO, Dev Ittycheria, highlighted their success in acquiring new workloads across various segments.

NIO Inc. (NYSE:NIO)

NIO Inc. ended the day at $7.43, up by 1.50%. The stock’s intraday movement ranged from $7.38 to $7.96, with 52 weeks of $7 to $16.18. The electric vehicle maker saw a surge in stock value following a record 55,432 EV deliveries in the third quarter, a significant year-over-year increase. This growth was driven by strong demand for their premium electric SUVs.

Coinbase Global, Inc. (NASDAQ:COIN)

Coinbase Global’s shares closed at $140.2, a slight decrease of 0.63%. The stock hit an intraday high of $147.86 and a low of $139.18, with a 52-week range of $31.55 to $147.86. Analyst John Todaro of Needham maintained a Buy rating on Coinbase, raising the price target from $120 to $160. The growth in crypto markets and institutional interest in crypto assets contributed to this positive outlook.

Asana, Inc. (NYSE:ASAN)

Asana’s stock price settled at $23.31, witnessing a 2.19% increase. The stock ranged between $22.31 and $23.44 throughout the day, with a 52-week high and low of $26.27 and $11.32, respectively. Asana reported a narrower-than-expected quarterly loss and a year-over-year increase in sales. CEO Dustin Moskovitz commented on the company’s better-than-expected performance and significant year-over-year improvement in operating margin.

Riot Blockchain, Inc. (NASDAQ:RIOT)

Riot Blockchain closed at $15.14, up by 0.93%. The stock’s daily high was $16.02, and the low was $14.85, with a 52-week range of $3.25 to $20.65. The company, along with other Bitcoin (CRYPTO: BTC) miners, saw an uptick as Bitcoin’s price continued to climb, crossing the $42,000 mark. This rally is partly attributed to optimism surrounding a potential spot ETF and expectations of rate cuts from the Federal Reserve.

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