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Tesla, Amazon, Dlocal, Nvidia, Target: Elon Musk's Potential Successor, Layoffs, Short Report Draw Investors' Attention Today

U.S. markets closed in the red on Wednesday after Target Corporation’s TGT decline in holiday-quarter sales brought down retail stocks. The Nasdaq closed over 1.5% lower, while the S&P 500 and the Dow ended the session 0.83% and 0.12% lower, respectively. Meanwhile, here are the five stocks that are drawing retail investors’ attention today:

1. Tesla Inc TSLA: James Murdoch, a Tesla director, testified in court on Wednesday that Elon Musk, in the last few months, has identified someone as a potential successor to lead the company, reported Reuters. Shares of the EV-maker closed 3.86% lower on Wednesday.

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2. Amazon.com, Inc. AMZN: Senior Vice President of Devices at Amazon, Dave Limp, said in a blog post on Wednesday the retail giant has decided to consolidate its teams and programs. One of the consequences of these decisions is that some roles will no longer be required, he said. Amazon shares closed 1.84% lower on Wednesday.

3. NVIDIA Corporation NVDA: The chipmaker reported a 17% fall in its third-quarter revenue at $5.93 billion. However, the company posted a 31% year-over-year rise in its data center revenue at $3.83 billion. Shares of Nvidia rose 2% in extended trading on Wednesday.

4. Dlocal Ltd DLO: Shares of the Uruguayan financial technology company closed over 50% lower on Wednesday after Muddy Waters said it was short on its stock. Muddy Waters said its research indicates DLO is likely a fraud and that it has concerns over the company’s disclosures about, and controls of, client funds.

5. Target Corporation: Shares of the company closed over 13% lower on Wednesday after it reported third-quarter GAAP earnings per share (EPS) of $1.54, down 49.3% from $3.04 a year earlier. Target said it is prudent to plan for a wide range of sales outcomes in the fourth quarter, centered around a low-single-digit decline in comparable sales, consistent with those recent trends.

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