The most actively traded stocks are a great starting point for investors. Find them here when the market opens. Ignore the companies that trade at a low stock price and/or market capitalization:
https://baystreet.ca/marketstats/
Companies to ignore include Nikola (NKLA), whose shares traded at 75 cents yesterday, down 10%. In the clean energy space, Plug Power (PLUG) will top the most actively traded stocks.
The most notable fundamental news for investors is in the automotive sector. Short sellers accumulated a massive 42% short interest against Fisker (FSR). Its 2023 production of 10,142 in the year did not impress shareholders. Fisker Ocean One launch edition costs $68,999. This is too high for the struggling consumer.
On the bullish side, Toyota reported U.S. sales grew by 6.6% to an impressive 2.2 million units. EV demand helped results as Toyota sold 657,300 electrified vehicles. Mazda (MZDAY) reported a 44.8% increase in December 2023 sales, to 39,519.
Hyundai (HYMTF) and its subsidiary Kia Corporation reported weak 2024 sales projections. It expects to increase sales by just 0.6% globally, to 4.24 million. Kia expects to sell 3.2 million units, up by 3.7% from 2023.
In the fintech space, the selling pressures are intensifying. Analysts at KBW downgraded SoFi, helping short-sellers. Yesterday, SOFI stock fell by around 14%. The short interest is 14.36%. Nuvei (NVEI) shares fell in sympathy, as did buy now, pay later firm Affirm (AFRM) lost nearly 7%.
