Merger and acquisition rumors are driving the up-and-down volatility in Paramount Global (PARA) stock. After trading at its resistance on the 200-day simple moving average at below $14.00, the stock closed at $12.37 yesterday.
PARA stock lost 8.51% after worries mounted over the tentative merger with Skydance. Skydance, the acquirer, might need Paramount to raise $3 billion of debt to complete the deal. The debt raise is puzzling. The media firm could choose to wait for its subscribers to grow, expenses to fall, and market conditions in the entertainment and advertising business to rebound.
After Nvidia (NVDA) unveiled new artificial intelligence hardware, markets realized how behind AMD (AMD) is. Shares fell by 8.26%. Its next support zones are $150, $136, and $118.38. AMD stock closed at $165.83.
In the automotive space, Ford Motor (F) traded as high as $13.95 before ending the day at $13.21, down by 3.22%. Executives realize that the EV segment loses too much money. Ford will delay its new three-row EVs from a 2025 release to 2027. Sensing strong consumer interest in hybrid vehicles, where Toyota (TM) is the leader, Ford will expand hybrid powertrain models.
Investors should continue to shun EV stocks, especially Nio and Xpeng. Beware of Rivian (RIVN) stock. It is about to break below its 52-week low of $10.05.
