Check financial news and market trends on East Money, and choose East Money Securities for one-stop account opening and trading services. On December 10th, local time, the three major US stock indices experienced volatility and closed lower. Among the notable individual stocks, Alphabet, Google’s parent company, and Tesla saw their stock prices rise, approaching historical highs. US chip stocks declined, with Nvidia experiencing a significant drop, closing down over 2%.
uniQure, a pharmaceutical company specializing in the treatment of genetic rare diseases, saw its stock price soar, with an increase of more than 138% at one point, triggering a circuit breaker during trading. On December 10th, local time, the three major US stock indices showed signs of weakness. According to data, by the close, the Dow Jones Industrial Average fell by 0.35%, the S&P 500 index fell by 0.
30%, and the Nasdaq index fell by 0.25%. Among the seven major US technology companies, Alphabet and Tesla stood out, with their stock prices approaching historical highs. Alphabet’s stock price rose rapidly after the opening and then fluctuated at high levels. By the close, it had increased by 5.59%, reporting at $185.17, with the latest total market capitalization reaching $2.27 trillion; the highest intraday touch was $186.
36, nearing its historical high of $191.277. In terms of news, Google announced on its official website on the 9th that it had developed a chip for a quantum computer called “Willow,” claiming that the chip has outstanding error correction capabilities, solving a key problem in the field that has been researched for nearly 30 years. Willow can complete a standard benchmark calculation in less than 5 minutes, while the fastest supercomputers today would take “10 to the power of 25” years, a number far exceeding the age of the universe.
Tesla opened high and continued to rise, reaching $409.725 at one point during trading, with an increase of over 5%, nearing its historical high of $414.497; by the close, Tesla had risen by 2.87%, with its stock price closing above $400, reporting at $400.99, and the latest total market capitalization was $1.29 trillion. In terms of news, Tesla’s Investor Relations Director, Travis Axelrod, shared at a Deutsche Bank conference with investors that the company is expected to deliver an affordable model, Model Q, in the first half of next year.
The internal code name for the new Model Q car is “Redwood,” which will be 15% smaller in size compared to the existing Model 3 and will have a 30% reduction in overall vehicle weight. The new car’s body length is approximately 3988mm, with a significantly reduced manufacturing cost compared to Model 3, with an expected halving of costs. The new model will offer both single-motor and dual-motor all-wheel-drive versions, with an expected driving range of 500 kilometers.
On December 10th, local time, US chip stocks experienced a widespread decline. According to data, by the close, the Philadelphia Semiconductor Index fell by 2.47%. Among the constituents, Micron Technology dropped over 4%, while Broadcom, TSMC, and Intel all fell more than 3%, with Nvidia plunging over 2%. Notably, Nvidia, the leader in US chip stocks, quickly rose after the market opened, with gains exceeding 2%, only to plummet thereafter.
According to the WeChat public account ‘Market News’, recently, Nvidia has been suspected of violating the Anti-Monopoly Law of the People’s Republic of China and the ‘Announcement on the Anti-Monopoly Review Decision for the Acquisition of Mellanox Technologies Co., Ltd. by Nvidia Corporation with Additional Restrictive Conditions’ (Announcement No. 16 of 2020 by the State Administration for Market Regulation).
The State Administration for Market Regulation has legally initiated an investigation into Nvidia. In response, Nvidia stated that it strives to provide the best products in every region and fulfills its commitments wherever it operates; it is more than willing to answer any questions from regulatory authorities about its business.
uniQure surges over 138%, triggering circuit breakers on December 10th, local time. The pharmaceutical company engaged in the treatment of rare genetic diseases, uniQure, saw its stock price soar at the opening, with an increase of over 138%, triggering circuit breakers. By the close, its increase stood at 109.73%, at $15.30, with the latest total market value at $746 million. In terms of news, for uniQure’s Regenerative Medicine Advanced Therapy (RMAT), the FDA agreed to compare the data from the ongoing Phase I/II study with natural history external controls to accelerate the approval pathway, thereby avoiding additional pre-submission steps.
The FDA also agreed to use cUHDRS as an intermediate clinical endpoint, and the reduction of neurofilament light chain (NfL) measured in cerebrospinal fluid (CSF) can serve as supportive evidence for the therapeutic effect in the accelerated approval application. On the same day, several institutions raised their target stock prices for uniQure. Raymond James raised its rating from ‘Outperform’ to ‘Strong Buy’, adjusting the target price from $20 to $52.
