Lithium Americas, Reddit, Nike, Plug Power, Pfizer: Stocks Making The Biggest Moves Today

U.S. equities gained in Wednesday’s midday trade after opening in the red due to the United States government entering its first shutdown in nearly seven years.

Weak jobs data raised the hopes of an interest rate cut later this month, after a report by ADP showed that private payrolls declined 32,000 in September, while Wall Street expected an addition of 45,000 jobs during the month. According to the CME FedWatch tool, the probability of a 25-basis-point rate cut in October has increased to 99%, up from 94.6% on Wednesday.

The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 0.09% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, rose 0.18%. The SPDR Dow Jones Industrial Average ETF Trust (DIA), which tracks the Dow Jones Industrial Average, edged up by 0.05%.

Here are the top stocks making the biggest moves in Wednesday’s midday trade:

Lithium Americas Corp. (LAC)

Lithium Americas’ shares were up nearly 27% in Wednesday’s midday trade after the U.S. government confirmed that it would pick up a 5% stake in the company, along with a 5% stake in the Thacker Pass lithium mine.

LAC stock is up 144% year-to-date.

Reddit Inc. (RDDT)

Reddit shares were down more than 9% after data from AI search engine tracker Promptwatch showed that OpenAI’s ChatGPT cited content from the social media platform in less than 2% of its responses, compared to a peak of 14% in September.

RDDT stock is up 28% year-to-date.

Nike Inc. (NKE)

Nike shares surged by nearly 11% in Wednesday’s midday trade after the company’s first-quarter (Q1) results beat Wall Street expectations. Nike reported earnings per share (EPS) of $0.49 on revenue of $11.72 billion, compared to analyst expectations of an EPS of $0.27 on revenue of $10.99 billion, according to Stocktwits data. Nike’s Q1 performance resulted in a slew of price target hikes from analysts on Wednesday, according to TheFly.

NKE stock is up 7% year-to-date.

Plug Power Inc. (PLUG)

Plug Power shares were up more than 20% in Wednesday’s midday session after the company announced that it shipped its first 10-megawatt GenEco electrolyzer module to Galp, an energy company based in Portugal. This is the first of 10 planned units, the company stated.

PLUG stock is up 31% year-to-date.

Pfizer Inc. (PFE)

Pfizer shares continued to climb on Wednesday, surging 13% in midday trading and surpassing the nearly 7% surge on Tuesday. President Donald Trump had announced that the drugmaker would receive a three-year exemption from national-security-related tariffs. In exchange, the company would have to offer some of its drugs on a new government-run direct-to-consumer website called TrumpRx, as well as make investments in domestic manufacturing.

PFE stock is up 2% year-to-date.

Also See: Fermi Stock Makes A Strong Debut On Nasdaq

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