Movers: Apple, Las Vegas Sands, Lucid Group, MGM, Rivian, Tesla, Traeger, Wynn Resorts
- Scott Peters
- U.S.A. New York City
-
Apple fell on sales worries. Tesla plunged on weaker-than-expected sales in December. China-linked casino stocks advanced on the hopes of a rebound in social mobility.
Apple Inc declined 3.3% to $125.03 on the worries that iPhone sales may fall more than 20% in the latest quarter on the ongoing demand weakness in China and at home in the U.S.
Apple stock declined 18% in 2022 and investors worried that a slowing global economy may dampen the appetite for expensive electronic gadgets.
China-linked casino operators traded higher on the hopes of a rebound in social mobility.
MGM Resorts International declined 0.5% to $33.36, Las Vegas Sands Corp advanced 2.2% to $49.27 and Wynn Resorts increased 3.1% to $85.08.
Newmont Mining jumped 4.9% to $49.52 after gold jumped 1% to $1,837.93 an ounce.
Barrick Gold added 3.70% to $17.82 and Agnico Eagle Mines jumped 3.1% to $53.60.
Tesla Inc plunged 13.1% to $106.93 after the automobile maker's fourth quarter deliveries disappointed investors.
In the fourth quarter, Tesla produced 439,701 vehicles and delivered 405,278 vehicles.
In 2022, the company sold 1.31 million vehicles, 40% higher than a year ago.
In the 2021 fourth quarter Tesla delivered 308,600 vehicles and in full-year delivered 936,172 vehicles.
The company has been struggling to sell luxury vehicles in China after zero-Covid policy restricted mobility in the first ten weeks of the last quarter.
The weakness in Tesla deliveries spilled over to other electric vehicles stocks.
Rivian Automotive Inc dropped 6.3% to $17.27 and Lucid Group dropped 9.3% to $6.20.
Both luxury automotive companies are struggling with weak cash flows.
Traeger Inc declined 7.6% to $2.61 after RBC downgraded the stock to "sector perform" from sector outperform."
Annual Returns
| Company | Ticker | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Apple Inc | AAPL | -5% | 30% | 43% |
| Rivian Automotive Inc. | RIVN | -4% | -41% | -8% |
| Tesla Inc | TSLA | -12% | 74% | 48% |
| Barrick Gold Corporation | GOLD | 2% | -14% | 8% |
| Las Vegas Sands Corp | LVS | -2% | 3% | 2% |
| Traeger Inc. (TGPX Holdings I LLC) | COOK | 3% | -15% | -14% |
| Newmont Mining Corporation | NEM | 1% | -8% | -11% |