10 Market-Moving Stocks to Watch on Monday

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In this article, we will discuss 10 market-moving stocks to watch today. To take a look at some more stocks that are trending, go to 5 Market-Moving Stocks to Watch on Monday.

Following April’s tumultuous trading, investors are preparing themselves for more market-moving developments this week. The stock market is in the red today, with the S&P 500 Index, NASDAQ 100 Index, and the Dow 30 Index down 0.42%, 0.13%, and 0.40%, respectively, as of 11:43 AM ET. Meanwhile, the benchmark 10-year Treasury yield is hovering above 2.9%. Some of the popular stocks trending today include HSBC Holdings plc (NYSE:HSBC), Moderna, Inc. (NASDAQ:MRNA), and Align Technology, Inc. (NASDAQ:ALGN).

Let’s look at why these stocks are moving today and discuss how hedge funds are positioned in them.

10. Amazon.com, Inc. (NASDAQ:AMZN) is down 4.13% as of 9:40 AM ET after Wedbush eliminated the stock from its Best Ideas List. The firm cited its investment price discipline as the reason for removing Amazon.com, Inc. (NASDAQ:AMZN) from the list. This decision was made following Amazon.com, Inc.’s (NASDAQ:AMZN) worst day in 15 years, which wiped away $206 billion of the company’s market capitalization. In the last seven years, Amazon.com, Inc. (NASDAQ:AMZN) recorded its first quarterly loss in Q1 2022.

As of Q4 2021, 279 hedge funds held a position in Amazon.com, Inc. (NASDAQ:AMZN).

9. Sage Therapeutics, Inc. (NASDAQ:SAGE) is up 1.48% as of 9:38 AM ET after the biopharmaceutical company announced that it had started rolling submission of a drug application to the US FDA. Zuranolone is meant to be used in the treatment of the major depressive disorder. Sage Therapeutics, Inc. (NASDAQ:SAGE) has submitted the nonclinical module of the NDA and expects to submit the other components for the filing in the second half of the year.

Citadel Investment Group is the leading investor in Sage Therapeutics, Inc. (NASDAQ:SAGE) as of Q4 2021. Of the 924 hedge funds in Insider Monkey’s database, 20 funds held a position in Sage Therapeutics, Inc. (NASDAQ:SAGE) at the end of Q4 2021.

8. Innoviz Technologies Ltd. (NASDAQ:INVZ) has risen over 20% as of 9:40 AM ET after the company revealed that it had been selected as the direct LiDAR supplier for multiple brands by one of the world’s largest vehicle manufacturers. This selection is Innoviz Technologies Ltd.’s (NASDAQ:INVZ) third major design achievement. Innoviz Technologies Ltd.’s (NASDAQ:INVZ) forward-looking order book is expected to increase by $4 billion – $6.6 billion as a result of the agreement. Innoviz Technologies Ltd. (NASDAQ:INVZ) will be sharing the details of the deal on May 11.

At the end of Q4 2021, 22 hedge funds held a stake in Innoviz Technologies Ltd. (NASDAQ:INVZ).

7. Activision Blizzard, Inc. (NASDAQ:ATVI) has climbed 2.11% as of 10:03 AM ET after Warren Buffett’s Berkshire Hathaway revealed that it had increased its investment in the company. The hedge fund increased its stake in Activision Blizzard, Inc. (NASDAQ:ATVI) to 9.5% in a merger arbitrage bet. In January, Microsoft revealed its plans to purchase Activision Blizzard, Inc. (NASDAQ:ATVI) for $95 per share. Buffett revealed that he had been increasing his investment since the announcement of the deal as Activision Blizzard, Inc.’s (NASDAQ:ATVI) stock has been trading below Microsoft’s offer. Accumulating the stock at this level would result in decent returns at the closure of the deal.

As of Q4 2021, 70 hedge funds reported owning a stake in Activision Blizzard, Inc. (NASDAQ:ATVI). Markel Gayner Asset Management had a stake worth over $36 million in Activision Blizzard, Inc. (NASDAQ:ATVI) during Q1 2022.

6. Bilibili Inc. (NASDAQ:BILI) has slumped 3.99% as of 10:14 AM ET after the gaming company’s price target was lowered at Jefferies. The price target on Bilibili Inc. (NASDAQ:BILI) was slashed from $61.5 per share to $51.3 per share. The move came after Bilibili Inc.’s (NASDAQ:BILI) decreased its revenue outlook owing to Covid-19 lockdowns in China. Bilibili Inc. (NASDAQ:BILI) stated that the “macro-economic disruption caused by the Covid-19 resurgence” has adversely impacted the business fundamentals.

Overall, 33 hedge funds reported owning a stake in Bilibili Inc. (NASDAQ:BILI) at the end of Q4 2021.

In addition to Bilibili Inc. (NASDAQ:BILI), popular stocks moving today include HSBC Holdings plc (NYSE:HSBC), Moderna, Inc. (NASDAQ:MRNA), and Align Technology, Inc. (NASDAQ:ALGN).

Click to continue reading and see 5 Market-Moving Stocks to Watch on Monday.

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Disclose. None. 10 Market-Moving Stocks to Watch on Monday is originally published on Insider Monkey.