NVIDIA (NVDA) ranked first in Friday's U.S. stock trading volume, closing up 0.04% with $48.336 billion in turnover. The stock fell 7.08% this week.
On Monday, the SEC disclosed that prominent investor Michael Burry, through his Scion Asset Management, had taken a massive short position against NVIDIA, betting $186 million. The market reacted significantly.
Burry, known for successfully shorting the U.S. housing market before the 2008 financial crisis, recently adopted a similar strategy, targeting NVIDIA and Palantir—two companies emblematic of the AI boom.
According to regulatory filings, Burry spent approximately $1.1 billion on put options against these firms, including $186 million against NVIDIA and a staggering $912 million against Palantir.
Tesla (TSLA) ranked second, closing down 3.68% with $44.198 billion in turnover. The stock declined 5.9% this week. After Thursday's market close, Tesla held its annual shareholder meeting in Austin, Texas, where CEO Elon Musk’s nearly $1 trillion compensation package was approved with 75% shareholder support.
On September 5, Tesla’s board submitted this unprecedented compensation plan, designed to incentivize Musk to continue leading the company while dedicating more focus to Tesla.
The plan proposes granting Musk about 12% of Tesla’s shares, valued at $1.03 trillion, contingent on the company’s market cap reaching $8.5 trillion (currently around $1 trillion)—an eightfold increase and roughly double NVIDIA’s current valuation. This would make it the most extravagant executive compensation package in history.
Meta Platforms (META) ranked third, closing up 0.45% with $17.778 billion in turnover. The company announced plans to invest $600 billion in the U.S. by 2028 for AI data centers, infrastructure, and talent recruitment.
Palantir (PLTR) ranked fifth, rising 1.65% with $12.734 billion in turnover but dropping 11.2% this week. The company was heavily shorted by Burry, with $912 million in put options against it.
Alphabet (GOOGL) ranked ninth, falling 2.08% with $9.505 billion in turnover. Following a settlement with Epic Games, Google announced major changes to Android 17, introducing a "Registered App Stores" mechanism to address antitrust concerns over app distribution.
Robinhood (HOOD) ranked 13th, up 2.58% with $5.564 billion in turnover but down 11.2% this week. The crypto trading platform reported better-than-expected earnings but announced its CFO’s departure in Q1 next year.
SanDisk (SNDK) ranked 16th, surging 15.31% with $4.481 billion in turnover. The company reported strong quarterly results, with revenue up 21% sequentially and 23% YoY, driven by a 15% increase in NAND bit shipments.
Eli Lilly (LLY) ranked 18th, down 1.39% with $4.008 billion in turnover. The company, along with Novo Nordisk, reached a deal with the Trump administration to significantly lower prices for its weight-loss drug in exchange for tariff relief and broader Medicare coverage.
The agreement, announced at a White House event, will expand Medicare reimbursement for popular drugs, benefiting more elderly Americans.
(Screenshot source: Sina Finance App – Market – U.S. Stocks – Stock Market Section. Swipe left for more data.)