Biggest stock movers Tuesday: DJT, LI, and more

Stock futures dipped Tuesday morning as investors weighed Fed Chairman Jerome Powell’s remarks that rate cuts aren’t on a set path, while awaiting a series of key economic data due later in the day.

Here are some of Tuesday’s biggest stock movers:

Biggest stock gainers

• Trump Media & Technology Group’s (DJT) shares jumped 7% after the company announced that Truth Social’s custom-built content delivery network (CDN) is now operational at multiple sites across the U.S. CEO Devin Nunes stated that the CDN is performing well and expanding rapidly, with more data centers and streaming capabilities in the pipeline. The company also plans to release standalone apps as part of the CDN expansion.
• Li Auto (LI) shares rose over 4% following the announcement of a 48.9% Y/Y increase in September 2024 vehicle deliveries, reaching 53,709 units. This growth contributed to a 45.4% Y/Y rise in third-quarter deliveries to 152,831, bringing the total for 2024 to 341,812. With cumulative deliveries reaching 975,176, Li Auto has solidified its position as a leading player in China’s new energy vehicle market, capturing over 17% of the RMB200,000 and above NEV market share. The company’s strong order intake for Li L series and Li MEGA has fueled record deliveries in September, reflecting the increasing dominance of leading brands in the growing NEV market.
• XPeng (XPEV) shares gained nearly 4% following the announcement of a record-breaking 21,352 Smart EV deliveries in September 2024, representing a 39% Y/Y increase and a 52% surge from the previous month. The launch of XPENG MONA M03 also exceeded expectations, with over 10,000 units sold in its first month. Cumulative deliveries for the year reached 98,561, a 21% increase compared to the same period in 2023.

Biggest stock losers

• New Fortress Energy (NFE) shares extended losses by 4% Tuesday morning after closing 7% lower on Monday, following the decision to delay the payment of its previously declared $0.10 a share quarterly dividend. NFE decided to postpone the dividend payment, originally scheduled for September 27, to focus on addressing its near-term financial needs through an agreement with its noteholders. After finalizing this agreement, the company will reassess the dividend payment, including its amount and timing.