Tesla, Amazon, Lucid, Wayfair, Sumo Logic: hot stocks

Major Wall Street indexes closed in the green on Monday as investors and traders began to consider the possibility of a slower pace of rate hikes from the Federal Reserve. A Wall Street Journal report said central bank officials are preparing to slow the pace of rate hikes for a second consecutive meeting in early February in growing hopes of reducing inflation. Fed Governor’s Comments Christopher Waller Friday, which indicated favor for a quarter-percentage-point rate hike at the next meeting, boosted investor sentiment, according to CNBC. The following stocks have caught the attention of large investors:

1. Tesla Inc. TSLA: Tesla shares closed up 7.74% on Monday. The stock move could be attributed to overall market strength, the company’s recent reaction to price cuts and the CEO by Elon Musk ongoing lawsuit over his 2018 “secured funding” comments. Elon Musk told jurors on Monday he was sure he got financial backing from Saudi investors in 2018 to take Tesla private and could even have used his stake in SpaceX to fund a takeover, Reuters reported.

Also read: How to invest in startups

2. Amazon.com, Inc. AMZN: Shares of Amazon closed up 0.28% on Monday. The company announced the launch of Amazon air in India to further improve its transport network.

3. Lucide Group Inc. LCID: Shares of Lucid closed up 12.79% on Monday. City analyst Father Michaeli took over coverage of Lucid with a “Buy” rating and a price target of $12, about 50% higher than the current stock price.

4. Wayfair Inc. O: Shares of Wayfair closed up 26.8% on Monday. Several analysts updated the stock following the company’s profitability plan and trading performance update. JP Morgan analyst Christopher Horvers upgraded the stock from “Underweight” to “Overweight” and raised the price target from $35 to $63.

5. Sumo Logic Inc SUM: Shares of the company closed up 28.68% on Monday. Reports have indicated that several private equity firms have expressed interest in a potential acquisition. Companies including ThomasBravo, Vista Equity Partners and Francisco Partners approached Sumo Logic showing interest in a potential acquisition, according to a report by The Information.

Read more: Will inflation come back strong? All eyes are on China as oil prices hit 7-week highs

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