Hot or Not, Stock Market Edition: 01/09/2025

Hot, hot, hot! Unifirst (NYSE: UNF) has a searing 20% gain in a single day. Carvana (NYSE: CVNA) triumphs following a hit piece. 

Not as hot: Nvidia (NASDAQ: NVDA) has a significant drop. Palantir (NASDAQ: PLTR) tops the “worst” list (at least for the day). Here’s what we’re following.

📈 Want more? Check out the biggest winners and biggest losers on WSZ. 



🔥 HOT: Shares of Unifirst (NYSE: UNF) gained 20.9% on Tuesday after news broke that Cintas offered to buy the company for $5.3 billion. Word on Wall Street is that the offer has been on the table since November 8th, but Unifirst’s board has yet to deliberate on the offer. While it’s unclear whether or not an acquisition will happen, Cinta’s valuation sparked the market to adjust its own opinion of UNF. As for our opinion, we give UNF a B Zen Rating due to its solid balance sheets and the generally upbeat sentiment surrounding the company.

🥶 NOT: Palantir (NASDAQ: PLTR) held the dubious honor of being the worst performer in the S&P 500 on Tuesday, losing 7.8%. The stock has produced outsized returns over the last year, gaining 331.5%, but its momentum could be stalling. ARK Investment Management sold off nearly 200,000 shares of PLTR worth approximately $14 million in a move that signals the cooling off of Wall Street’s enthusiasm for AI as we head into 2025. In light of that news, we give PLTR a C Zen Rating and a recommendation of Hold.

🔥 HOT: Shares of Carvana (NYSE: CVNA) rose by 4.1% on Tuesday after a week of losses following a short-selling report published by Hindenberg Research last week. The catalyst for the gain comes from RBC Capital’s Brad Erickson, who raised CVNA’s price target to $280 per share. RBC Capital feels that the market’s response to the Hindenberg report was an overreaction and that Carvana’s current price of $196.18 per share represents a buying opportunity. We agree and give CVNA a B Zen Rating and a corresponding Buy recommendation.

🥶 NOT: Nvidia (NASDAQ: NVDA) dropped by 6.3% on Tuesday after the company’s CEO, Jensen Huang, announced several new pieces of technology during the keynote address at the CES tech conference. Nvidia announced that it is releasing a consumer-grade workstation that runs on its latest Blackwell chips and that it was partnering with autonomous driving company Aurora Innovation. While both of those announcements constitute good news, NVDA plummeted due to the absence of any news about the company’s next generation of chips. Investors are growing worried that Nvidia might not have any more tricks up its sleeves that will be able to keep it ahead of the competition.

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