Hot or Not, Stock Market Edition: 12/6/2024

What's trending in the market right now? Salesforce (NYSE: CRM) and Amazon (NASDAQ: AMZN) enjoyed nice gains this week; Couchbase (NASDAQ: BASE) lost over 20% despite posting better-than-expected revenue, while Unusual Machines (NYSE: UMAC) continued a downward spiral that has diminished the stock's value by more than 50%. Want access to more big movers? Check out the biggest winners and biggest losers on WSZ. 

🔥 HOT: Shares of Salesforce (NYSE: CRM) popped for an 11.0% gain on Wednesday after it significantly beat its third-quarter revenue estimates. Enthusiasm for Salesforce has been growing as the company continues to hype up its upcoming AI product line. Last month, Salesforce’s CEO, Marc Benioff, said that the company was so confident in its agentic AI system that it would hire 1,000 people to sell it. If that’s true, it would mark the first hiring surge for the company in over two years. Salesforce closed Wednesday up 41.2% YTD.

🥶 NOT: Cloud database provider Couchbase (NASDAQ: BASE) lost 21.9% on Wednesday despite posting better-than-expected revenue and EPS for the third quarter. The issue is that the company projected between $52.7 and $53.5 million in revenue for the fourth quarter, which is just shy of the consensus estimate of $54 million Wall Street was expecting to hear. BASE has had a rough year, losing 25.9% YTD after Wednesday’s loss, and gets a Zen Rating of C and a recommendation of hold.

🔥 HOT: Amazon (NASDAQ: AMZN) gained 2.2% on Wednesday to hit a new all-time high close of $218.16. Amazon’s recent out-performance is due to stronger-than-expected holiday sales and a recent announcement that it plans to accelerate production of a new AI supercomputer based on its proprietary Trainium 2 chips. Amazon has gained 44% since early August and maintains a Zen Rating of B and a buy recommendation.

🥶 NOT: Unusual Machines (NYSE: UMAC) lost 24.1% on Wednesday in a skid that’s now seen the company’s share price drop by 59.3% in just three trading days. Far from spelling trouble for the company—it remains up 125% YTD—the recent slide seems to be mostly due to profit-taking after the astronomical run-up it had in the month since Donald Trump’s election. Shares of UMAC jumped by almost 90% last week after it was announced that Donald Trump Jr. would serve as an advisor to the company. We still give the stock a cautious C Zen Rating, reflecting the stock’s high volatility and uncertain future.

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