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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Micon Technology (MU) shares surged in premarket trading after its quarterly sales forecast exceeded Wall Street estimates, signaling that an AI-fueled growth run remains strong. The company has secured strategic customer agreements that average three years in length, which suggests it can mitigate boom-and-bust cycles in the memory chip industry.
- Alibaba (BABA) shares are lower after Anthropic PBC accused Alibaba Group Holding Ltd. of waging a large-scale effort to “illicitly” access its Claude artificial intelligence model using thousands of fraudulent accounts.
- Wendy's (WEN) shares continue to soar amid a meme stock craze. A post on Reddit's WallStreetBets that implored its members to "save Wendy's before it's too late" appeared to be the reason for the stock's climb. Analysts attribute the surge to "meme stock mania" and the company's nostalgia appeal, with its stock having tumbled over 70% since mid-2023 and short sellers making it vulnerable to a price spike.
- Hertz (HTZ) is continuing its downward trend after the company warned of pressure on earnings and plans to issue new debt.

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