In Thursday’s stock trades, expect Nvidia (NVDA) to top the most actively traded stocks. 369 million shares traded hands yesterday.
Nvidia bulls will grow increasingly concerned about insider sales. Although it is an automatic sale through a Rule 10b5-1 trading plan, markets will notice CEO Jensen Huang’s $27.6 million stock sale. In the last month, NVDA stock traded at above $125 but failed to break out.
AST SpaceMobile (ASTS), which traded at around $2.00 earlier this year, closed at $33.08. The firm confirmed that it will launch its satellites on or after September 12. The firm has no plans to issue new stock. When it announced the redemption of its warrants, it would add over $440 million in cash to its balance sheet.
Bears should cover ASTS stock. They hold a 22.11% short float against the stock.
Lumen (LUMN) will try to continue its 14.23% rally from yesterday. The firm expects to report stabilized revenue by 2026. Management expects a positive inflection by 2027 or 2028. Currently, the company must realize $1 billion in synergies. The lower costs will improve its cash flow.
Lumen also has to negotiate favorable multi-billion dollar contracts related to building its fiber network. This will take three years to build out.
