Novavax, Nvidia, MercadoLibre, Nu Holdings, and PTC Lead Stock Market Moves
Major U.S. stock indices closed higher on Monday, with the Dow Jones, S&P 500, and Nasdaq all posting gains. Among individual stocks, several stood out due to significant price movements and investor interest.
Novavax led biotech names with a 20.08% surge, closing at $12.56. The stock reached a 52-week high of $13.38, fueled by concerns over a suspected plague death in Russia, which sparked interest in heavily shorted biotech stocks.
Nvidia rose 2.12% to $238.90, hitting a record high of $240.10. Strategist Jay Woods noted the stock was nearing a technical breakout, with a potential target of $270. The move came ahead of Nvidia's third-quarter earnings report, expected in mid-November.
MercadoLibre and Nu Holdings both surged following Brazil's presidential election. MercadoLibre climbed 9.67% to $1,860.61, while Nu Holdings advanced 13.03% to $15.18, as investors reacted to favorable market sentiment toward Flávio Bolsonaro's performance.
PTC Inc. jumped 33.49% to $192.26 after Schneider Electric announced a $22.6 billion acquisition agreement, marking a significant move in the industrial-software sector.