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Four stocks moving on Wall Street: Socket Mobile, Verizon, Bank of America, NVIDIA


It could be an interesting morning on Wall Street following some phenomenal gains from Socket Mobile and rumbling in the telecoms and banking stocks.

Socket Mobile (SCKT)

Everybody wanted a piece of Socket Mobile Inc. (NASDAQ:SCKT) yesterday, a little known US mobile data capture company, after the company launched its new product DuraSled, an enterprise-grade scanner that can be used on the iPhone 12. To say that shares were in demand would be an understatement, volumes rocketed to 75 million shares in a day compared with the previous daily volumes which used to be in the range of 250,000. Shares rallied close to 540% and today is likely to see some follow up on the action. DuraSled is mainly aimed at companies that use iPhone applications in their business and allows workers to use their own devices for work.

Verizon (VZ)

US telecoms giant Verizon Communications Inc. (NYSE:VZ) is attracting a lot of attention in the pre-market after Warren Buffett’s Berkshire Hathaway revealed late yesterday that it is holding a multibillion dollar stake in the company. Buffett’s investment firm first bought 58m shares in the third quarter of 2020 and then followed up with another 88m shares in the last quarter of the year. The firm now owns an $8.6bn stake in the telecoms company. Verizon shares have been steadily declining over the last month but Buffett’s comments have triggered a 4% pick up in prices in the premarket.

Bank of America (BAC)

The interest in shares of US investment bank Bank of America Inc. (NYSE:BAC) is picking up in the pre-market after the company closed higher twice this week and ended up trading $0.8 shy of its 12 month high of $35.08. A fresh pledge from US President Joe Biden that a new $1.9tn Covid relief plan would create 7 million jobs in the US helped the bank move higher. However, there was no fresh news related to the bank itself and without that stocks started correcting lower ahead of the coming session. Down 0.5% in the pre-market.


Computer graphics processors and chipsets maker Nvidia Corp. (NASDAQ:NVDA) has been in the spotlight recently after Google, Microsoft and Qualcomm asked antitrust regulators to intervene in the company’s acquisition of UK semiconductor firm Arm. The tech giants lodged their complaints with regulators in the US, UK, European Union and even China because Arm provides semiconductors and chips to Apple, Amazon, Samsung, Huawei and Intel, and Microsoft and Google now worry that if Nvidia manages to acquire Arm it would be in the position to limit supply to rivals or increase prices. One interesting aside is that NVIDIA’s graphics cards are also being used in crypto mining farms. The share price is nudging slightly lower in the pre-market after a 2.47% increase yesterday.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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