Trending tickers: Uber, Tesla, Meta, SThree and Currys
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Uber (UBER)
Shares in ride-hailing company Uber fell nearly 6% in Wednesday's session, following an announcement from General Motors (GM) that it was pulling the plug on its robotaxi project Cruise.
GM said on Tuesday it would stop funding the development of the Cruise venture, saying it would "refocus autonomous driving development on personal vehicles".
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Instead, GM said it would look to combine the technical team at its majority-owned startup Cruise with GM workers "into a single effort to advance autonomous and assisted driving".
Back in August, Uber announced a partnership with Cruise with plans to deploy autonomous vehicles on its ride-hailing platform.
The companies had planned to launch the partnership next year.
Tesla (TSLA)
Shares in electric carmaker Tesla closed Wednesday's session at an all-time high, continuing its run higher since the since president-elect Donald Trump’s victory last month.
Tesla stock is up 69% since the election at the beginning of November, as CEO Elon Musk was a major supporter of Trump's election campaign. Musk has been appointed to co-lead the extra-governmental Department of Government Efficiency (DOGE).
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Tesla stock closed Wednesday's session at $424.77 (£333.28), and touched an intraday high of $424.88.
Meanwhile, data from Tesla China showed that the carmaker had sold 21,900 EVs in China in the first week of December, which was the highest weekly sales thus far in the fourth quarter.
In addition, investment bank Morgan Stanley (MS) raised its price target on Tesla to $400 from $310 and maintained an "overweight" rating on the stock, earlier this week.
Meta Platforms (META)
Social media giant Meta was also in focus on Thursday morning, after it was reported that the company had donated $1m to Trump's inaugural fund.
This comes after reports last week that suggested Meta CEO Mark Zuckerberg was looking to secure some influence in US president-elect Donald Trump's incoming administration.
The Financial Times (FT) reported that Sir Nick Clegg, Meta's president of global affairs, said in a press briefing that Zuckerberg was keen to play "an active role in the debates that any administration needs to have about maintaining America’s leadership in the technological sphere".
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Clegg's comments came on the back of a report that Meta published, looking into what the company saw on its platforms during elections around the world in 2024. He said in the report that Meta found that the impact of generative AI in these elections was "modest and limited in scope".