Midday movers: Tesla, Coinbase, Fisker, and more

investing.com:

Investing.com – Main U.S. indexes declined on the final trading day of 2023, pulling back from recent highs. Megacap tech ended the year on a sour note but was among the best performing groups overall this year.

Here are some of the biggest U.S. stock movers today:

Fisker (NYSE:FSR) stock climbed 18% after it announced a plan to accelerate sales and deliveries. Fisker also revealed plans to expand the number of test-drive events held in both the U.S. and Europe.

Lyft (NASDAQ:LYFT) declined after Nomura/Instinet analysts downgraded the stock to 'reduce' from 'neutral' with a price target of $13, citing difficult fundamentals.

Uber (NYSE:UBER) declined after Nomura/Instinet analysts downgraded the stock to 'neutral' from 'buy' with a price target of $62, citing valuation and lack of catalysts.

Jabil (JBL) stock fell 1% after it lowered its forecast for the second quarter.

Coinbase (NASDAQ:COIN) shares gave up recent gains, declining 7% as the price of Bitcoin edged lower. Marathon Digital (NASDAQ:MARA) stock declined 12%, Microstrategy (NASDAQ:MSTR) declined 5.5% and Riot Platforms (NASDAQ:RIOT) declined 11%.

Tesla (NASDAQ:TSLA) stock declined 2.1%, falling for the second day in a row ahead of the release of production and delivery numbers next week. It was the worst performing Mag 7 stock, followed by Meta Platforms (NASDAQ:META), down 1.4%.

Upstart Holdings (NASDAQ:UPST) declined 9% as investors sold high volatility stocks given the risk-off mood.