Midday movers: Tesla, Coinbase, and more

(Updated – December 27, 2023 12:00 PM EST)

Investing.com — Main U.S. indexes were largely unchanged Wednesday, stabilizing after recent gains during the last trading week of what has been a positive year.

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

Tesla (NASDAQ:) stock rose 2.2% with Bloomberg reporting that the electric car maker is preparing to launch a revamped version of its Model Y from its Shanghai plant.

Intel (NASDAQ:) stock rose 0.4% after Israel’s government agreed to give the tech giant a $3.2 billion grant for a new $25 billion chip plant it plans to build in southern Israel, in what would be the largest investment ever by a company in Israel.

Apple (NASDAQ:) stock fell 0.5% after Bloomberg reported that executive Tang Tan, who led design for the iPhone and Apple Watch, is set to join LoveFrom, a new artificial intelligence hardware project.

Coherus BioSciences (CHRS) stock soared over 20% after the U.S. FDA approved a new delivery service for its post-chemotherapy treatment.

Toyota (NYSE:) ADRs rose 0.4% after data showed the world’s largest auto maker’s global production jumped 11% in November to a record level, bouncing back from last year’s supply chain disruptions.

Coinbase (NASDAQ:) stock rose 6.7% with the cryptocurrency exchange benefiting from the bounce in bitcoin, the most widely used digital currency. Marathon Digital (Nasdaq: NASDAQ:) and MicroStrategy (Nasdaq: MSTR) also gained.

Bit Digital (BTBT) stock rose 15% as the U.S.-based bitcoin miner plans to double its mining operating fleet to about 6.0 ether per second in 2024.

Cytokinetics (NASDAQ:) stock rose 70% after it reported positive results from its phase 3 study of aficamten in patients with symptomatic obstructive hypertrophic cardiomyopathy.

Iovance Biotherapeutics (NASDAQ:) stock fell 23% after announcing that the FDA placed a clinical hold on the IOV-LUN-202 trial in response to a recently reported Grade 5 (fatal) serious adverse event.

Additional reporting by Louis Juricic