5 Best Stocks in the Nasdaq on Wednesday: Baidu Rises

The best-performing stocks in the Nasdaq on Wednesday included Baidu, Pinduoduo, and Applied Materials, among others.
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Stocks were higher Wednesday amid a stalled push to increase stimulus payments for most Americans to $2,000 and the U.K.'s approval of a second coronavirus vaccine.

The Dow Jones Industrial Average gained 155 points, or 0.51%, to 30,491, while the S&P 500 was up 0.31% and the Nasdaq rose 0.32%.

Here are the best stocks in the Nasdaq on Wednesday by their performance in percentage change at the close of trading on Dec. 30.

1. Baidu | Increased +12.59%

This month, shares of Chinese search-engine giant Baidu  jumped nearly 10% after reports that it is pondering making its own electric vehicles. Citing people with knowledge of the matter, Reuters reported that Beijing-based Baidu was considering contract manufacturing or setting up a majority-owned venture with automakers to produce electric cars.

2. Pinduoduo | Increased +7.77%

Shares of Pinduoduo  (PDD) - Get Report, a Chinese e-commerce holding company, surged Tuesday, adding almost 16% to close at $166.19. China stocks as a group rose sharply as Alibaba Group  (BABA) - Get Report said progress is being made on changing the operations of Ant Group after China's central bank over the weekend demanded a management shakeup.

3. Tesla | Increased +4.32%

Tesla  (TSLA) - Get Report shares rose in premarket trading Wednesday following analysts’ optimistic fourth-quarter delivery estimates for the electric vehicle company. Two analysts said Tesla should reach its goal of 500,000 deliveries for 2020. “With 180k for 4Q the line in the sand, we believe given the underlying strength we are picking up in China as well as a late push in Europe and the U.S., that 190k-200k is well within reach,” Wedbush analyst Daniel Ives wrote in a commentary.

4. Trip.com Group | Increased +3.81%

Trip.com Group reported its third-quarter 2020 earnings earlier this month, posting a net income of $234 million compared to a net income of $121 million posted in the same period in 2019.

5. Applied Materials | Increased +3.22%

This month, Applied Materials  (AMAT) - Get Report said that Rani Borkar will join its board of directors. bringing decades of expertise in semiconductor design and computing systems development to the company. Borkar will serve on the board’s strategy and investment committee.

All stock prices and activity referenced are pulled from Barchart.com.