Options Market Statistics: Walmart Stocks Jump, Options Pop as Q1 EPS and Revenue Beat

Faraday Future rose 134% on Thursday and is now up more than 4,000% for the week. A huge percentage of short interest on the stock is a major factor in the suddenbuying action. The electric vehicle had been trading for pennies before therecent rally, which prompted the company to receive a letter from Nasdaq indicating that it was not in compliance with listing rules. The market cap onFFlE is now back over $30M.

Alibaba had a rocky year in 2023, when it carried out its largest-ever corporate structure overhaul. It also separately implemented several high-profile management changes, with company veteran Eddie Wu taking over the reins as chief executive in September.

In a bid to signal confidence to shareholders, the Chinese tech giant said earlier this year that it increased its share buyback program by $25 billion through the end of March 2027.

Alibaba has been grappling with cautious consumer spending in China, but saw signs of a slight recovery in its core e-commerce business in the March quarter.

Shares of retail behemoth Walmart jumped 7% after the company reported first-quarter earnings that constituted a 'beat and raise'. Specifically, Walmart exceeded analysts' revenue, gross margin, and EPS expectations. That performance was driven by beats in its U.S. and International Walmart operations. The company also effectively raised its full year guidance by saying that it expects calendar 2024 results to come in at the high end of previously-provided guidance for revenue and EPS, which is a positive. The company also bought TV maker Vizio for just over $2 billion in February 2024 to support Walmart Connect, its media business, although this is having a negligible impact on reported financials.