By Mackenzie Tatananni and Connor Smith

Stocks slipped on Friday as a Wall Street sold pretty much everything to close out the final Friday of 2024. The Nasdaq Composite struggled especially as market participants sold off Big Tech and chip stocks.

These stocks made moves:

Tesla fell 5%, extending losses from Thursday, when the auto maker fell 1.8%. Tesla has gained 74% this year. The electric-vehicle maker is set to release fourth-quarter deliveries next week. Wall Street expects Tesla to deliver around 510,00 vehicles, a record for any quarter but short of the company's 515,000 goal.

Super Micro Computer declined 5.2% after falling 1.7% on Thursday. The stock has been tumultuous this year, rising as high as $119 and dipping as low as $18. While shares of Super Micro were initially swept up in a wave of enthusiasm for artificial intelligence, delayed financial reports and the resignation of the company's previous accountant sent the stock price back down. The server maker has gained 13% since Jan. 1.

Nvidia dipped 2%. Shares of the chip manufacturer have gained 175% this year. While Nvidia is best known as a producer of graphics processing units, or GPUs, the company has also developed an AI geospatial model of Earth. Dion Harris, the company's director of accelerated data center solutions, told Barron's that organizations like the National Oceanic and Atmospheric Administration have already adopted Nvidia's Earth-2. Shares of Broadcom and Marvell Technology were also falling as semiconductor stocks slid on Friday.

Shares of Netflix declined 1.8%. The streaming service pulled off its coverage of two Christmas Day NFL games largely without a hitch, avoiding the lag and buffering issues that affected the Jake Paul-Mike Tyson boxing match in November. However, Netflix's success appears to have been priced into the stock. As the streamer continues to invest in live sports, some analysts have reiterated bullish views while others remain cautious. The stock has risen 86% this year.

Rumble, the livestreaming platform, fell 6.4% after jumping 28% on Thursday. The stock has gained 231% this year. Rumble said earlier this week that Tether, the issuer of a digital token of the same name, had agreed to invest $775 million investment in the company. The news came after Rumble's board approved the purchase of up to $20 million in Bitcoin in November.

Bitcoin itself was reversing earlier gains on Friday. Bitcoin has fallen 0.8% to $94,537 in the past 24 hours, on track for a second straight week of losses. The incoming Trump administration has made it clear it will take a lighter touch in regulating cryptos and has toyed with the idea of creating a national reserve of Bitcoin, fueling interest in the digital currency.

Ethereum and XRP have gained over the past 24 hours, while Solana has fallen 1.4%. Coinbase declined 3.2% on the back of Bitcoin's losses. Coinbase is the largest crypto trading platform in the U.S., with $185 billion in trading volume last quarter.

Shares of Amedisys, the hospice care provider, rose 4.7% after the company agreed to waive its right to terminate a merger agreement with UnitedHealth Group. Amedisys agreed to be acquired for $3.3 billion in 2023, but the Justice Department filed a civil antitrust lawsuit in an attempt to block the deal. TD Cowen analysts said Friday's announcement is a sign the companies "will find a resolution and complete the merger."

Rigetti Computing jumped 10.5% to $17.06 following a record close on Thursday. The stock has been soaring this month in response to a wave of enthusiasm about quantum computing.

Shares of Palantir Technologies and Vistra, two of the market's most high-profile winners, fell 3.7% and 3.1%, respectively.

Lamb Weston, formerly one of the biggest losers, rose 2.8%. The stock sank 23% last week after the supplier of french fries and other potato products posted an unexpected quarterly loss, slashed its financial guidance, and named a new CEO.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

December 27, 2024 16:20 ET (21:20 GMT)

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