Here’s a look at the companies making headlines in midday trading: KULR Technology Group – The space technology company’s shares surged more than 26% after buying 217.18 Bitcoin worth approximately $21 million. The purchase of the cryptocurrency is the company’s first since announcing plans for a new Bitcoin vault on December 4, the day Bitcoin hit the $100,000 level for the first time. KULR plans to allocate 90% of its remaining cash to Bitcoin, borrowing a strategy from MicroStrategy. Honda – U.S.-listed shares rose 4%, continuing gains after the automaker announced formal merger talks with Japanese automaker Nissan earlier this week. The gain brings the week-to-date gain to more than 18%. Toyota Motor – Shares of Toyota Motor rose more than 8% after Nikkei reported that the automaker plans to double its return on equity (ROE) target to 20%, citing an unnamed executive. Alibaba — Shares of the e-commerce giant rose about 1% after announcing a joint venture with South Korean retailer Shinsegae. Alibaba’s stock price still fell more than 1% in December. GameStop — Shares of the video game retailer rose about 4%, extending Tuesday’s gains. GameStop has risen for four consecutive days, rising nearly 85% this year. Crypto Stocks – Stocks that have correlated with Bitcoin prices pared early losses but remain under pressure from the cryptocurrency. Bitcoin is currently hovering at $96,000, about 11% below its all-time record. Coinbase shares fell nearly 2%, and MicroStrategy shares fell about 3%. Mining companies Mara Holdings and Iren both fell more than 2%. Broadcom — Broadcom shares are up nearly 3%, building on strong gains year to date and in December. The stock is up about 51% this month and hitting new highs. Shares are up 119% in 2024. Registration for the second batch is currently in progress. Kewaunee Scientific — Shares of the healthcare products maker rose 3% after Chief Financial Officer Donald Gardner disclosed the sale of 2,000 shares of common stock. After the sale, Gardner beneficially owns 22,600 shares. —CNBC’s Pia Singh, Tanaya Macheel, Jesse Pound, Sean Conlon and Samantha Subin contributed reporting.
