Benzinga - Major Wall Street indices closed over 1.6% lower on Wednesday after Federal Reserve signaled it might soon pause future interest rate hikes but Chair Jerome Powell reasserted his commitment to bring inflation down to 2%. The Fed hiked the policy rates by an expected 25 basis points. Meanwhile, the following are the five stocks that are drawing investors' attention:
1. Tesla Inc (NASDAQ:TSLA): Shares of Tesla closed 3.25% lower on Wednesday, in line with the broader markets. However, the company's European sales grew faster than any other carmaker in February, per data from the European Automobile Manufacturers’ Association. In February, Tesla accounted for 2.4% of the new passenger car registrations in the European Union with 19,249 vehicles being registered.
Also Read: Everything You Need to Know About Tesla Stock
2. Coinbase Global Inc (NASDAQ:COIN): Shares of the company closed 8.16% lower on Wednesday and lost another 15.8% in extended trading. The company has received a Wells notice from the Securities and Exchange Commission over potential violations of U.S. securities law.
3. Chewy Inc (NYSE:CHWY): Shares of the company ended 5.32% lower and lost another 2.54% in extended trading despite posting better-than-expected earnings. The company's fourth-quarter revenue jumped 13.4% year-over-year to $2.71 billion, which beat an average market estimate of $2.64 billion, according to Benzinga Pro. However, the company's active customers came in at 20.4 million, down 1.2% from a year earlier, according to Yahoo Finance.
4. JATT Acquisition Corp (NASDAQ:ZURA): Shares of the company closed 314.36% higher on Wednesday. Zura Bio Ltd announced the closing of its business combination with JATT Acquisition Corp, a special-purpose acquisition company. Upon the completion of the business combination, JATT changed its name to Zura Bio Ltd. The ordinary shares and warrants of the combined company are expected to begin trading under the new ticker symbols, "ZURA" and "ZURAW," respectively, on the Nasdaq Capital Market.
5. Manchester United Plc (NYSE:MANU): Shares of the company closed 6.66% higher on Wednesday. Qatar’s Sheikh Jassim Bin Hamad Al Thani made a debt-free, world-record bid to purchase Manchester United, according to Sky Sports.
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