DIDI - Hot Stocks: Falling industrial metals; Chinese crackdowns; DLO BJ rise on earnings; OTRK loses a major client
China represented a crucial theme during Thursday's trading. Signs of a weakening steel market there put pressure on industrial metals prices, sparking a sell-off in stocks like Alcoa (NYSE:AA), Cleveland-Cliffs (NYSE:CLF) and U.S. Steel (NYSE:X). Meanwhile, the ongoing regulatory crackdowns in the country took another set of victims. Both Alibaba (NYSE:BABA) and DiDi (NYSE:DIDI) plunged to new lows on another round of government intervention. Ontrak (NASDAQ:OTRK) was another massive loser on the session. The stock became one of Thursday's standout decliners on the loss of a major client. On the other side of the spectrum, dLocal (NASDAQ:DLO) posted one of the day's biggest percentage gains. Strong quarterly results gave a boost to this recent fintech IPO. Better-than-expected earnings also lifted BJ's Wholesale (NYSE:BJ). The advance allowed shares of the retailer to score a new 52-week high. Sector In Focus Declines in industrial metals prices put pressure on shares of companies
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Hot Stocks: Falling industrial metals; Chinese crackdowns; DLO, BJ rise on earnings; OTRK loses a major client