Market Insider

Stocks making the biggest moves midday: Tesla, Western Digital, Enphase Energy and more

Former Nasdaq CEO on what tech valuations may look like in 2021
Former Nasdaq CEO on what tech valuations may look like in 2021

Here are the stocks making notable moves in midday trading.

Tesla – The automaker rose 1.6% to a new all-time high. The move caps a record year for Tesla, which saw the company report five straight quarters of profit extending back to 2019. The electric automaker was also added to the S&P 500. Shares are up more than 750% for the year.

Enphase Energy  – Shares gained 1.5% slightly after S&P Dow Jones Indices said the Australia-based energy technology company will replace Tiffany in the S&P 500 benchmark as of Jan. 7. Tiffany is being acquired by LVMH.  Enphase Energy's stock has soared more than 560% this year amid heightened interest in solar energy.

Western Digital – The stock jumped more than 11% as investors piled into the chipmaker into the end of the year. Western Digital has gained more than 21% this month alone, cutting its 2020 losses to about 13%.

Tribune Publishing Company — Shares of the Chicago Tribune and New York Daily News owner jumped more than 7% after a securities filing showed that Alden Global Capital made a non-binding offer to buy the company. Alden is already a major shareholder in Tribune, owning roughly 32% of the company's outstanding stock. The Wall Street Journal first reported the news.

Celsius Holdings — Shares of the beverage company soared more than 13% after S&P Dow Jones Indices announced that the stock would join the S&P SmallCap 600. The change will be effective Jan. 7.

— CNBC's Pippa Stevens and Yun Li contributed to this story.