Stock Markets September 2, 2026 10:36 AM

Stocks Swing: Dell, Nvidia Advance While CrowdStrike and Several Small Caps Slip

Mega-cap tech leads gains as a mix of earnings and quarterly results drives volatility across market-cap tiers

By Ajmal Hussain
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DELL NVDA CRWD CRDO MDB

Equity markets on Wednesday experienced notable cross-cap volatility. Large technology names such as Dell and Nvidia moved higher, while cybersecurity firm CrowdStrike and a number of mid- and small-cap names retreated. The session produced a broad set of winners and losers spanning mega-caps to small-caps, driven by company-specific results and guidance-related reactions.

Stocks Swing: Dell, Nvidia Advance While CrowdStrike and Several Small Caps Slip
DELL NVDA CRWD CRDO MDB
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Key Points

  • Mega-cap tech names such as Dell and Nvidia led gains on the session.
  • Several large- and small-cap stocks recorded sharp declines tied to earnings or quarterly performance, including Credo Technology and FuelCell Energy.
  • Volatility affected multiple sectors, including technology, cybersecurity, mining, retail and energy.

Summary

Wednesday’s trading session produced a variety of price moves across market-cap segments. Mega-cap technology names posted gains, with Dell Inc and Nvidia Corp among the leaders, while CrowdStrike Holdings and several mid- and small-cap companies registered losses. Corporate results and quarterly performance details featured in some of the larger moves.


Mega-Cap Movers (Market Cap: $200 billion USD or higher)

  • Dell Inc (DELL) +4.17%
  • Nvidia Corp (NVDA) +2.57%
  • Crowdstrike Holdings Inc (CRWD) -3.39%

Among the largest-cap names, Dell and Nvidia led gains, while CrowdStrike traded lower.


Large-Cap Stock Movers (Market Cap: $10 - $200 billion USD)

  • Credo Technology Holding (CRDO) -16.27% - shares fell despite topping Q1 estimates
  • MongoDB (MDB) -11.83%
  • Reddit (RDDT) +6.68%
  • Hecla Mining Comp (HL) +6.62%
  • Flutter Entertainment PLC (FLUT) +4.33%
  • Diamond Eagle Acquisition Corp (DKNG) +4.16%

Large-cap moves were mixed, with Credo Technology posting a steep drop even though it beat Q1 estimates, while select leisure and mining names advanced.


Mid-Cap Stock Movers (Market Cap: $2 - $10 billion USD)

  • Wingstop Inc (WING) +7.87%
  • Kohls Corp (KSS) +8.16%
  • Telephone and Data Systems Inc (TDS) +7.61%

Mid-cap names included several retailers and service providers that posted notable gains on the session.


Small-Cap Stock Movers (Market Cap: $300 million - $2 billion USD)

  • B Riley Principal Merger Ii (EOSE) +14.14%
  • Titan Machinery I (TITN) +13.22%
  • Alumis (ALMS) +10.45%
  • FuelCell Energy (FCEL) -13.12% - plunged after reporting a wider Q3 loss than expected and a revenue miss
  • D Boral ARC Acquisition I (XLAB) -12.71%
  • Bleichroeder Acquisition II (PSQL) -9.9%
  • Advasa Holdings Inc (ADBT) -33.42%

Small-cap action was particularly volatile, with several double-digit moves on both sides of the market. FuelCell Energy’s decline was tied to wider-than-expected Q3 losses and a revenue shortfall, while other smaller companies posted sharp gains.


Implications and context

The session underlines how company-level results and specific performance metrics can drive outsized moves in both directions across market-cap categories. Mega-cap technology strength contrasted with weakness in some cybersecurity and small-cap names, producing a bifurcated market tone.


Key takeaways

  • Mega-cap tech led the upside, with Dell and Nvidia among the session leaders.
  • Several large- and small-cap stocks recorded sharp declines tied to earnings or quarterly performance.
  • Volatility spanned sectors including technology, cybersecurity, mining, retail and energy.

Risks and uncertainties

  • Stocks can move sharply even after companies top estimates - exemplified by Credo Technology’s decline despite beating Q1 expectations.
  • Wider-than-expected losses and revenue misses, as reported by FuelCell Energy, can produce steep downward pressure on small-cap names in the energy and clean-technology spaces.
  • Pronounced swings across market-cap tiers indicate ongoing short-term volatility that may affect trading and sector performance.

Risks

  • Stocks can drop sharply despite beating estimates - Credo Technology fell even after topping Q1 estimates (large-cap, technology sector).
  • Wider-than-expected losses and revenue misses can trigger steep selloffs in small-cap energy and clean-tech companies, as seen with FuelCell Energy (small-cap, energy sector).
  • Broad intraday volatility across market-cap tiers increases uncertainty for traders and sector performance.

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