Top 20 US stock trading volumes on March 28: Meta faces legal setbacks in a row, down 11% this week

Nvidia takes the No. 1 spot in Friday’s U.S. stock trading by volume, falling 2.21% with $32.75 billion in turnover. The stock is down about 3% for the week so far.

According to reports from Ben Dao, the U.S. federal court has approved a class action lawsuit against Nvidia and its CEO Jensen Huang, allowing hundreds of thousands of investors to pursue securities fraud claims over what it alleges was their alleged concealment of more than $1 billion in crypto-currency mining–related GPU revenue.

On March 25, 2026, Judge Haywood S. Gilliam Jr. of the U.S. District Court for the Northern District of California issued an order for class certification. The ruling covers investors who bought Nvidia common stock between August 10, 2017 and November 15, 2018.

Nvidia previously paid a $5.5 million fine to the U.S. Securities and Exchange Commission in 2022 for failing to disclose during the 2017–2018 crypto-currency boom that its GPU revenue’s key driving force was not just gaming demand, but also crypto-currency mining. This nondisclosure is the core of the current class action lawsuit filed by shareholders.

This class certification is the latest development in the legal sequence of events. Earlier, the case went through an appeal at the U.S. Court of Appeals for the Ninth Circuit and, in December 2024, the U.S. Supreme Court rejected Nvidia’s request to dismiss the case. This marks a key procedural milestone, turning individual investors’ claims into a unified class action lawsuit, with potential damages amounting to as much as billions of dollars.

Tesla ranks No. 2, falling 2.76% with $22.356 billion in turnover. A court in Amsterdam issued an injunction on Thursday prohibiting Elon Musk’s AI chatbot Grok from generating AI-synthesized nude images of humans and content involving child sexual abuse. If xAI, the company that owns Grok, does not comply with the order, it will face fines of about $115,000 per day.

The company has also been sued in Baltimore, and it is currently being investigated by the European Commission and the U.K.’s cybersecurity regulators, with legal pressure continuing to mount.

Micron ranks No. 3, rising 0.5% with $16.246 billion in turnover. The stock is down more than 15.5% for the week so far. A new technology from Google’s TurboQuant is weighing broadly on storage technology shares.

According to reports, Google’s research division has released new AI software technology called TurboQuant that can significantly reduce the memory requirements of large language models. The news triggered a sharp selloff in data storage stocks, prompting investors to reassess their expectations for hardware demand in light of more efficient software.

Google’s new TurboQuant technology is expected to cut AI memory usage by at least 6x, posing a threat to demand for physical storage hardware.

Meta Platforms ranks No. 4, falling 3.99% with $15.703 billion in turnover. Meta Platforms’ share price fell nearly 4% on Friday, extending the drop of nearly 8% on the prior trading day. The stock is down 11.4% for the week so far.

This round of declines comes as the company faces unfavorable rulings in two separate legal cases. A jury in New Mexico ordered Meta to pay $375 million, finding that its app failed to protect children from sexual exploitation. A jury in Los Angeles found the company responsible for a young woman’s social media addiction and ordered it to pay about $4.2 million.

Analysts said the settlement costs for addiction claims could reach billions of dollars. Meta said it disagrees with the ruling and is exploring its legal options.

Investors are also weighing the company’s aggressive spending on AI data centers. This year’s planned capital expenditures could be as high as $135 billion. Before that, the Reality Labs segment has lost more than $80 billion over the past five years. Meta has been laying off employees across the company, and it recently also disclosed a stock option plan tied to the company’s stock price increase over a five-year period exceeding 500%.

Amazon ranks No. 6, falling 3.95% with $11.151 billion in turnover. Amazon’s AI chip team has just lost another key member. Reports say a senior executive related to the Trainium processor has left, causing the list of departures from the unit to keep growing.

Gadi Hart previously led product and customer engineering at Annapurna Labs and played a significant role in shaping Amazon’s in-house AI chips. The team has been a core force behind Amazon’s push for in-house chips and reducing reliance on external suppliers. In 2015, Amazon acquired Annapurna Labs for $350 million, and since then the team has become a key pillar of its AI infrastructure strategy.

Notably, its patterned departures. Hart is the second executive to leave within seven months; previously, Rami Sinnow jumped to Arm in August of last year. Besides the chip team, changes in leadership have also occurred in Amazon’s AI business, including the departure of Rohit Prasad, head of general artificial intelligence, at the end of 2025. All of this is happening as competition for AI talent across the industry grows increasingly intense.

Broadcom ranks No. 9, falling 2.82% with $7.078 billion in turnover. Reports say a Broadcom executive said that the capacity of its manufacturing partner TSMC is nearing its limit, and that as demand for AI chips surges, the entire industry is facing broader supply-chain constraints. “We see that TSMC’s capacity has reached its limit,” Broadcom’s product marketing director for the physical layer products, Natarajan Ramachandran, told reporters. “They will increase capacity before 2027, but that has become a bottleneck—or, in 2026, has already been hindering the supply chain,” he added.

Exxon Mobil ranks No. 12, rising 3.36% with $5.138 billion in turnover. Driven by a sharp jump in oil prices, the stock is up more than 7% for the week so far.

Halliburton, working with Exxon Mobil, Sekal, Noble, and the Wells Alliance Guyana team, has made a breakthrough in the field of digitized drilling construction. In offshore Guyana, it delivered what is reportedly the industry’s first fully automated geosteering and completion-while-drilling operation, and also completed fully automated rig operations.

The project combines rig automation, subsurface interpretation and completion automation, and real-time hydraulic technology to set a new benchmark for drilling construction performance, reservoir contact effectiveness, and execution efficiency.

Lumentum ranks No. 17, rising 2.02% with $3.605 billion in turnover. On Friday, U.S. stocks in optical communications and storage-related sectors rose against the trend.

Visacom ranks No. 19, falling 3.28% with $2.951 billion in turnover. U.S. Federal Trade Commission (FTC) Chair Andrew Ferguson sent a letter to payment companies including Viasat (Visacom) and Mastercard, warning them not to refuse services due to customers’ political or religious stances.

Ferguson said there have been reports that some customers have been “de-banked” due to party affiliation and other factors, emphasizing that doing so violates American values and may also affect lawful business and livelihoods. Earlier, the Trump administration sued JPMorgan Chase and its CEO Jamie Dimon, alleging that the bank ended its business dealings with Trump for political reasons; Capital One Financial was also targeted by lawsuits filed by companies affiliated with Trump for discrimination. The relevant banks denied the allegations.

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