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Credo Technology Surges on AI Cable Demand, but Customer Concentration Looms
Credo Technology shares jumped 9.8% to $265.55, topping the SOX rally, driven by strong AI cable demand. Yet, with the stock near analyst targets, risks from customer concentration loom.
MicroStrategy Sells $216M in Bitcoin to Cover Dividend Costs
MicroStrategy sold 3,588 bitcoin for $216 million, covering about 1.5 months of annual dividend and interest costs. MSTR shares traded near $100.77.
Robinhood Shares Surge on Strong June Trading Volumes
Robinhood (HOOD) shares climbed 4.3% on strong June trading data, with event contracts surging 60% month-over-month, ahead of its Q2 earnings report on July 29.
Lucid Surges 9.5% After Drawing $800M PIF Loan, Despite Delivery Miss
Lucid shares surged 9.5% after the EV maker drew $800 million from its PIF loan. The cash injection comes amid a Q2 delivery miss and a CFO transition.
Oregon Pizza Franchisee Files for Chapter 11 Amid Rising Debt
Rogue Fare LLC, running five Mountain Mike's Pizza shops in Oregon, filed for Chapter 11 bankruptcy on July 1, listing liabilities between $1M and $10M.
Reddit Shares Rally as Q2 Earnings Approach; Analyst Targets Signal Potential Upside
Reddit shares climbed 3% on Monday, outperforming the broader tech index, as FactSet's median target of $235 suggests a 17% upside from current levels.
Walmart Shares Dip on Price-Cut Pledge; Analyst Targets Signal 25% Upside
Walmart shares slipped 1.06% to $110.65 after a report that President Trump secured a pledge from the retailer to lower prices on many products, including a nearly 15% cut on ground beef.
ZIM Plunges as Hapag-Lloyd Deal Faces Israeli Regulatory Hurdles
ZIM shares dropped 7.31% to $23.70 as Israel's Defense Ministry opposed the Hapag-Lloyd takeover, widening the deal spread to 32.3% below the $35 offer.