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Crypto Sell-Off Deepens as AI Stocks Lure Investors; Gold Miner i-80 Reports Progress
Cryptocurrencies dropped nearly 9% as AI stocks gained favor. i-80 Gold released drill results, NSE plans a major IPO, Vizsla Silver advances its mine strategy, and US-Iran tensions keep oil steady.
Tech Selloff Deepens as Chip Index Plunges 5.3%; Jobs Data in Focus
The PHLX chip index fell 5.3% Friday and 7.9% for the week, overshadowing broader market gains. Tech funds lost nearly $20 billion as rising memory costs hit Apple and others. June payrolls data is due Thursday.
Joby Aviation Stock Slides on Russell Rebalance Volume Surge
Joby Aviation stock dropped 0.45% to $8.83 as nearly 40% of the public float changed hands over five sessions into the Russell index rebalance, with volume surging 184% above average.
FuboTV Rockets 22.5% as Short Squeeze Fears Grips Traders
FuboTV (FUBO) surged 22.5% Friday on double average volume, with short interest at 24.8% of float, intensifying short squeeze pressure despite stock being 82.5% below its 52-week high.
Volato Shares Surge After Catheter Precision Reveals 7.5% Stake in Filing
Volato Group shares surged 40.74% after hours following a 13G filing revealing Catheter Precision now owns a 7.5% stake, acquired through a recent $2.21 million private placement.
Coeur Mining's Index Debut Sees Heavy Volume, Stock Underperforms
Coeur Mining closed at $16.02 after joining the S&P MidCap 400, with volume surging 590% above average and the stock falling 8.3% in its first week.
Opendoor Trading Volume Surges Past Short Interest Following Russell 3000 Addition
Opendoor Technologies' trading volume surpassed short interest after its Russell 3000 addition, with $749 million in shares traded amid index rebalancing. Shares rose 1.6% to $4.37.
Snowflake Jumps 9.7% on Strong AI Demand, AWS Deal
Snowflake (SNOW) shares surged 9.7% to $248.96 on Friday, adding $7.6B in market value, after the company reported strong quarterly earnings and raised its full-year outlook.
Credo Technology Stock Plunges 21% from Peak on Record Volume
Credo Technology shares plummeted 11.2% to $238 on Friday, erasing $12 billion in equity value and marking a 21.3% decline from Monday's record close, amid heavy volume and sector-wide chip stock weakness.
Keel Infrastructure Soars on Russell Inclusion; Short Interest High
Keel Infrastructure surged 2.7% on massive volume after joining the Russell 3000, with trading exceeding short interest, despite a 23% Q1 revenue drop and 'highly speculative' warning.
SpaceX Slumps After Russell Inclusion, Growth Funds Bear $73B Exposure
SpaceX shares dropped 32% from their peak after joining the Russell indexes, with growth funds shouldering $73.1 billion of the $80.9 billion notional. Passive trackers must buy over $4 billion, while S&P 500 inclusion remains off the table.