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Wall Street Selloff Halts S&P 500's Nine-Week Rally; AI Stocks Tumble, SpaceX IPO Looms
The S&P 500 snapped its nine-week winning streak Friday as tech stocks plunged 5.8%, wiping out $1.3 trillion in chipmaker value. Markets now eye May inflation data and SpaceX's IPO.
Archer Aviation Plunges 13% as Rate Worries Weigh on Pre-Revenue Stocks
Archer Aviation fell 13.2% on Friday as a strong jobs report fueled rate hike fears, hitting pre-revenue stocks. The company faces key tests with inflation data and FAA certification.
Warner Bros. Discovery Shares Slip on Antitrust Threat to Paramount Deal
Warner Bros. Discovery shares fell 2.81% to $26.24 on reports that states are preparing an antitrust lawsuit to block Paramount's $110 billion takeover, widening the deal spread.
Apple's WWDC AI Test: Siri Upgrade Could Spark Stock Move
Apple shares slipped 1.5% last week as investors await WWDC, where a credible AI strategy—especially a more capable Siri—could trigger a 3% stock swing.
Redwire Stock Tumbles 25% as Space Sector Selloff Overpowers Strawberry Contract Win
Redwire Corp (RDW) shares plunged 25% this week to $18.45 after Jefferies downgraded the stock to Hold, citing limited near-term upside. A space-agriculture contract win failed to offset a broad selloff in speculative space stocks.
Ondas Shares Slide 13% on Dilution Fears Despite Navy Deal and $110M in Orders
Ondas shares dropped 12.9% Friday after a Navy balloon contract and strong orders were offset by dilution fears from a share resale filing and ongoing losses.
IREN Stock Drops 12% Despite $3.65B GPU Financing and Australia Expansion
IREN shares plunged 12.14% to $54.35 Friday as investors assessed a $3.65B GPU financing deal and new Australia data center project against ongoing crypto volatility and execution risks.
Tesla Slumps Despite JPMorgan Upgrade as Tech Selloff Weighs
Tesla fell 6.56% to $391.00 Friday, as a tech selloff and rate fears offset JPMorgan's upgrade to neutral and $475 target. The stock faces headwinds from macro pressures and SpaceX IPO distraction.
BB Stock Slides 9% in Tech Rout, Rally's Staying Power Tested
BlackBerry shares dropped 9% Friday in a tech selloff, though the stock still rose 4.6% for the week. Focus shifts to QNX growth and upcoming earnings on June 25.
SoFi Shares Slide 12% as Rate Fears Overshadow New Product Launches
SoFi stock dropped 12% to $16.03 as a hot jobs report reignited rate worries, eclipsing the AI Coach launch and stablecoin push. Focus now shifts to Wednesday's CPI data and the June 17 annual meeting.