Whoa, what a wild ride in the markets! It felt like a rollercoaster this week, with some stocks soaring and others taking a nosedive. Let me break down some of the biggest movers and shakers I’ve been tracking.
First off, the quantum computing sector took a hit. It seems like even Zuckerberg is cooling down on the hype, and that sent stocks like Rigetti Computing and D-Wave Quantum tumbling. Even the Defiance Quantum & AI ETF felt the pressure. It’s a reminder that even exciting emerging technologies can have their ups and downs.
Then there was the chip sector, reacting to the new export restrictions on AI chips. Nvidia, a big player in that space, saw a dip, and it pulled down other chip stocks with it. Micron Technology was particularly affected. It’s interesting to see how geopolitical decisions can ripple through the market like that.
Moderna really got hammered, losing over 20% after they lowered their sales projections for 2025. Cutting guidance by a billion dollars is never good news, and investors clearly weren’t happy.
Crypto stocks also had a rough time, mirroring Bitcoin’s slump below $90,000. Coinbase, Mara Holdings, and MicroStrategy all felt the pain. It just shows how closely these stocks are tied to the crypto market’s volatility.
Pinterest saw a 4% drop after Jefferies downgraded the stock. They cited “underwhelming” growth and lowered their revenue and profit forecasts. It seems like the market is becoming more discerning about growth potential.
Edison International had a really tough week, with shares dropping 13% amidst the wildfires in Los Angeles. The investigation into whether their infrastructure played a role in starting a fire definitely spooked investors.
On the brighter side, e.l.f. Beauty got a boost from Morgan Stanley upgrading the stock. They think the valuation looks more attractive after the pullback we saw in the latter half of 2024. Sometimes, a dip can create a buying opportunity.
Howard Hughes Holdings jumped 9% after Bill Ackman proposed a merger. It’s always interesting to see how merger news impacts stock prices.
Managed care stocks had a good run, thanks to the proposed increase in Medicare Advantage reimbursement rates. Humana, CVS Health, and UnitedHealth all saw nice gains. It looks like investors are betting on the positive impact of this policy change.
U.S. Steel also had a strong week after news broke about a potential joint takeover bid from Cleveland Cliffs and Nucor. It seems like the market loves a good takeover battle.
The megacap tech sector generally saw declines, likely due to rising Treasury yields. Nvidia, Apple, Meta, Microsoft, and Alphabet all experienced losses. It’s a reminder that macro factors can impact even the biggest companies.
Intra-Cellular Therapies absolutely skyrocketed after Johnson & Johnson announced they were acquiring the company. That’s a huge premium for shareholders, and it’s always exciting to see a big acquisition like this.
Finally, Abercrombie & Fitch and Macy’s both disappointed investors with their updated forecasts. Abercrombie & Fitch’s lowered holiday expectations and Macy’s weaker-than-expected sales figures sent their stocks tumbling. It seems like the retail sector is facing some headwinds.
Overall, it was a week of significant movement in the markets, driven by a mix of company-specific news, macroeconomic factors, and sector-specific trends. It definitely keeps things interesting!
