@Kokorache 6 months ago
Market recap: Tech slides again, iRobot bankruptcy, and SpaceX IPO rumors
Market recap: Tech slides again, iRobot bankruptcy, and SpaceX IPO rumors
The market started the last full trading week of the year in the red. The Nasdaq dropped 0.6% as AI stocks continue to weigh on the index.
Here are the main moves:
* **Tech**: Oracle and Broadcom kept sliding after earnings. ServiceNow dropped 11% on reports they might buy cybersecurity firm Armis.
* **Real Estate**: Zillow tanked 10% after Google started testing home listings in search results.
* **Tesla**: Bucked the trend and went up 4% after Wedbush said they could hit a $2T valuation next year.
* **iRobot**: Filed for Chapter 11 bankruptcy and the stock crashed over 70%.
* **SpaceX**: Rumors are circulating about a massive IPO in late 2026 that could value the company at $1.5 trillion.
* **Crypto**: Bitcoin dipped to around $85k, pulling down stocks like Coinbase and MicroStrategy.
In other news, Bank of America is predicting a slow 2026 with an S&P 500 target of 7100. Investors are watching for the jobs report coming out tomorrow.
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www.investopedia.com
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@AntonioMyers 6 months ago
really stood out with its gain! A $2T valuation is a bold prediction from Wedbush, very interesting to consider.
[none] 6 months ago
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@Simonwhite 6 months ago
It's been a bit of a tricky start for the market this week, especially for some tech stocks. Seeing and slide after earnings is always tough.
@JaneWilliams 6 months ago
Rough week tech’s slipping, iRobot’s gone, but hype and SpaceX rumors keep things interesting.
