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The market split Monday as technology sold off into Nvidia’s earnings while defensive stocks quietly kept the broader session from cracking. | |
The chip trade carried two separate warnings. Nvidia’s seven-day slide showed how high Wednesday’s bar has become, while reports that Apple could source Chinese memory punished SanDisk, Micron, and Western Digital before Jensen Huang said a word. Oil’s drop delivered the macro version of the same skepticism: investors heard Bessent’s “economic D-Day” and noticed that the sanctions hammer still has no swing date. | |
Stocks concentrated on the fault lines. $GRRR stayed extremely bullish despite its after-hours drop, $RUM bulls debated a $13.7 billion contract against its financing bill, and the $NVDA room turned bearish before the week’s biggest report. | |
Today's Briefing: Powered by Stocktwits Community API. | |
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AFTER THE BELL | |
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Regenxbio, a gene-therapy developer for severe genetic diseases, said Monday the FDA placed RGX-121 on clinical hold after spine scans found small nodules or cystic masses in five boys treated three to six years earlier. Investigators called the asymptomatic findings nonserious and likely benign, with no evidence confirming their cause, but the company shelved its near-term resubmission. | |
The RIP: $RGNX fell 24.9% to $8.05 on 5.4M shares, 5.7x recent pace. Shares traded from $7.77 to $8.64, finished 28.9% lower over five sessions, and left Regenxbio with a $0.5B market cap. | |
The FDA had recently cleared a path for an RGX-121 resubmission this quarter, and that timeline is now gone. Regenxbio still plans to submit its RGX-202 Duchenne application this quarter and report pivotal wet AMD data in Q4. Bulls spent Monday trying to ring-fence the damage to Hunter syndrome; the measurable test is whether regulators leave those programs untouched. Stocks jumped on the story, came in mostly bullish, nearly extremely so, sending the stock to the top ten highest trending alongside huge mega caps. | |
The Community Read: The $RGNX room stayed bullish through the hold, see the pipeline defense -> |
STOCKS | |
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Nvidia’s seven-session slide turned Monday’s semiconductor selloff into a dress rehearsal for Wednesday’s earnings. SanDisk, Micron, and Western Digital fell harder as an Apple sourcing report added China fear to the memory trade. Outside of that, it feels like a big inhalation before the results drop Wednesday. | |
The RIP: $NVDA fell 2.9%, while $SNDK dropped 6.5%, $MU 5.8%, and $WDC 5.2%. Wall Street expects Nvidia to report $92.1B in revenue and $2.09 adjusted EPS Wednesday, up 97% and 99%year over year. | |
Bank of America’s Vivek Arya expects $94B-$95B in revenue, above Nvidia’s $91B guidance, with memory inflation shaving only about 60 basis points from Rubin rack margins. Susquehanna’s Christopher Rolland is watching the GB300 ramp, Rubin timing, and whether gross margins stay in the mid-70s. Citi says Nvidia secured high-bandwidth memory through 2027, but trimmed its Rubin forecast because supply remains tight. | |
Nvidia holders need a strong third-quarter guide, margins near 75%, and clean Rubin timing to turn Monday’s flinch into an all-clear. The bearish room is leaning on a very retail argument: because Nvidia usually rallies into earnings and fades after, seven down sessions must mean the script flips this time. | |
The Community Read: The $NVDA room turned bearish before earnings, see the rebound case -> |
MACRO NEWS |
Treasury Secretary Scott Bessent unveiled Operation Economic Outcast Monday, after last week the President threatened an economic D-Day was on the way for the Iranian regime. |
But the promised bombshell arrived as warning letters and compliance deadlines, that nations who trade with Iran should stop or prepare to face consequences. Oil priced in the difference, dropping more than 2% because Washington has not named or punished Iran’s biggest trading partners yet. |
“Why would I want to blow up the global financial system?” Treasury Secretary Scott Bessent said Monday when asked why sanctions were not immediate. |
The RIP: Brent settled at $92.17, down $2.22, or 2.35%. WTI closed at $85.01, down $2.05, or 2.35%. Both gained more than 5% last week. Fewer than 20commodity vessels crossed Hormuz over the weekend. The move arrives about six months into an immensely unpopular war, and the White House is clearly looking for a way out that does not involve invading more countries in the middle East, or running away. |
“There is not much new that came out of Bessent’s commentary, beyond what was telegraphed in advance,” Raymond James analyst Pavel Molchanov said. |
Bessent is delaying the hammer because secondary sanctions work by threatening access to dollars, not by surprising every bank and government at once. An immediate cutoff Irans largest partners China, Turkey, or the UAE could disrupt global trade, and spike crude. |
The news also follows a breakdown in Canada / U.S. tariff talks over the weekend. What looked like a deal to lower auto tariffs turned instead into a 50% immediate rise in U.S. border tariffs, and threats for more if Canada doesn’t make amends with whatever Trump is angry about this week. Ten weeks ‘till midterms poeple. |
POPS & DROPS | |
$GRRR -8% | Gorilla Technology: The raised guide did not stop the drop | |
25.4K WATCHERS · 90% BULLISH · EXTREMELY HIGH ACTIVITY | |
Gorilla Technology reported first-half revenue of $78.4M, up 99%, and raised its 2026 outlook to at least $200M, but shares fell 8.2% after hours as IFRS losses widened. The bullish room is deciding whether contract growth can outrun stock compensation, financing needs, and the gap between announced projects and cash profit. | |
$RUM +3% | RUM Group: The contract came with a 1-cent catch | |
34.8K WATCHERS · 78% BULLISH · HIGH ACTIVITY | |
RUM Group signed a six-year, $13.7B GPU-services contract with an unnamed U.S. cloud customer, then disclosed that it still needs financing and granted the customer warrants for roughly 51M shares at $0.01. The bullish room is arguing over whether the contract value or the funding bill deserves top billing. | |
$ABUS -1% | Arbutus: Bulls rejected the buyback price | |
16.8K WATCHERS · 80% BULLISH · EXTREMELY HIGH ACTIVITY | |
Arbutus began a $230M Dutch-auction tender Monday at $5 to $5.75 per share, using cash from its Moderna settlement to repurchase stock. Shares slipped 0.6%, while the bullish room pushed back on the offered range and debated whether the buyback meaningfully tightens supply or simply sets a ceiling. | |
$TSLA -4% | Tesla: The pullback could not break the robotaxi faith | |
1.1M WATCHERS · 59% BULLISH · LOW ACTIVITY | |
Tesla fell 4.1% as it stopped selling its decade-old premium solar roof tiles and traders kept weighing the approaching Cybercab launch against China recall concerns. The bullish room treated the decline as another robotaxi shakeout, leaving the bigger question unresolved: how many abandoned products can the autonomy story absorb? | |
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WHAT’S ON DECK |
Macro: S&P Cotality Case-Shiller Home Price Index (9:00 AM ET), New home sales (10:00 AM ET), The Conference Board's Consumer Confidence Index (10:00 AM ET). |