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CNBC Daily Open: Tech Sells off but AI Isn't Going Anywhere for Now
Jefferies Maintains Palantir(PLTR.US) With Sell Rating, Maintains Target Price $28
Palantir Options Spot-On: On January 13th, 539.73K Contracts Were Traded, With 3.72 Million Open Interest
Wall Street Today: Market Turns Around, Let's See if it Lasts
"No one survives"! Popular Technology stocks fell across the board, with MSTR down over 7%, Palantir down nearly 6%, and NVIDIA down almost 5%.
Last Friday, the chip stocks that led the decline in the US stock market continued to fall, with Micron Technology dropping over 6% at one point; AppLovin, which had the highest increase in the Nasdaq last year, fell over 3% intraday; Algo "meme stocks" collectively experienced double-digit declines, with D-Wave Quantum falling over 30% intraday. Following last Friday's employment report that dampened rate cut expectations, the US stock market faced additional Bearish news: the Biden administration announced AI-related export controls; NVIDIA's new generation Datacenter chip was reported to have received order cancellations from customers due to malfunction.
Equities Mixed Intraday as Markets Await Bank Earnings, Inflation Data
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