Intel's stock rose over 9% yesterday and an additional 6.5% today, totaling a 25% increase for the week.
Roku's stock increased by about 20% at the close as it engages in discussions to sell itself to at least one U.S. media company.
The procure space ETF fell by 7% today, with Virgin Galactic down 32% and Momentus down 27%, indicating a broader decline in space-related stocks.
The downturn in space stocks highlights the speculative nature of the industry, as investors appear to be reallocating their focus towards SpaceX.
The software sector is facing its longest losing streak in nearly two decades, with the iShares expanded tech software ETF declining by approximately 0.2% today.
Adobe shares dropped by 6.8% following the announcement of its CFO's departure, overshadowing quarterly results and reaching their lowest price since 2018.
Our interpretation: The significant declines in space-related stocks, alongside the software sector's struggles, suggest a potential shift in investor sentiment towards more established companies like SpaceX, which may lead to increased volatility in these markets.