SpaceX Just Led a Global Tech Wipeout, and a Saxo Strategist Blames Leverage and Passive Flows

247wallst.com Jun 25, 2026

SpaceX Just Led a Global Tech Wipeout, and a Saxo Strategist Blames Leverage and Passive Flows

Curated by Shubham · TechCapsules · Jun 25, 2026

AI-summarised brief · reviewed before publication

SpaceX's stock price fell roughly 16% over three consecutive sessions after announcing plans to sell investment-grade bonds, just weeks after raising equity. The company's $1.23 trillion market cap and recent IPO made the move surprising, with Saxo Bank's Neil Wilson attributing the selloff to index plumbing and passive funds' positioning. Wilson noted that passive vehicles struggle to absorb multiple capital market trips in close succession, especially for a company like SpaceX with an equity story built on scarcity. The stock's price action confirms this, with a 19.69% drop over the week ending June 22, before partially recovering. Leveraged ETFs and short-dated options amplified the volatility, with investors making short-term bets on the stock's movement.

💡 Why It Matters

· The selloff exposes the vulnerability of mega-cap tech stocks to sudden changes in investor sentiment, particularly when fueled by leveraged trading and passive flows.
· SpaceX's bond announcement triggered a chain reaction that spilled over into global markets, highlighting the interconnectedness of the tech sector.

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Cerebras stock plunges after earnings as CEO says margin outlook was misunderstood

Cerebras Systems' stock plummeted by almost 20% on Wednesday, despite delivering better-than-expected first-quarter earnings. The decline was attributed to the company's forecast of a narrower gross margin in its core business, with a full-year margin of 38% to 41%. In its first earnings report since going public, Cerebras reported revenue of $193 million, a 94% year-over-year increase, and a narrowed net loss of $14 million. The company attributed the margin decrease to renting back equipment from a large customer to increase capacity.

💡 The stock drop highlights the importance of clear communication in investor relations, as Cerebras CEO Andrew Feldman's explanation of the margin guidance may have come too late to salvage investor expectations. The company's decision to rent back equipment from a customer underscores the challenges of scaling up production while maintaining profit margins.

invezz.com · Jun 25

What’s behind Uber stock’s technical breakout today?

Uber stock experienced a technical breakout, driven by the addition of five major brands to Uber Eats, expanding non-restaurant retail into higher-margin areas. This move is expected to lift Uber One membership and reduce churn. The stock broke above its 20/50/100-day moving averages, with valuation remaining cheap at approximately 2.8 times sales. A clear catalyst is expected in Q2 to validate margin expansion. The news is bullish, with an AI sentiment score of 78/100. The breakout may be reversed if Q2 results fail to show higher take-rates or Uber One growth.

💡 Uber's ability to grow profitable retail delivery gives it an edge over competitors focused on long-term autonomous vehicle ambitions. A shift in investor focus towards near-term delivery monetization could further boost Uber's stock.

us.headtopics.com · Jun 25

Agility Robotics heads to Wall Street in a $2.5B bet on staffing…

Agility Robotics, a maker of humanlike robots, is going public on Wall Street through a planned merger with an investment firm, valuing the company at $2.5 billion. The company's product line, called Digit, is designed to pick up and move heavy bins and totes in warehouses and industrial facilities. Agility Robotics has backing from major companies such as Amazon, Nvidia, and SoftBank, and its early customers include Toyota and Mercado Libre. The company's robots specialize in manual labor that is repetitive, dirty, and prone to injury for humans. Digit is the first humanoid robot employed and commercially operational in warehouse and industrial facilities, with upcoming versions able to work alongside humans.

💡 By going public, Agility Robotics gains access to more capital to scale its operations and meet growing demand for automation in warehouses. Its success could pave the way for wider adoption of humanoid robots in industrial settings.

cleantechnica.com · Jun 24

Trillion-Dollar AI Bubble On Verge Of Popping?

The artificial intelligence (AI) industry is facing concerns about its financial sustainability, with some experts warning of a potential "bubble explosion." Noted AI researcher Yann LeCun has stated that the industry's costs are not decreasing quickly enough to match the rising prices of AI services, leading to significant losses for companies. LeCun also highlighted the struggles of xAI, a company acquired by SpaceX, which has resorted to renting out its excess computing infrastructure to competitors. Meanwhile, a recent report found that 95% of organizations see no measurable return on their investment in AI technologies.

💡 The AI industry's financial reckoning could have far-reaching consequences for the tech sector, with potential implications for investors and companies alike. As the industry's costs continue to outpace revenue, companies may be forced to raise prices or cut costs, which could lead to a significant shift in the market.

newsbytesapp.com · Jun 24

Meta plans prediction market app to rival Kalshi, Polymarket

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💡 Meta's entry into the prediction markets space poses a significant threat to existing players, forcing them to adapt to increased competition. The move also raises questions about the potential for real money trading on the platform, which could have far-reaching implications for the industry.

techcrunch.com · Jun 24

Agility Robotics plans to go public via SPAC in a $2.5B deal

Agility Robotics plans to go public through a merger with Churchill Capital Corp XI, valuing the company at $2.5 billion. The transaction is expected to generate over $620 million in proceeds, including $200 million from new and existing investors. Agility is known for its bipedal robot Digit, used across nine customer sites, and has backing from tech companies like Amazon and Nvidia. The company will use the capital to increase production capacity of its next-generation Digit v5, fulfill orders, and expand to new customers. Agility has secured over $300 million in multi-year orders and has a pipeline of potential customers.

💡 Humanoid robots like Digit are addressing labor shortages and improving efficiency for enterprises. Agility's public listing will further accelerate the deployment of AI-powered automation in operations.