Good morning.
Palantir just got body-slammed. The stock dropped another 9.3% Tuesday, capping five straight days of losses and wiping out a big chunk of its 150% run since April.
The tech wreck didn’t stop there. Nvidia fell 3.5%, AMD slid 5.4%, and Meta lost 2.1% as traders bailed on the AI trade that’s carried markets all year.
Lowe’s dropped earnings, and they were hot—the Home Depot vs. Lowe’s debate we began yesterday has been decided, and only 1 of our readers chose the right answer. A similar moment is happening between Target and Walmart.
Meanwhile, the US government might actually take more equity stakes in chip companies like Micron, TSMC, and Samsung in exchange for federal funding.
More on all that below.
In partnership with Finance Wrapped
Stock market news, but make it funny
Ready to read finance news in a water cooler talk tone?
Finance Wrapped brings you the most important, pressing news stories three times a week—but its real goal is to make you laugh.
The newsletter sends you developing stories, investing memes, and market reads across finance, tech, and policy every week.
If you’re ready to get some investing news in a way you can truly enjoy, sign up now.
Please support our partners!
📰 Market Headlines
Stocks wobbled slightly on Tuesday as tech tumbled.
Nasdaq held flat, the S&P 500 wavered around the flatline, while the Dow rose 0.1%.
Palantir crashed 9.3% on Tuesday, extending its losing streak to five straight sessions. The data analytics darling has now given back serious ground after rocketing 150% from its April low through Q2 earnings. Short seller Citron Research twisted the knife Monday with a brutal $40 price target, calling even that "generous."
The tech selloff spread wide, with Nvidia dropping 3.5% and AMD sliding 5.4%. Meta fell 2.1% as investors rotated away from the AI trade that powered stocks to records this year.
President Trump eyed government stakes in chipmakers beyond Intel. Commerce Secretary Howard Lutnick is exploring equity positions in companies like Micron, TSMC, and Samsung in exchange for CHIPS Act funding. The move would give Washington unprecedented influence over major semiconductor players.
Lowe's did end up outperforming Home Depot, and $LOW shares jumped 2.18% on $1.19 billion volume ahead of earnings as the RSI hit an overbought 72.05. Options activity exploded with 14.8 million contracts traded, particularly in the 260/267.5 call range, signaling aggressive speculative positioning.
Target $TGT shares fell 10% in after-hours trading yesterday. The retailer’s earnings call included sales and earnings beats—but also the announcement of a new Target CEO. Noteworthy: analysts are saying that Target may need to raise prices by 8% to keep up with tariffs, which is twice as much as Walmart’s estimated price hikes.
Speaking of, Walmart is posting earnings tomorrow after recalling radioactive shrimp yesterday. Options traders are currently pricing in a ±4% move post-earnings. If Walmart outperforms (despite the shrimp news), some traders may be considering going long $WMT or shorting $TGT.
Congresswoman Marjorie Taylor Greene (MTG) just filed some fascinating trades:
$UNH (just like Warren Buffett and Michael Burry)
$FIG (bought Aug 4, post IPO)
$UPS
She also bought $PLTR on July 22nd.
See the full list of MTG buys →
😱 Fear and Greed Index
The index dropped by a modest 5 points, likely driven by the selloff that the tech industry is experiencing at the moment.
When tech underperforms, the entire market feels it: the Magnificent 7 stocks now make up 31% of the entire S&P 500 by weight.
🪙 Crypto
Tether hired former White House Crypto Council Chief Bo Hines to help steer its US expansion.
Bitcoin tumbled and Ether slid under $4,200 as investors braced for Fed Chair Powell’s Jackson Hole speech this Friday.
The SEC delayed decisions on a slew of crypto ETFs, including funds for Solana, XRP, and Dogecoin, until October 2025.
Fed supervision chief Michelle Bowman warned banks that didn’t embrace crypto would play a diminished role in the financial system.
🤖 AI/Future/Tech News
Meta shook up its AI division and restructured it into four new teams under the Meta Superintelligence Labs, led by new Chief AI Officer Alexandr Wang.
🚨 Trending on Reddit
Redditors are comparing Walmart and Target in r/WallStreetBets, citing concerns about Target’s earnings, its new internal CEO promotion, and business practices that may have alienated some of its customer base. Meanwhile, users speculate that tighter budgets might be pushing consumers more toward Walmart, causing increased market share.
GameStop mentions show moderately bullish sentiment on r/WallStreetBets, with the stock down 1.23% on August 19. Options activity remains in line with averages, with calls leading puts at a ratio of 0.31 compared to the typical 0.22, suggesting retail investors aren't letting go of their diamond hands despite the dip.
🤫 Insider Trading
Stock | Who bought/sold? | Trade details | Total amount |
|---|---|---|---|
TNGX $TNGX | 10% Owner | Proposed Sale 1,100,00 shares @ $6.96 on Aug | $7,656,000 total |
NUGN $NUGN | CIO | Bought 1,000,000,000 shares @ ~$0.001 on | $1,00,000 total |
💲 Alternative Investment of The Day
Private equity secondaries market: Neuberger Berman approached a first close on its $5 billion private equity secondaries fund, aiming to raise at least half the total by December. The firm has already pulled in $4 billion for a related vehicle, as investors pile into secondaries to gain exposure to mature assets at a discount. The strategy has gained traction amid tighter fundraising conditions and longer hold periods.
📊 IPOs and Earnings
Toll Brothers beat Q3 estimates with earnings of 3.73 per share on revenues of 2.95 billion, and shares ticked up 0.76%.
Amer Sports trounced Q2 earnings and sales forecasts, raised its annual outlook, but shares slid 6.28%.
La-Z-Boy missed Q1 earnings and revenue expectations as consumer demand sagged; shares plunged 17%.
Medtronic squeaked past Q1 earnings and revenue estimates, reporting 8.58 billion in sales, but shares dropped 3.14%.
XPeng is set to report Q2 results after a year of surging deliveries and a 123% revenue jump; shares have soared over 70% year-to-date.
🚚 Market Movers
Nexstar snapped up Tegna in a $6.2 billion deal at $22.00 per share—a 31% premium. The combined giant now commands the largest collection of local stations in the US.
DoorDash’s $3.9 billion bid for Deliveroo is cruising through the EU’s simplified review, signaling a likely green light from regulators.
Peabody nixed its Anglo American coal asset acquisition after a mine ignition event torched production forecasts. Now, Peabody plans to return up to 100% of free cash flow to shareholders.
Best Buy Marketplace supercharged the retailer’s online shelves, more than doubling its product lineup and adding everything from Fanatics sports merch to musical instruments.
🎙 What Do You Think?
Thoughts on the US government taking stakes in chip companies?
🎤️ What you said last time
🎪 Crowdfunding Showcase
Siren Biotechnology, backed by Peter Thiel’s Founders Fund, is raising capital on Wefunder for its universal AAV immuno-gene therapy. The goal: use a safe virus to deliver instructions that teach your body’s immune system to destroy tumors. Preclinical trials in animals showed an 86% survival rate for aggressive brain cancers. Invest in Siren’s universal AAV therapy→
🧠 The Missing (Market) Links
Social arbitrage trader Chris Camillo has flagged that Google seems to be getting serious search volume from AI models—and isn’t reporting it.
Robinhood is launching prediction markets for NFL and college football.
For the first time ever, a new home costs $30,000 LESS than an existing home.
According to Axios, ChatGPT is more positive about this bull market than humans are because it doesn’t have emotions. Who’d’ve thought!
Speaking of, a new benchmark is showing that AI is already better than humans at predicting real-world events.
📜 Quote of the Day
“In investing, the person who turns over the most rocks wins the game.”
📢 We want to hear from you
We love hearing from you, and we deeply appreciate your feedback.
⭐️ What did you think of today's edition?
That’s all for today. Did we miss anything? Smash the reply button to let me know.
Cheers,
Brandon & Blake
The information provided in Stocks & Income is for informational and educational purposes only and should not be construed as financial advice, investment advice, or a recommendation to buy or sell any securities. Stocks & Income is not a registered investment advisor, broker-dealer, or licensed financial planner. Always do your own research and consult with a licensed financial advisor before making any investment decisions. We may hold positions in or receive compensation from the companies or products mentioned. Disclosures will be made where applicable.