In sympathy with SpaceX (SPCX) falling by 6.83% on Tuesday, shares of Rocket Lab (RKLB) declined by 10.4%. AST SpaceMobile (SPCX) dropped by nearly 8%.
Short-sellers hold a 5.9% short interest on RKLB stock. Their bet might increase as bears grow increasingly concerned that buying Iridium Communications (IRDM) for $8 billion introduces business risks.
Cboe Global Markets (CBOE) added 5.53% on Tuesday. Markets are less concerned about the June 2 news of both Kalshi and Coinbase Global (COIN) launching perpetual futures. In this sector, investors may consider Intercontinental Exchange (ICE) and CME Group (CME).
In the energy sector, Occidental Petroleum (OXY) added 5.88%. The stock benefits when WTI crude prices are on the rise. The chances are high that prices bottomed at around $70.00/bbl. It could rebound back to the $80/bbl level if tensions in Iran return.
In the chip sector, worries returned despite Samsung (SSNLF) posting strong profits. Still, Samsung mobile device sales are struggling. High memory prices are deterring consumers from buying phones. Samsung’s slump also hurt Sandisk (SNDK) and Nvidia (NVDA). The day before, S. Korea’s KOSPI also fell by around 7%. That triggered a circuit breaker (level 1). The breakers are issued when KOSPI or KOSDAQ falls by 8%, 15%, and 20%.
