An AI safety debate rattled Asian markets overnight. Samsung, SK Hynix, and SoftBank led the regional selloff. Commentators are warning Monday could be rough for US tech. NVDA sits at the centre of the storm. Its $5.3 trillion market cap makes it the single biggest risk-off target. Short sellers are pressing the name via options, with negative flow topping the leaderboard this past week. An NVDA director also filed $411 million in open-market sales last week — adding to near-term supply pressure.
Two drug trial results landed this morning and both moved markets. BNTX (BioNTech) reported a hazard ratio of 0.56 for lung cancer drug gotistobart vs. docetaxel in its PRESERVE-003 Phase 3 trial. That is a meaningful survival improvement. GSK also delivered strong data — its Jideytro drug hit a 94% objective response rate in ROS1-positive lung cancer. Both names are moving on the results this morning.
(Trip.com) reports Q2 tomorrow. The $24.6 billion Chinese travel giant carries just 2% short interest — bulls are in control. (Lennar) follows Wednesday with Q3 homebuilder results. Short interest sits at 9.8% of float, one of the higher reads among large builders.
APP (AppLovin) was upgraded to Buy this week. YUM (Yum! Brands) also got a lift. Travel names ABNB and EXPE saw target prices raised. On the short side, CHWY short interest jumped 13.8 percentage points in a week to 77.7% of float — bears are firmly in charge there.
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