Nasdaq tumbled 4% as chip and memory stocks led the selloff. The move tracked a broader re-pricing of AI-linked names. South Korean markets fell over 5% in sympathy, with tech heavyweights dragging indices lower. Hedge funds are now actively shorting call-centre stocks, citing AI disruption as a clean structural threat to outsourcing companies.
NVDA director Mark Stevens sold nearly $200 million in shares on June 2 and June 4. The filing landed this week with the stock near all-time highs. Separately, the Walton Family Trust disclosed $510 million in WMT sales across ten transactions. Both filings signal insiders taking profits at elevated prices.
Oracle reports Q4 on June 10, with AI cloud revenue the key watch item. Adobe follows June 11. Options bears are pre-positioning in ahead of its June 8 print, with shorts reloading and the CEO selling into recent weakness. heads into earnings with short interest at 26.5% of free float and available shares nearly exhausted.
European stocks slid broadly, though defence names rallied after Ukraine ratified a $105 billion EU loan deal. Warner Bros. Discovery insiders sold into recent strength — the stock has now given back those gains. Ciena stands out as the week's biggest analyst call, with UBS lifting its target 78% to $508.
Bitcoin fell sharply after Strategy's latest sale unnerved crypto traders. The move puts crypto on course for its biggest weekly loss since November 2022.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
