In the world of intraday trading, several companies are making headlines due to significant fluctuations in their stock prices. Boeing has seen a 2% decline in its aircraft inventories after South Korea mandated inspections of all 737-800s in response to a fatal crash involving Jeju Air. This tragic incident, which took the lives of 179 individuals, is noted as the deadliest aviation accident in South Korean history.
MicroStrategy also faced a downturn, with its shares dropping 8% after the company revealed in a regulatory filing that it sold over 592,000 shares between late December. Despite this, MicroStrategy raised approximately $209 million from the sale and reported purchasing over 2,100 Bitcoins during the same period.
The tech sector struggled on Monday, with the S&P 500 tech index decreasing by 1%. Major players, often referred to as the “Magnificent Seven,” including Tesla and Amazon, experienced decreases of 3% and 1%, respectively, while shares of Apple and Microsoft also fell more than 1%. In contrast, energy stocks saw a 5% rise alongside an increase in natural gas prices, which have surged over 57% this year.
In technology-related news, Super Micro Computer’s stock fell 4% after the company terminated a loan and securities agreement with HSBC Bank’s Taiwanese division. The stock has faced ongoing challenges, losing over 61% of its value in the past six months. Additionally, Bitcoin-related stocks declined, with Coinbase and Mara Holdings experiencing drops of 4% and 6%, respectively, as the cryptocurrency market overall faced pressure, despite Bitcoin having recently surpassed the $100,000 mark.
Nvidia, a prominent AI chip manufacturer, managed to rise slightly by less than 1%, contrasting the broader tech market downturn. The stock has posted an impressive increase of 178% since the beginning of the year.