Investors are entering a historically weak period for the market after last month's strong performance. Their troubles may not stop there. On top of June ranking as the fourth-worst month on average for the S & P 500, per Stock Trader's Almanac data, BTIG pointed out that high-beta momentum stocks have gained 42% over the past nine weeks to record levels. That sort of strength has only been seen t...
Investors are entering a historically weak period for the market after last month's strong performance. Their troubles may not stop there. On top of June ranking as the fourth-worst month on average for the S & P 500, per Stock Trader's Almanac data, BTIG pointed out that high-beta momentum stocks have gained 42% over the past nine weeks to record levels. That sort of strength has only been seen two other times: November 1999 and January 2021. High-beta stocks are those that are generally more volatile than the broader market. "To be fair, from Nov. '99 into the final peak in March '00, high-beta momentum gained another 90%, and from Jan. '21 into the Feb. '21 peak it gained another 26%. However, all of those gains were quickly given back in the ensuing months," chief market technician Jonathan Krinsky wrote to clients. "We would caution chasing further strength high-beta momentum into June," he added. High-beta momentum stocks aren't the only ones soaring of late. The S & P 500 climbed 5% in May, topping 7,500 for the first time, as investors grew bullish on the artificial intelligence trade and began pricing in a resolution to the U.S.-Iran war. Tech led those gains , with the sector surging 15.9% while Nvidia popped 5.8% and Advanced Micro Devices rallied 45.6%. Seasonal headwinds, however, could at least pause the broader market's run. The S & P 500 averages a pedestrian 0.2% advance in June, Almanac data shows. In midterm election years, it performs even worse — losing 2.1% on average. Krinsky also pointed out that long/short momentum has fallen in six of the past nine Junes. "While much of the June weakness is due to strength in low momentum rather than weakness in high-mo, the extreme nature of high-mo continues to suggest caution especially when we have the VIX at 15, and divergences popping up," he wrote.
Fauzi Muda/iStock via Getty Images Upstart ( UPST ) has received the distinction of being one of the most shorted names in consumer finance at the moment. When a company finds itself in that category, it is usually for one of two reasons: The business model of the company is truly broken, and the stock will likely fall further. The shorts have bought into a false narrative about the company and ha...
Fauzi Muda/iStock via Getty Images Upstart ( UPST ) has received the distinction of being one of the most shorted names in consumer finance at the moment. When a company finds itself in that category, it is usually for one of two reasons: The business model of the company is truly broken, and the stock will likely fall further. The shorts have bought into a false narrative about the company and have piled in to try to profit from that story. When it comes to Upstart's position in the market today, I believe that it is being so heavily shorted because of reason #2, and I believe that all reasonable investors should consider this possibility. With this in mind, let's take a look at why I think Upstart has become the name that Wall Street loves to hate, and why I believe that sentiment is severely overblown. Upstart is Already Building (and Profiting From) AI Lending Infrastructure Bears will want to argue that Upstart survives and thrives based on consumer borrowing and repayment cycles. They say that if the economy weakens, then a significant number of consumers will default, and there will be nothing that Upstart can do but stand by and watch as its profits crater. It's a harrowing story, but it is also a narrative that is stuck in the past. Upstart isn't simply standing in place. Instead, the company has been a leader in creating AI underwriting platforms that make lending both easier and more profitable for the company. They state : Upstart pioneered the application of artificial intelligence to lending, enabling a system that is dramatically more efficient and more accurate for both borrowers and lenders. Rapid developments in AI foreshadow a world where the right borrower is automatically approved at the right price, instantly and effortlessly. This is not just company fluff either. Management made it clear during the Q1 2026 earnings call that the companies that win the AI race will be the ones that thrive: For lenders, AI will transform credit from a structura...
Shares of IBM (NYSE:IBM) are up 7% in early trading Monday to $320 and change, extending a historic May rally into June. Pure-play quantum names IonQ (NYSE:IONQ) and Rigetti Computing (NASDAQ:RGTI) are moving in the opposite direction, with IONQ stock down 4% to around $69 and RGTI stock down 4% to $24 and change. The ... IBM Jumps 7%; IonQ, Rigetti Sell Off as Quantum Trade Concentrates
Shares of IBM (NYSE:IBM) are up 7% in early trading Monday to $320 and change, extending a historic May rally into June. Pure-play quantum names IonQ (NYSE:IONQ) and Rigetti Computing (NASDAQ:RGTI) are moving in the opposite direction, with IONQ stock down 4% to around $69 and RGTI stock down 4% to $24 and change. The ... IBM Jumps 7%; IonQ, Rigetti Sell Off as Quantum Trade Concentrates
batuhan toker/iStock via Getty Images Thanks to a slate of sequels, sci-fi blockbusters, and psychological thrillers, AMC Entertainment ( AMC ) reached its highest attendance for the month of May in seven years. "Week after week in 2026, it's been clear that as Hollywood has been releasing well-made and well-marketed movies, moviegoers have been pouring out in droves to enjoy the incomparable magi...
batuhan toker/iStock via Getty Images Thanks to a slate of sequels, sci-fi blockbusters, and psychological thrillers, AMC Entertainment ( AMC ) reached its highest attendance for the month of May in seven years. "Week after week in 2026, it's been clear that as Hollywood has been releasing well-made and well-marketed movies, moviegoers have been pouring out in droves to enjoy the incomparable magic of the big screen experience that we offer in our theaters. This current measure of success, combined with the many compelling movies coming to our screens in the weeks and months ahead, gives us great confidence as we look to the rest of 2026," said AMC Entertainment CEO Adam Aron. According to the monthly tally, 25.5M moviegoers attended AMC theaters in May, both domestically and globally, with 4.2M for the Memorial Day weekend alone. Domestic box office results consistently met or exceeded expectations, fueled by blockbusters like The Devil Wears Prada 2, Michael , The Super Mario Galaxy Movie, Project Hail Mary, The Mandalorian and Grogu, and the recently released Backrooms , all of which opened to more than $75M domestically. The results align with rival Cinemark's ( CNK ) strong May showing , marked by record attendance for the month and all-time high food and beverage spending per capita. Both Cinemark ( CNK ) and AMC Entertainment ( AMC ) are anticipating a strong start to summer with a lineup that includes Scary Movie and Masters of the Universe on June 5, Steven Spielberg’s Disclosure Day on June 12, the fifth installment of Toy Story June 19, Supergirl June 26, and Minions and Monsters on July 1. Shares of AMC Entertainment ( AMC ) and Cinemark Holdings ( CNK ) are both trending higher in Monday's premarket trading. More on AMC AMC Entertainment: Dead Cat Bounce AMC Entertainment Dilution Continues To Soar AMC Entertainment Holdings, Inc. (AMC) Q1 2026 Earnings Call Transcript A24’s ‘Backrooms’ opens to $81M, leads box office surge AMC records its best weekend ...
Norfolk Southern Corporation ( NSC ) has appointed Brian Barr as chief operating officer, effective June 1, 2026. During his career, Barr has held leadership roles of increasing responsibility, including terminal superintendent, senior vice president of network planning & services, senior vice president of operations, chief mechanical officer, and senior vice president of engineering and mechanica...
Norfolk Southern Corporation ( NSC ) has appointed Brian Barr as chief operating officer, effective June 1, 2026. During his career, Barr has held leadership roles of increasing responsibility, including terminal superintendent, senior vice president of network planning & services, senior vice president of operations, chief mechanical officer, and senior vice president of engineering and mechanical while at CSX. At Union Pacific he was senior vice president of transportation, having also held the position of general manager of Great Lakes Services. Barr began his career in 1998 as a craft dispatcher at Conrail. Barr replaces John Orr, who will remain employed as a special advisor to the Chair of the Board through June 30, 2026. To support continuity and the successful closing of the Union Pacific merger, Orr will continue as a special advisor to the chair of the board through the earlier of the merger closing or June 1, 2027, the company said. Source: Press Release More on Norfolk Southern Norfolk Southern Corporation (NSC) Presents at Wolfe Research 19th Annual Global Transportation & Industrials Conference Transcript Norfolk Southern Corporation (NSC) Presents at Bank of America 33rd Annual Industrials, Transportation and Airlines Key Leaders Conference Transcript Norfolk Southern Corporation (NSC) Q1 2026 Earnings Call Transcript Trump floated the idea of 15% govt stake in Norfolk Southern/Union Pacific - report Norfolk Southern/Union Pacific deal spread widens as regulator wants more info (update)
Over the past several years, Microsoft has largely managed to withstand populist calls to break up Big Tech while peers faced sweeping lawsuits. But a probe by the Federal Trade Commission suggests that grace period could be nearing an end. Earlier this year, Bloomberg outlined the contents of civil investigative demands (CIDs) - similar to a subpoena - the FTC sent to at least half a dozen compan...
Over the past several years, Microsoft has largely managed to withstand populist calls to break up Big Tech while peers faced sweeping lawsuits. But a probe by the Federal Trade Commission suggests that grace period could be nearing an end. Earlier this year, Bloomberg outlined the contents of civil investigative demands (CIDs) - similar to a subpoena - the FTC sent to at least half a dozen companies that compete with Microsoft. New details obtained by The Verge further reveal the FTC's interests, suggesting the agency is particularly concerned with potentially exclusionary behavior around Microsoft's Azure cloud services, as well as its ro … Read the full story at The Verge.