Insights from GS Prime Brokerage:
1. Info Tech was the most net-bought sector this week, driven mainly by short covers while long buys remain relatively weak.2. Info Tech stocks are still heavily net sold MTD. This week's net-buying through to Thursday represents just ~40% of what HFs had sold in the previous 3 weeks.3. Mag 7 stocks were net sold from Tuesday to Friday last week, highlighting risk-off sentiment.4. Semis & Semi Equip (long buys), Software (short covers), and Tech ETFs (short covers) were the most net-bought Tech subsectors this week.5. Goldman Sachs: "While the directional engine of this market remains intact (token demand + GW/DC build-outs), the market has become much more discerning around the linearity of this story beyond CY27, pressuring multiples across the board until visibility improves, while investors are struggling to find names to rotate into outside of Semis/AI that are less susceptible to daily AI disruption volatility – cue names like IBM, AAPL, SPOT, V/MA, EBAY, LYV all trading well on the week/month."
eBay
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- S
4 major companies have now announced about 10,500 job cuts in just 10 days
$American Express(AXP.US) is cutting 5% of its global workforce, about 3,500 jobs, and took a $336M restructuring charge, CEO Stephen Squeri said Friday$Barclays(BCS.US) Barclays is cutting about 5,000 jobs, or 5% of staff, with 60% in support functions including fewer developers as AI makes staff more productive$eBay(EBAY.US) confirmed it is cutting about 9% of its workforce, roughly 1,000 jobs, its second round of layoffs this year$Netflix(NFLX.US) is laying off about 6% of staff, roughly 1,000 jobs, its biggest cuts since 2022What stands out is that none of these companies are in trouble. $American Express(AXP.US) just raised its 2026 profit guide, Barclays grew pretax profit 12% and $eBay(EBAY.US) says Q3 will beat its own forecast. This is cost cutting from a position of strength, and AI is increasingly the reason given. That's a very different signal than the layoffs of a typical slowdownSource: StockMarket.News
- M
I entered GameStop as a contrarian play after the stock fell to its 52-week low at $18.44, which I see as an attractive entry point for a speculative position. With a current P/E ratio of ~14x and recent developments around CEO Ryan Cohen’s potential withdrawal of an unsolicited takeover bid of eBay for $56 billion could provide an upside catalyst (though we may not see Jan 2021 numbers again - that was when I just started investing - what a short squeeze). TO THE MOON 🚀🚀
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Trade Showcase: Trade, Show & Earn Rewards! - H
📢 𝐉𝐔𝐒𝐓 𝐈𝐍: GameStop CEO Ryan Cohen is reportedly considering withdrawing his $56 billion bid to acquire eBay. - $GameStop(GME.US) $eBay(EBAY.US)
- F
$eBay(EBAY.US) is one of my favorite ideas at moment. A perfect setup that's constructing a nice beautiful English Tea cup. Does it remind you of $Okta(OKTA.US) & $IBM(IBM.US)? It does to me.
- W
Based on Fractal's current layout, we may learn about significant acquisition and merger news before the July 7th shareholders' meeting or July 14th (the official release date of $TEDDY). The announcement could be...eBay acquisition proposal news, or rather, the final $BBBYQ acquisition announcement. When these announcements take effect, I believe $GameStop(GME.US) will hit the $20 gap and fill it, possibly even dropping to the low of $18.7.
