---
title: "Fleeing Big Tech: From Foam Clogs to Gold Mines, The Great Non-Tech Rotation"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290323295.md"
description: "Tech mega-caps are exhausting. Capital is flooding consumer and resource sectors. Luckin's comeback is real, Under Armour is flailing, and this market rotation takes no prisoners."
datetime: "2026-06-20T09:04:30.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290323295.md)
  - [en](https://longbridge.com/en/news/290323295.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290323295.md)
---

# Fleeing Big Tech: From Foam Clogs to Gold Mines, The Great Non-Tech Rotation

Tech giants are draining everyone's patience, so capital is frantically escaping to every corner of the market—from foam clogs to gold mines. It’s a chaotic safe-haven alliance where some are printing money and others are asleep at the wheel. This is stupid and here's why: you don't need to change the world to make a profit.

### Crocs (CROX.US)

Who knew a polarizing foam shoe would deliver such impressive financial returns? Riding a solid year-to-date performance, Crocs is aggressively expanding into sandals with a **USD 500M** sales target. After hitting **USD 4.1B** in 2024 revenue, this isn't a joke anymore—it's a cash machine.

### Under Armour-A (UAA.US)

Splitting with Stephen Curry? Under Armour is staging a disastrous amputation. With Q4 2026 revenue dropping to **USD 1.2B** and its North American base bleeding, they are shuffling executives again. Hoping to return to glory with this much chaos? Good luck with that.

### Luckin Coffee (LKNCY.US)

Remember when they were Wall Street’s famous cautionary tale? Now they are returning to New York with **34.5 billion yuan** in 2024 revenue and nearly 20,000 stores. This isn’t just a redemption arc; it's a slap in the face to legacy chains. Executing localized menus overseas? That's serious agility.

### Barrick Gold (B.US)

When macro narratives go insane, gold is the classic sanctuary. Barrick delivered robust Q1 results, raised production forecasts, and unleashed a massive **USD 1B** share buyback. In a bubble-prone market, real cash flow and expanding margins still reign supreme.

The rest of the sector moves you need to watch:

-   **Miniso (MNSO.US)** — Exporting Barbie IP globally, targeting double-digit growth by 2026, though shares recently pulled back.
-   **Vipshop (VIPS.US)** — Clinging to its discount retail model while trying to survive a brutal e-commerce price war.
-   **KE Holdings (BEKE.US)** — Q1 2026 revenue fell **19%**. Struggling in the property cycle mud, with shares taking a recent dive.
-   **Canadian Solar (CSIQ.US)** — Expanding Texas capacity despite industry headwinds, armed with a **USD 3.2B** energy storage backlog.

_This article does not constitute investment advice._

### Related Stocks

- [CROX.US](https://longbridge.com/en/quote/CROX.US.md)
- [UAA.US](https://longbridge.com/en/quote/UAA.US.md)
- [MNSO.US](https://longbridge.com/en/quote/MNSO.US.md)
- [LKNCY.US](https://longbridge.com/en/quote/LKNCY.US.md)
- [VIPS.US](https://longbridge.com/en/quote/VIPS.US.md)
- [BEKE.US](https://longbridge.com/en/quote/BEKE.US.md)
- [B.US](https://longbridge.com/en/quote/B.US.md)
- [CSIQ.US](https://longbridge.com/en/quote/CSIQ.US.md)

## Related News & Research

- [China's Luckin Coffee Opens Over 5,000 New Stores While Rivals Shrink Operations in First Half](https://longbridge.com/en/news/294769058.md)
- [Crocs, Inc. (NASDAQ:CROX) Receives Average Recommendation of "Moderate Buy" from Brokerages](https://longbridge.com/en/news/294664663.md)
- [Crocs Q2 profit rises on DTC growth; boosts buyback](https://longbridge.com/en/news/294356511.md)
- [KE Holdings files HKEX next-day disclosure return on share repurchase for cancellation](https://longbridge.com/en/news/294503808.md)
- [KE Holdings Details Extensive May–July 2026 Share Buybacks in Latest Form 6-K](https://longbridge.com/en/news/294681341.md)