Premarket: Netflix Tumbles Over 7%, Leading Tech Selloff; Lucid Surges Nearly 14%
Complete. Here is the key summaryNetflix dropped over 7% leading tech decliners premarket, while Nvidia fell more than 2%. Lucid jumped nearly 14% to pace the EV sector. Mara slid over 6% as crypto stocks weakened.
U.S. stocks faced a mixed premarket session on July 20, with major tech names broadly under pressure. Netflix (NFLX) tumbled 7.26% to $68.95, Nvidia (NVDA) fell 2.21% to $202.81, and Intel (INTC) slid 2% to $95.04. Apple (AAPL) edged up 0.14% to $333.74, showing relative resilience.
Tech heavyweights were mostly lower, with Netflix's sharp decline of more than 7% capturing the market's attention. Meanwhile, the EV sector bucked the trend, as Lucid surged nearly 14% to lead the group. Cryptocurrency-linked stocks broadly retreated, with Mara down more than 6%.
Tech Under Pressure as Netflix Plunges Over 7%
As of press time, Netflix (NFLX) had dropped 7.26% to $68.95 on volume exceeding 142 million shares. Nvidia (NVDA) declined 2.21% to $202.81, Intel (INTC) fell 2% to $95.04, and Amazon (AMZN) slipped 1.06% to $247.23. Oracle (ORCL) bucked the downtrend, rising 1.77% to $126.41.
On the macro front, investors are eyeing Microsoft's July 29 earnings report for directional cues on Nvidia and the broader AI supply chain. As a key Nvidia customer, Microsoft's cloud business growth and capex guidance will directly shape market expectations for AI infrastructure spending. Additionally, Fed Chair Warsh's reduced reliance on forward guidance has prompted Wall Street firms to deploy AI tools to decipher policy signals, with monetary policy uncertainty weighing on growth-oriented tech stocks in the near term.
EV Sector Rallies as Lucid Surges Nearly 14%
As of press time, Lucid (LCID) soared 13.93% to $7.36 on volume exceeding 48.3 million shares, leading the electric vehicle sector higher. Faraday Future (FFAI) jumped 8.25% to $0.1338, while Plug Power (PLUG) added 0.93% to $2.17.
Crypto Stocks Slide as Mara Drops Over 6%
As of press time, Mara (MARA) fell 6.39% to $10.69 on volume exceeding 43.68 million shares. Terawulf (WULF) edged up 1% to $18.16, bucking the broader selloff in crypto-exposed names.
Elsewhere, American Airlines (AAL) dropped nearly 4% to $14.98, Hecla Mining (HL) declined 1.31% to $14.33, and Bank of America (BAC) dipped 0.36% to $61.27. Southland (SLND) skyrocketed 67% to $1.14, while Callan Jmb (CJMB) surged more than 41%.