Happy Thursday! Some of the market’s most notable companies have plunged, but could this chaos hide a golden opportunity? Read on to see which stocks are at levels not seen since the pandemic and how you could make the next move before the rebound hits.

Also, this company just lit up Wall Street in a way few saw coming. Discover how this once beaten-down stock stole the spotlight with a jaw-dropping move that squeezed shorts for a 35% gain — and the move may be just beginning.

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Note: Starting next week, the Ring The Bell newsletter will be landing in your inbox at 7:00 AM ET instead of 9:00 AM, to give you an even bigger jump on the market.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• MARKET HISTORY

From AI Darlings To Bargains: 5 Tech Stocks Near Covid-Era Valuations

Some of Wall Street’s most notable companies are in freefall, and savvy investors are trying to decide if catching a falling knife will bring more pain, or if they are staring at a once-in-a-decade buying opportunity.

Read on to see which stocks in particular are trading at valuations not seen since the Covid era, and how you could position yourself to profit before the rebound hits.

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Yesterday: U.S. indexes finished mixed Wednesday as a selloff in tech stocks dragged the Nasdaq and S&P 500 lower, while the Dow rose 260 points as investors rotated into defensive and cyclical sectors. Software companies remained under pressure amid concerns over AI disruptions which has caused valuations to plunge. On the earnings front, Alphabet topped estimates, however, higher-than-expected AI spending plans left shares flat, while Nvidia and Broadcom soared on the news. Crypto continues its slid, with Bitcoin hitting a new 52-week low ($70,000). Despite recent volatility, earnings have been strong, with nearly half of S&P 500 companies reporting and fourth-quarter profit growth now expected around 12%, while the S&P 500 remains up about 16% over the past year.

On Our Radar: Analysts will be paying attention to Friday’s U.S. unemployment rate and hourly wages report to gauge the health of the labor market. On the earnings front, all eyes will be on Reddit (RDDT) and Strategy (MSTR) which will report after the market close.

The software selloff extended into Wednesday, with the iShares Expanded Tech-Software Sector ETF (IGV) falling for a seventh straight session and sliding back to levels last seen during the April 2025 tariff shock. AMD (AMD) and Palantir (PLTR) weren’t immune either as both companies got slammed after earnings failed to excite Wall Street. Meanwhile, there were pockets of opportunities with Enphase (ENPH), Super Micro (SMCI) and MGM Resorts (MGM) all soaring. But those weren’t the only companies making big moves. Here’s a look at some of the biggest winners and losers on Wednesday.

See how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

$400 billion: Shares of Alphabet whipsawed in both directions during after hours action as the company reported Q4 earnings. With annual revenue topping a record $400 billion, read on to see what Wall Street is focused on, and why it should demand your attention.

Big Moves: Led by Cathie Wood, Ark Invest made significant trades involving Tesla, AMD, and CoreWeave. Read on to see which ones she’s been buying and selling and why.

Short Seller: Renowned short-seller Jim Chanos is sounding the alarms about the “data centers in space.” His latest warning hints at potential risks that investors can’t afford to ignore.

Priced For Perfection?: Despite a $600M earnings beat, AMD plunged 17%, erasing up to $60 billion in market cap. Investors are betting on flawless execution across six critical areas — and Wall Street isn’t convinced.

Merger Mania: Texas Instruments is making waves with a $7.5 billion acquisition of Silicon Labs, merging two semiconductor powerhouses. Read on for all the details and why this deal is shaking up the chip industry.

4 ‘AI Round Two’ Stocks Already Moving

“Round One” of the AI boom built the backbone: chips, data centers, infrastructure. Round Two? That's where the REAL wealth gets made. We're talking about AI drug discovery.

Autonomous cybersecurity. And we just flagged four stocks at the front of this wave. In fact, one surged 14.5% in forty-eight hours. The best part? It's still under our buy limit. But the window to get in is closing.

(Past performance is not indicative of future results)

On This Day In 2013…

Dell announced a $24.4 billion buyout led by founder Michael Dell and Silver Lake Partners, valuing the company at $13.65 per share. The deal took Dell private after 25 years on the public markets, making it one of the largest technology buyouts at the time. Five years later, in December 2018, Dell returned to the public markets through a reverse merger with its subsidiary VMware. Today, the company trades on the NYSE and has a market capitalization of more than $80 billion, roughly three times its buyout valuation.

QUOTE OF THE DAY

“Timing the market is a fool’s game.“

— Ray Dalio

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