Markets
markets
Max Knoblauch

JPMorgan downgrades Roblox, says hits like “Steal a Brainrot” are past their peak

Shares of kid-focused gaming platform Roblox fell about 3% in premarket trading on Friday following a downgrade by JPMorgan to “neutral” from “overweight.”

As part of the firm’s 2026 outlook, analyst Cory Carpenter cited key headwinds that could dampen Roblox’s prospects next year. Among them: the need for more viral hits like “Grow a Garden” and “Steal a Brainrot,” which Carpenter says are past their peaks.

According to JPMorgan, further engagement hits could also come from Russia’s ban of the platform (the bank noted that Russia’s ban could affect up to 10 million daily active users, as it’s a top five market) and the facial age estimation rollout coming next month, which Roblox has said may “negatively impact platform engagement in the short term.”

Also looming for Roblox and the entire gaming industry is Take-Two’s expected mass hit “Grand Theft Auto VI.” Per Carpenter, the rollout of the Fornite and Unity Software partnership could also create more noise for Roblox.

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Tasha Matsumoto, Luke Kawa
14m
Tech drags down stocks as Anthropic’s AI tool threatens software companies

Every Mag 7 stock except for Tesla fell as investors rotated out of tech and into a more defensive posture.

Chicago Bears quarterback Dave Krieg shows dejection during a game against the Green Bay Packers on October 6, 1996 in Chicago. Green Bay won the game 37-6.
markets
Luke Kawa

Nvidia slumps to fresh lows after Jensen Huang affirms plans to invest in OpenAI

Nvidia is on track for its worst loss since late November, with shares extending losses after CEO Jensen Huang said the chip designer’s plan to invest in OpenAI is “on track.”

“There’s no drama involved,” he told CNBC. “Everything’s on track.”

With all due respect, there’s definitely some drama:

On Friday, the WSJ reported that Nvidia’s plans to invest up to $100 billion in OpenAI had stalled; shortly thereafter, Huang said the letter of intent announced by the two sides in September was “never a commitment,” but that the company still planned to participate in OpenAI’s upcoming funding round.

Then, a whopping eight sources told Reuters that OpenAI is “unsatisfied” with Nvidia’s latest AI chips, and particularly, their inference capabilities.

CEO Sam Altman took to X to call the reporting around his firm and the most valuable publicly traded company in the world “insanity.”

markets
Max Knoblauch

Major after-hours block trades on Monday drag down Spotify

Spotify is on pace for its worst trading day since July, with shares down more than 8% on Tuesday afternoon.

Major after-hours block trades Monday appear to be driving negative momentum on Tuesday. At 4:52 p.m. ET Monday, 300,000 shares of Spotify were traded at $508.58, a $152.6 million exodus. That represents about 12% of the average daily trading volume for Spotify over the past 20 sessions.

Less than an hour earlier, just after Monday’s close, 131,757 shares were sold at the same price point. Together, the two trades represent about a $220 million withdrawal from the music streamer.

Spotify is expected to report its fourth-quarter and full-year earnings results a week from Tuesday. This month marks the company’s third US subscription price hike in the past three years.

Matt Phillips
4h
Palantir up as Wall Street gushes about Q4 report

But will retail reengage with the shares?

Alex Karp Palantir Shares Surge
markets
Luke Kawa

Opendoor Technologies jumps on reported “Trump Homes” plan from developers, positive signals on mortgage loan growth

Opendoor Technologies is surging on Tuesday on a double dose of good news: a report that mortgage loan growth is soaring and a potential plan to boost US housing supply.

Speaking on CNBC, Rocket Companies CEO Varun Krishna said his firm is “on track to produce the highest mortgage loan volume and the highest gain on sale in four years.”

Separately, Bloomberg reports that US developers are pursuing a “Trump Homes” plan to build up to 1 million homes (or $250 billion in housing) in a bid to make homeownership more accessible. Shares of Lennar and Taylor Morrison, which are both said to be involved with this program, are up on this report.

The Trump Homes plan is being discussed by developers, and Bloomberg reports that “the administration is not actively considering the plan, a White House official said, speaking on condition of anonymity.”

A more active real estate market is music to the ears of Opendoor bulls. Following its Q3 earnings report, new CEO Kaz Nejatian indicated that his plan to turn around the online real estate company involved a high-volume strategy: buying more homes faster, and quickly flipping them for a small profit. The company has significantly expanded its homebuying footprint to include the entire Lower 48 states.

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