markets

Claire Yubin Oh14h

Korean e-commerce giant Coupang drops after massive data breach

Leading Korean retailer Coupang is down 9% after details of a breach of personal information from 33.7 million accounts came to light — one of the widest hacks on record for the country of some 52 million people.

“We sincerely apologize once again for causing our customers inconvenience,” CEO Park Dae-jun said in a statement. The company, dubbed the Amazon of South Korea, said on Saturday that the breach was only detected on November 18, but that it started as early as June 24, exposing customers’ names, email addresses, shipping addresses, phone numbers, and certain order details but not payment details or login credentials.

The Ministry of Science and ICT said in a statement on Sunday that it has formed a joint investigation team to analyze the cause of the incident after Coupang reported two breach cases on November 20 and 29. A Chinese national who previously worked at the company reportedly hacked the system, per Yonhap News, though that particular claim is unverified at this point.

More Markets

See all Markets

Tasha Matsumoto

Stocks and bitcoin slide as investors’ appetite for risk wanes

Stocks broke their five-session winning streak.

A grizzly bear attempts to open Christmas presents given to them by their keepers, at the La Fleche Zoo, western France, on December 23, 2024.

markets

Traders are pricing in a big swing in AI chip market share to Broadcom from Nvidia

The story within the AI trade lately has been: Google’s a winner, and OpenAI is a... well, to be kind, non-winner.

Companies closely tied to the former, like Broadcom, which codesigns the TPUs that Gemini 3 was trained on, have benefited from their relationship with the hyperscaling search giant. Conversely, Nvidia, which sells to both Google and OpenAI but is besieged with worries about how custom chips might impact its AI market share (and profitability), has been selling off.

“NVDA stock is now trading at its widest ever ~40% discount to AVGO’s current 42x forward PE versus historical -10%/+7% discount/premium over the past 1/2 yrs, respectively,” Bank of America analyst Vivek Arya wrote. “In other words, consensus has already implicitly shifted at least 10+ points of (2H26E/27E) AI market share towards AVGO, conceptually.”

The abrupt shift in valuation amid this divergent price action is reversing course on Monday: Nvidia’s up about 1.5% as of 10:55 a.m. ET, while Broadcom is off 2.6%.

Max Knoblauch10h

Air taxi companies are in the red as Goldman initiates coverage on Archer, Joby, and Beta

Goldman Sachs initiated coverage of the major US air taxi companies on Monday, including Joby Aviation, Archer Aviation, and Beta Technologies. All three are trading down as the bank’s first notes hit investor inboxes.

Though Joby “appears to be in pole position” on certification, analyst Anthony Valentini gave the stock a “sell” rating and a $10 price target — 30% below the value of Joby’s stock at Friday’s close. Valentini wrote that it’s unclear where competitors stand in the process.

Goldman gave Archer a “neutral” rating and an $11 price target, highlighting the company’s ability to cut spending. Beta Technologies, which went public last month, received a “buy” rating and a $47 price target.

Strategy announces $1.44 billion “US dollar reserve” to avoid participating in bitcoin fire sale

The digital treasury company also lowered its outlook for full-year operating income, net income, and earnings per share by more than 90% compared to its October 30 guidance.

Saylor

markets

Matt Phillips11h

Crypto-adjacent stocks drop to start the week

Crypto-adjacent shares slid in early trading along with unprofitable tech company shares, as animal spirits ebbed to start the US trading week.

Goldman Sachs’ basket of bitcoin-sensitive stocks — heavily weighted toward Coinbase and treasury companies like MARA Holdings and Strategy — was down more than 3% early, reflecting another tumble in bitcoin overnight, though bitcoin prices stabilized a bit in early US trading. Robinhood Markets — shares of which have at times taken cues from the price of crypto, which is traded on the brokerage app — was also down.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company.)

It would take a talented druid and a flock’s worth of bird entrails to the divine precisely what’s driving the downdraft. But S&P’s recent assessment of the vulnerability of Tether’s stablecoin, USDT — the world’s largest of these supposedly safer forms of crypto — to the bitcoin sell-off might be playing a role.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.

©2025 Sherwood Media, LLC