Strategists sound alarm over silver’s rally, recommend options trades for potential violent reversal

GE Vernova rises on plan to address data center power needs

GE Vernova rose Friday as the market digested reports of Trump administration plans to effectively push hyperscalers to foot the bill for new power plants to feed the giant grid that’s home to some of country’s most data center-dense districts.

In a note, Jefferies analysts called GE Vernova — the maker of turbines for natural gas-fueled power plants — the “clearest winner” of such a plan.

(The need for additional power plants would mean more sales and/or higher prices for its products.)

Jefferies says plans for additional capacity in the PJM grid — a 13-state swath that includes areas of high data center concentration like northern Virginia and Ohio — is a negative for companies like Vistra, Constellation Energy, and Talen Energy, which had invested heavily in the the PJM grid, likely hoping elevated prices would persist. That seems less likely should plans to boost power supply in the grid actually come to pass.

Trump to push Big Tech to fund new power plants as AI drives up electricity costs

(The need for additional power plants would mean more sales and/or higher prices for its products.)

Jefferies says plans for additional capacity in the PJM grid — a 13-state swath that includes areas of high data center concentration like northern Virginia and Ohio — is a negative for companies like Vistra, Constellation Energy, and Talen Energy, which had invested heavily in the the PJM grid, likely hoping elevated prices would persist. That seems less likely should plans to boost power supply in the grid actually come to pass.

Matt Phillips3h

AST SpaceMobile rises on deal giving it prime position for Golden Dome project

Retail favorite and satellite-services-from-space play AST SpaceMobile jumped early Friday on news that it’s signed a deal as a “prime contract awardee” for the US Department of Defense’s Golden Dome missile defense strategy, allowing it to quickly bid on and deliver services in R&D, engineering, and operations.

The agreement, known as an indefinite-delivery/indefinite-quantity contract, effectively prequalifies ASTS as a vendor for the Trump administration’s proposed Golden Dome project.

AST SpaceMobile Gets Golden Dome Contract

Claire Yubin Oh & David Crowther4h

For retail traders, silver is still the new gold — and it’s sending trading volumes for one ETF booming

Silver is holding on to its gold medal — at least from retail traders. Per data from SwaggyStocks, the iShares Silver Trust has been the top trending ticker in the r/WallStreetBets subreddit over each of the past 12 hours, 1 day, and 1 week — with mentions over the past week roughly triple that of the SPDR Gold Shares ETF .

Since really becoming popular with retail traders last October, gold and silver have only gained in status, with both seeming to make gains in both risk-off and risk-on environments.

Just this week, Fed Chair Jerome Powell’s comment on the Department of Justice subpoenas gave both of the precious metals a chance to prove their mettle as a store of value, but silver’s volatility and relentlessly positive price action — prices have nearly tripled in the last year — are seeing it win over more volatility-seeking fans on Reddit. That increased retail attention is translating into serious trading activity, with volumes for the SLV ETF hitting an average turnover of $9.6 billion over the last five trading sessions, 61% more than what changed hands in GLD.

With super-high electrical conductivity, silver is widely used in electronics — making it more vulnerable to supply shocks. Indeed, the silver market is currently experiencing thin inventories in London (where benchmark silver prices are set) just as new export restrictions from China, a leading silver producer, started on January 1.

Luke Kawa4h

Flurry of positive announcements make ImmunityBio the next short squeeze target for retail traders

Heavily shorted ImmnuityBio is continuing its stellar run, up big in premarket trading after management delivered its fourth and fifth doses of positive news for the week.

In a pair of press releases, the biotech company said that:

A trial aiming to advance the utilization of its bladder cancer drug (ANKTIVA) is over 85% complete, with interim analysis having been positive.
A study of one of its treatments delivered in concert with another drug helped patients stay clear of Waldenstrom Non-Hodgkins Lymphoma for up to 15 months.

At their premarket peak on Friday, shares had more than doubled on the week.

The stock jumped 30% on Thursday after management said that ANKTIVA volume sales rose 750% in 2025. That came on the heels of a 7% rise on Wednesday after Saudi Arabia approved this drug as part of a treatment for bladder cancer and non-small cell lung cancer. And that followed a release from the company on Tuesday about how ANKTIVA “demonstrated statistically significant immune restoration across two clinical trials in 151 patients with non-small cell lung cancer,” driving shares up nearly 9%.

About 36.5% of the company’s shares were sold short as of the start of this year, and retail traders are clearly of the view that those betting against the company will be forced to capitulate amid this litany of positive releases. As of 7:30 a.m. ET, two of the top three posts on the r/ShortSqueeze subreddit center on the biotech firm, with one of these a cross-post from r/WallStreetBets of a more than $90,000 position initiated after the close on Thursday.

This may be another instance in which the term “short squeeze” looks like a bit of a misnomer: as of year-end 2025, about 120.6 million shares of IBRX were sold short, per exchange data. Cumulative volumes over the past three full sessions have been above 150 million. So going forward, if there are shorts left to be squeezed, it’s because this three-day spike (going on four days!) had much more to do with a buyer’s binge thanks to this string of encouraging news.

David Crowther & Claire Yubin Oh6h

Sandisk beat the entire S&P 500 in 2025… and it’s doing the same again this year

The New York Yankees. Italy’s national soccer team in the 1930s. The Chicago Bulls in the 1990s. The New England Patriots 22 years ago. Winning back-to-back titles etches your name in history.

And, though we’re only two weeks into the year, Sandisk is making a strong early case for its name to be added to the annals of stock market lore. After topping the S&P 500 Index with a whopping 559% total return in 2025, the stock is once again beating out around 500 of America’s largest companies this year too, already notching a 72% return since the calendars flipped. Sandisk is also up again in premarket trading on Friday.

Back-to-back S&P 500 champ?

Though we have index-level data for the S&P 500 going all the way back to the 1920s (when it was a composite benchmark of far fewer names), getting comprehensive year-by-year returns of its constituents is a trickier business. But, from our research this morning, we found that no stock has ever managed to top the list twice in a row. That’s certainly the case in the modern era, though AppLovin made a strong defense of its 2024 title last year, finishing 11th with a 108% gain, while another AI-adjacent name, Palantir Technologies, came pretty close in both of the last two years. After gaining more than 350% in 2024, finishing second, Palantir led the index at various points last year, before Sandisk went parabolic to take the crown.

While other memory and storage companies like Western Digital, Seagate, and Micron have made serious gains, none have ripped as hard as SNDK.

Reemerging as a stand-alone company from Western Digital in February 2025, Sandisk’s focus on flash storage (specifically NAND) has made it an investor favorite as a pure-play company, benefiting from the enormous troves of data stored by hyperscalers to train and deploy their AI models — a need that is only likely to grow as adoption surges. Could Sandisk manage the back-to-back? The math (and the history) would suggest it’s very unlikely, even after a blistering start.