Stock markets traded sharply lower for two reasons. First, traders took profits from the recent rally in the S&P 500 (IVV) and Nasdaq (QQQ). Second, NVIDIA (NVDA) lost 5.47% to close at $168.89. This is a level not seen since March-April.
Selling pressure spread to AI server suppliers like Dell Technologies (DELL). Fortunately, the bearishness did not hurt Take-Two Interactive (TTWO). TTWO stock might continue yesterday’s over 8% rally today. It posted an EPS loss of $0.29. Revenue fell by 15.8% Y/Y to $1.49 billion.
GTA VI is Take-Two’s blockbuster game that will launch on November 19. Customers on the Sony (SONY) PlayStation and Microsoft (MSFT) platforms may play the game. The company said that preorders are over seven million units, generating over $750 million in revenue.
The company is forecasting bookings of $8.0 to $8.2 billion for FY 2027.
Rocket Lab (RKLB) might break out of a steep downtrend that started in May. The stock bounced from sub-$50 to $62.71 after posting a Q3 EPS of -$0.12. Revenue grew by 72.7% Y/Y to $267.8 million. Backlog grew by 52% Q/Q. As gross margin strengthens, RKLB stock will potentially climb back to old highs in the $150 range.
On the flip side, AST SpaceMobile (ASTS) fell by nearly 9%. Despite revenue growth of 187.3% Y/Y to $42.32 million (-$0.44 EPS), investors sold the stock. Still, it has launch agreements for over 100 BlueBird satellites it will deploy cumulatively between 2027-28.
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