The sharp rise in oil prices between February and June renewed customer interest in electric vehicles. When the U.S. bombing restarted in Iran recently, oil prices rose again.
Bears, who hold a 16.3% short interest in Lucid Group (LCID), managed to send the stock to a low of $2.37. Rumors circulated on July 14 that the company would go private or declare bankruptcy. Lucid promptly issued a statement. It said that it is working with AlixPartners but that claims of bankruptcy were completely false.
Traders might also consider Ford Motor (F), General Motors (GM), or EV truck supplier Rivian (RIVN).
Adobe Systems (ADBE) likely bottomed out at $190.12. Buyers accumulated ADBE shares for several days in June. Although the yearlong downtrend is firmly in place, the uptrend benefited recent shareholders. Markets are convinced that AI tools like Google Nano Banana and Veo pose an existential threat to Adobe’s creative image and video subscription software.
IBM closed below $213 last week, down by 27.29%. The firm warned that second-quarter revenue weakened as customers spent less. To catch up to the AI boom, they bought storage, memory, and server hardware.
Investors will likely avoid software and consulting firms like IBM. If infrastructure suppliers also perform poorly, they will drag IBM stock down with them. The top software infrastructure stocks include Palantir (PLTR), Palo Alto Networks (PANW), Microsoft (MSFT), and Oracle (ORCL).
