Shares of blockchain infrastructure company Coinbase (NASDAQ:COIN) fell 7.4% in the afternoon session after crypto linked stocks pulled back, as the price of Bitcoin, a key cryptocurrency, declined. The stock's movement was tied to the broader cryptocurrency market, as the price of Bitcoin fell. As a major crypto exchange, Coinbase's fortunes are often linked to the performance and sentiment surrounding digital assets. The drop in Bitcoin's value signaled weakness in the crypto space, which in turn weighed on shares of companies like Coinbase, whose business relies on trading activity and interest in cryptocurrencies.
Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 2% in the afternoon session after market sentiment towards its robotaxi service improved amid a strategic shift in its supply chain.
Shares of department store chain Dillard’s (NYSE:DDS)
fell 5.1% in the afternoon session after negative analyst sentiment weighed on the stock, with reports highlighting a consensus "Sell" rating. The collective view from analysts covering Dillard's pointed to a potential 37.42% decrease in the stock price over the next year, based on an average price target of $397.33. This bearish outlook was underscored by a recent report from UBS, which maintained its "Sell" rating on the company. UBS set its price target at $184.00, which was the lowest among analysts and was significantly below the stock's recent trading levels. This widespread pessimism from financial analysts likely fueled investor concerns about the company's future performance.
Shares of telehealth company Hims & Hers Health (NYSE:HIMS) fell 4.9% in the afternoon session after news of increased competition in the weight-loss drug market overshadowed the company’s own positive announcements.
Shares of telecommunications company Dycom (NYSE:DY)
jumped 2.1% in the afternoon session after a Wells Fargo analyst raised the price target on the stock, while maintaining a positive rating.
Shares of online used car auction platform ACV Auctions (NASDAQ:ACVA) jumped 5.1% in the afternoon session after a director, Brian Hirsch, reported a significant open-market purchase of company stock.
Shares of airline company United Airlines Holdings (NASDAQ:UAL)
fell 3.2% in the afternoon session after Wolfe Research lowered its price target on the stock, adding to underlying concerns about soft passenger demand.
Shares of AI lending platform Upstart (NASDAQ:UPST) fell 4.9% in the afternoon session after investor concerns grew over a weakening credit environment that affected the broader fintech sector.
Shares of footwear company Crocs (NASDAQ:CROX)
jumped 6.4% in the afternoon session after the company announced a key leadership change, promoting Rupert Campbell to Executive Vice President and President of its HEYDUDE brand.
2025 has been quite the year for consumer brands, but not in a good way. The industry has underperformed for the past three years and many of the world's largest consumer brand companies are resorting to mergers & acquisitions, asset sales, and spin-offs to rejuvenate their prospects.
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