Nasdaq Sheds 1.15% as Tech Rotation Fades; SoFi, Moderna Buck Trend

Major U.S. indexes finished mixed Tuesday. The Dow added 0.6% to 51,999.67. The S&P 500 slipped 0.57% to 7,511.35. The Nasdaq Composite dropped 1.15% to 26,376.34, its sharpest daily decline in three weeks.

The tech-heavy index’s slide was led by two former high-growth names. Netflix fell 3.61%, closing at $78.72 after reports that the company lost the bidding war for Roku to Fox. Fox offered $22 billion in cash and stock, according to people familiar with the process. Netflix had also been circling Warner Bros. Discovery and Lionsgate Studios, the reports said. Separately, "Big Short" investor Michael Burry posted a cryptic warning about market excess on X, stoking concerns about stretched valuations in the streaming and media space. Netflix’s Momentum score sits in the 8th percentile on Benzinga Edge, a metric that points to fading buying interest.

Snap dropped 9.63% to $5.16, the steepest fall among the five. CEO Evan Spiegel appeared at AWE USA 2026 to promote the company’s premium AR glasses, Specs. The crowded augmented-reality market – led by Meta and Apple – and Snap’s own financial challenges put pressure on the product to deliver revenue quickly. Snap has not said when Specs will ship or at what price.

Three stocks bucked the tech selloff.

SoFi Technologies rose 3.39% to $17.71 and added another 1.98% in extended trading to $18.06. The fintech company expanded access to SoFiUSD, a U.S. dollar-backed stablecoin now available to nearly 15 million members through its banking app. Investors read the move as a deeper integration of digital-asset services into SoFi’s lending, banking, and investment suite. The company has been pushing to raise customer engagement and membership cross-sell. SoFi carries an Alpha Score of 26 out of 100, a Weak label on AlphaScala’s model, reflecting the gap between its growth narrative and current profitability.

Moderna surged 6.27% to $55.40, its highest close in three months. The biotech said it is preparing for up to three new vaccine launches in 2027 and 2028: a flu-COVID combination, a seasonal flu shot, and a norovirus candidate. It also outlined upcoming clinical milestones for cancer and rare-disease programs that could generate the company’s first oncology and rare-disease products. President Stephen Hoge took on expanded oversight of R&D, manufacturing, and commercial operations as part of a restructuring. Moderna’s Alpha Score of 46 places it in Mixed territory, a sign that the pipeline has upside but the near-term revenue path remains uncertain.

Our Bond AI skyrocketed 107.63% to $1.11 before giving back 15% in after-hours trade. The micro-cap stock surged after announcing debt restructuring deals. Ascent Partners Fund converted roughly $3.3 million of promissory note debt into newly created preferred equity at a conversion price of $2.0265 per share – a premium of more than 200% to the stock’s recent trading price. The company also struck a deal with Eastward Fund Management to defer nearly $1 million in debt repayments from 2026 to 2027. Management said the moves reduce debt liabilities and give the company flexibility to restructure sales operations. The after-hours pullback suggests traders are questioning whether the rally priced in the dilution from the preferred conversion.