Friday close
$136.97
▲ 2.22%
Week-2.16%
Vs. $135 IPO+1.46%
Volume78.81M
Preliminary market value: about $1.86T, based on an estimated 13.57B basic shares after the Cursor issuance. Excludes later share changes, options and unvested awards.
SpaceX Stock Closes at $136.97 as Share Unlock and Three Launch Windows Shape the Week Ahead
Space Exploration Technologies Corp. enters the week near its IPO price, despite a fast launch tempo and surging quarterly sales. Friday's rebound recovered only part of Thursday's 4.05% drop. The market is closed Saturday.
SpaceX · NASDAQ:SPCX
Launch pace meets share supply
Friday's rebound left the stock near its IPO price. Investors now face a larger eligible float, two Tuesday Starlink windows and NASA's Roman mission target.
Market closed
Data: Aug. 21, 2026 · 4:00 p.m. EDT
Data: Aug. 21, 2026 · 4:00 p.m. EDT
Price map
Current price sits close to the IPO anchor
From record low +30.66%Below record high -39.30%
Float pressure
Eligibility ≠ selling
319M
shares became eligible on Aug. 20
Aug. 6 tranche~912M
Thursday move-4.05%
The timing overlapped Thursday's decline, but public data do not establish how many unlocked shares were sold.
Catalyst calendar
Three missions define the next eight days
AUG 25
Starlink 10-49 · Florida
Primary 05:49–10:32 UTC
Backup Aug. 26Primary 05:49–10:32 UTC
AUG 25
Starlink 15-22 · California
Primary 09:42–14:25 UTC
Backup Aug. 26Primary 09:42–14:25 UTC
AUG 30
NASA Roman · Falcon Heavy
No earlier than 11:26 UTC
Review completeNo earlier than 11:26 UTC
Launch windows are operational targets and can change. No SpaceX earnings event was identified for Aug. 24–28.
Q2 revenue engine
$7.81B total revenue · +91.9% year on year
Operating result · Space -$0.54B · Connectivity +$1.66B · AI -$1.26B
Adj. EBITDA$3.54B
Net loss$0.54B
Capex$18.37B
Analyst tracker
$220.20 +60.8%
Average target in one 41-rating tracker
2 Strong buy25 Buy8 Hold6 Sell
Low target $75High target $800
The wide range signals high valuation uncertainty. Vendor coverage and methods can differ.
What can move SPCX next
- Execution: Tuesday launch timing and booster recovery.
- Supply: trading around newly eligible shares.
- Starship: no official Flight 14 date yet.
- Economics: Starlink ARPU fell 22% year on year.
- Capital: Q2 capex exceeded quarterly revenue.
- Weather: every listed launch window can slip.
SELLAS Shares Gain $416 Million With REGAL Trial Approaching Final Analysis
SELLAS Life Sciences Group, Inc. ended Friday at $15.46, marking a 15.4% increase. Based on its share count as of June 30, the gain represents an approximate $416 million boost in market capitalization. The figure is provisional, as the number of outstanding shares may have varied since the end of the quarter.
NASDAQ:SLS · Weekend investor dashboard
$416M added without new company data
SELLAS' rally now rests on an event-driven Phase 3 survival readout. Cash is meaningful, but it explains only 4.4% of market value.
Market closed · Data through August 21, 4:00 p.m. EDT
Friday close
$15.46
+15.4% · 2.6% below 52-week high
Estimated value added
$416M
Friday · June 30 share count
Market capitalization
$3.12B
22.6× reported cash
Cash
$138.3M
June 30 · 4.4% of market value
Three-week repricing
SLS gained 54.4% across three consecutive winning weeks.
Valuation split
What Friday's equity value represents
No product revenue was reported for the first half of 2026.
The binary center
REGAL is event-driven; the date cannot be fixed.
Success path
Statistically significant, clinically meaningful survival could support a potential BLA filing.
Failure path
A missed survival endpoint would remove the main late-stage pillar beneath valuation.
127 patients
Actual enrollmentRandomized Phase 3 AML maintenance study
80th death
Final-analysis triggerDatabase lock, review, unblinding, topline disclosure
Cash came with dilution
Six months ended June 30, 2026
Oncology momentum and analyst expectations
Weekly stock moves use August 14–21 closes. Targets are current S&P Global consensus data.
| Company | Weekly move | Consensus | Analysts | Average target | Implied return |
|---|---|---|---|---|---|
| Moderna · NASDAQ:MRNA | +129.2% | Hold | 23 | $91.39 | -37.0% |
| SELLAS · NASDAQ:SLS | +21.0% | Buy | 2 | $32.50 | +110.2% |
| Merck · NYSE:MRK | +12.3% | Buy | 28 | $147.77 | -3.1% |
| ImmunityBio · NASDAQ:IBRX | +2.9% | Strong Buy | 4 | $12.75 | +63.7% |
Next checkpoints
Event-driven
REGAL 80th eventNo fixed announcement date
Q4 2026
SLS009 topline dataFront-line AML study
Upcoming
Pancreatic preclinical dataMedical conference planned
Risk lens
REGAL could miss its survival endpoint or face regulatory demands for more evidence. SLS009 remains early. Warrant exercises and future equity sales can dilute holders. A reversal in cancer-vaccine sentiment could erase gains before company-specific data arrive.
Stock data: August 21, 2026, 4:00 p.m. EDT. Dashboard status: August 22, 2026, 6:24 a.m. EDT. Sources: SELLAS SEC filings; ClinicalTrials.gov; Yahoo Finance; StockAnalysis. Peer programs differ in platform, indication and stage.
USA Rare Earth Stock Jumps 13%—The August 28 Vote Is the Next Test
USA Rare Earth, Inc. jumped 12.57% on Friday. The close was $19.26, on about 21.2 million shares traded. Yet the stock remained below its $20.00 close one week earlier. The late rebound restored momentum, not proof.
NASDAQ: USAR · investor dashboard
USA Rare Earth
Mine-to-magnet ambition meets a near-term transaction test
Market data: Aug. 21, 2026, 4:00 p.m. EDT
U.S. market closed
U.S. market closed
Friday close
$19.26
Nasdaq
Daily move
+12.57%
$17.54–$19.54 range
Weekly move
−3.7%
vs. Aug. 14 close
Equity value
≈$4.7B
Friday price × recent shares
Six-session price path
Friday's rebound was sharp, but the stock finished below the prior Friday.
Next catalyst
Aug. 28 shareholder vote
Final stated condition for the Serra Verde combination; closing expected shortly afterward.
Deal cash$300M
New USAR shares126.849M
New shares / current count≈52%
Liquidity versus buildout
Cash at June 30$1.53B
H1 operating cash use$75.3M
H1 capex + deposits$108.4M
H1 cash deployment / June cash
About 12%; funding strength is real, but federal disbursements remain milestone-based.
Commercial proof
Q2 revenue$5.82M
Q2 gross result−$1.58M
Q2 adjusted net loss−$33.48M
Stillwater Q4 run-rate target600 mtpa
The valuation depends on converting capacity plans into qualified customer shipments.
Analyst recommendations
| Firm | View | Target |
|---|---|---|
| Benchmark | Buy | $45 |
| Northland | Buy | $45 |
| Cantor Fitzgerald | Overweight | $40 |
| Canaccord | Buy | $32 |
| Roth MKM | Buy | $30 |
Eight-analyst average: $37.38, roughly 94% above the Aug. 21 close.
Investor scorecard
Strategic demandStrong
LiquidityStrong
Operating proofEarly
Dilution riskHigh
Near-term triggerVote / close
Sources: Yahoo Finance market data; USA Rare Earth Q2 2026 release and Serra Verde transaction announcement; StockAnalysis/S&P Global analyst data. Company production and EBITDA figures are targets, not realized results.
XRP Advances 56% After $13 Million ETF Inflow and $16 Billion Market Shift
XRP jumped 56.3% in a week, outstripping gains from other major tokens. The rally boosted its market capitalization by around $16.2 billion within 24 hours.
XRP investor monitor
A $16 billion repricing on $13 million of ETF flow
XRP led major tokens, but regulated fund demand was too small to explain the move. Liquidity, leverage and policy expectations did more work.
Aug 22, 2026 · 08:58:30 CEST
XRP price
$1.57
+19.7% · 24 hours
Range: $1.30–$1.69
Seven-day move
+56.3%
Best of four majors
BTC gained 22.9%
Market value
$98.5B
+$16.2B · 24 hours
Ranked No. 4
XRP ETF flow
$13.24M
Aug 20 net inflow
Only 0.08% of cap gain
Seven-day performance
XRP outperformed bitcoin by 33.4 percentage points.
Flow versus repricing
1:1,221
ETF inflow versus market-value gain
Institutional target map
$1.30 low
$1.57 now
$2.80 target
$3.65 ATH
Standard Chartered: $2.80Implied upside: 78%Target cut: 65%
The target implies roughly $176B of market value at current circulating supply.
Liquidity stress gauge
Week-ahead checks
ETF confirmationDoes XRP flow rise materially above $13.24M?
Relative strengthCan XRP retain its 33.4-point lead over BTC?
Policy deliveryWatch concrete market-structure action, not settlement rumors.
Sources: CoinGecko (08:58:30 CEST, Aug 22); Decrypt/SoSoValue (Aug 20 ETF flows); CFTC; SEC litigation release; Standard Chartered target reported by Forbes. Calculations use unrounded figures where available.
BP Shares Rise Ahead of Rivals as Brent Surge Fuels Debt Recovery
LONDON, August 22, 2026, 05:05 BST — BP p.l.c. advanced 5.09% this week, outpacing four major oil groups, as Brent crude rose 6.39%. The jump indicates investors anticipate rising oil prices will speed up BP’s efforts to reduce debt.
BP p.l.c. · LON:BP
Oil rally meets debt repair
BP led a five-company oil-major peer set this week. The equity is trading like a leveraged deleveraging story, with Brent and balance-sheet execution as the two decisive inputs.
549.5p−0.49% Friday
Five-day return+5.09%Peer-set leader
Brent weekly move+6.39%$94.39/bbl settlement
Q2 net debt$22.25bn−12.1% quarter on quarter
Market value£85.33bnTop UK value traded
Five-day performance
Investor read-through
Oil-price captureBP’s weekly gain divided by Brent’s weekly gain.
Upside: elevated crude can fund faster debt reduction.
Check: Friday’s decline shows some oil premium is priced.
Q2 financial bridge
Week-ahead map
Bull · Brent stays above $90
Cash-flow expectations firm. BP’s balance-sheet sensitivity keeps relative momentum intact.
Base · Oil consolidates
Shares digest a 5.09% week. Peer-relative performance becomes the cleaner signal.
Bear · Geopolitical premium fades
Brent reverses. BP’s higher commodity torque becomes a downside amplifier.
Market data: London close, Friday, August 21, 2026, 16:30 BST. Brent: Friday settlement, August 21, 2026. Equity returns and market value from TradingView/FactSet; oil settlement from Reuters. BP financials are company-reported Q2 2026 figures. Percentages may reflect rounding.
Boeing Shares Drop 7.5% After 17,000 Workers Set October 7 Strike Vote Date
Boeing faced a fresh labor deadline after about 17,000 engineers and technical staff turned down a proposed four-year contract and voted to strike. Shares finished Friday at $214.20, marking a 7.5% drop from the previous week’s close.
NYSE: BA · Investor dashboard
Boeing’s October labor clock
Market closedStrike authorizedQ2 cash positive
Price: August 21, 2026, 4:00 p.m. EDT
Dashboard: August 22, 2026, 04:05 CEST
Dashboard: August 22, 2026, 04:05 CEST
Friday close
$214.20
−0.42% Friday
Weekly move
−7.54%
From $231.67
Estimated value lost
$13.8B
789.8M shares
Consensus target
$274.85
+28.3% implied
One-week price path
Fri, Aug 14Mon, Aug 17Fri, Aug 21
Investor hinge: no immediate walkout. The risk concentrates around engineering and certification work if talks fail before October 7.
Labor vote
Engineers rejecting
64%
Technical workers rejecting
72%
Represented workforce
~17,000
Q2 operating recovery
MetricQ2 2026YoY
Revenue$24.56B+8%
Commercial deliveries171+14%
Operating cash flow$1.36B+$1.14B
Free cash flow$631MPositive
Total backlog$715BRecord
What comes next
Vote rejectedEarliest strike
Aug 21Oct 7 · 47 days
Watch for bargaining dates, a member survey and any change to Boeing’s contingency plan.
Risk: a revised agreement may remove the discount. Failed talks could pressure certification schedules and delivery-linked cash.
Sources: Boeing Q2 2026 results; Reuters; Wall Street Journal; MarketWatch; Investing.com. Estimated equity-value loss uses 789.8 million June-quarter shares. Analyst upside is recalculated from the $214.20 close.
MP Materials shares surge 9% after Pentagon secures rare-earth revenues
MP Materials Corp. surged 9.14% on Friday, recouping much of its losses from earlier in the week. The stock ended the day at $60.07, close to its session peak of $60.59.
NYSE: MP · Investor dashboard
MP Materials
Market data: August 21, 2026, 7:11 p.m. EDT
U.S. market closed
U.S. market closed
Friday close
$60.07
+9.14% session
Five-session change
+2.26%
From $58.74
Friday volume
8.41M
65% above prior four-day average
52-week range
$37.81–$100.25
40.1% below the high
One-week price path
Q2 policy sensitivity
Core revenue
$108.5M
86.1% of revenue plus support
Price-protection income
$17.6M
13.9% of combined proceeds; 61.7% of adjusted EBITDA
Operating momentum
| Q2 metric | 2026 | YoY |
|---|---|---|
| Revenue | $108.5M | +89% |
| Adjusted EBITDA | $28.5M | +$41.0M |
| NdPr production | 840 MT | +41% |
| NdPr sales | 1,006 MT | +127% |
| REO production | 11,072 MT | -16% |
Analyst map
| Measure | Value | Vs. close |
|---|---|---|
| Low target | $58.00 | -3.4% |
| Average target | $75.38 | +25.5% |
| Median target | $75.00 | +24.9% |
| High target | $100.00 | +66.5% |
| Consensus | Strong Buy | 18 analysts |
13 Strong Buy5 Buy0 Hold/Sell
Investor read-through
Friday's 9.14% rebound left MP only 2.26% higher for the week. The operating case is improving, but the earnings bridge remains policy-sensitive: Q2 price-protection income equaled nearly two-thirds of adjusted EBITDA.
Next checkpoints
Rare-earth trade policy
Independence magnet qualification
10X construction progress
Follow-through after high-volume rally
Sources: Nasdaq market data; MP Materials Q2 2026 results; S&P Global analyst data via StockAnalysis, last updated August 19, 2026. Adjusted EBITDA is non-GAAP. Percentages are calculated from reported figures and may vary slightly due to rounding.
Dogecoin Surges 31% in a Week as Coinbase’s Trading Revenue Faces a Test
Dogecoin jumped following a White House crypto meeting that revived expectations for more transparent U.S. market regulations. The meme coin’s sharp rally now serves as a real-time gauge for Coinbase Global, Inc., which saw its shares rise 8.2% on Friday.
DOGE × COIN · Investor dashboard
The meme-coin rally has reached listed equities
Dogecoin led Bitcoin over the past week, while Coinbase finished Friday 25.6% above its August 14 close. The next signal is turnover: lasting volume can help transaction revenue; a fast price reversal cannot.
U.S. market closed
DOGE price
$0.09255
6:31 p.m. EDT · Aug. 21, 2026
DOGE · 24 hours
+13.8%
24-hour volume: $1.76 billion
COIN close
$186.49
+8.2% at 4:00 p.m. EDT · Aug. 21
COIN after hours
$189.15
+1.4% at 6:33 p.m. EDT · Aug. 21
COIN climbed 25.6% in five sessions
Regular-session closesAug. 14 base: $148.47Aug. 21 close: $186.49
Why DOGE matters to COIN
Coinbase says 88% of net revenue comes from outside Bitcoin spot trading. An altcoin-led burst can therefore reach its fee pool directly—but only when price momentum brings durable customer volume.
DOGE 7-day: +31.0%BTC 7-day: +24.9%ETH 7-day: +33.8%COIN 5-session: +25.6%
Q2 left room for a volume rebound
| Operating marker | Q2 2026 | Read-through |
|---|---|---|
| Transaction revenue | -21% q/q | Trading softness was visible |
| Trading-volume share | 10.3% | Record; up from 9.1% |
| Subscription/services mix | 48% of net revenue | Buffers fee volatility |
| Adjusted EBITDA | 14th positive quarter | Cost discipline held |
Wall Street is positive—targets are tight
| Buy / Hold / Sell | 22 / 9 / 3 |
|---|---|
| Consensus | Buy |
| Average target | $195.52 · 4.8% above close |
| Median target | $185.00 · 0.8% below close |
| Low / High | $95 / $330 |
The average still points higher. The median does not. Friday's rally has used much of the central-case upside.
What can break the setup
Weekend reversalCrypto trades continuously; a sharp DOGE drop can reset Monday's equity open.
Volume fadesPrice gains without customer turnover do little for transaction fees.
Policy delayThe Clarity Act remains legislation, not operating law.
Valuation pressureThe median analyst target sits just below Friday's close.
Data: CoinGecko, 6:31 p.m. EDT on Aug. 21, 2026; Nasdaq, 4:00 p.m. and 6:33 p.m. EDT on Aug. 21, 2026; Coinbase Q2 results; StockAnalysis analyst consensus. Crypto prices can change after the stated snapshot.
Applied Optoelectronics Shares Fall in Late Trading as Company Launches $600 Million ATM to Expand Fundraising
Shares of Applied Optoelectronics, Inc. fell 10.2% to $112.11 in late Friday trade. The decline came after the company announced a new $600 million at-the-market stock offering following the market close.
NASDAQ: AAOI · Investor snapshot
Fresh $600M ATM meets a fragile tape
Applied Optoelectronics, Inc. · U.S. market closed Friday, August 21, 2026
AFTER HOURS · 6:25 p.m. EDT
Regular close
$124.82
-3.32% Friday
Closed August 21 at 4:00 p.m. EDT.
After hours
$112.56
-9.83% vs. close
Nasdaq last sale at 6:25 p.m. EDT. Extended-hours prices can be thin.
New ATM capacity
$600M
Raymond James and Needham may sell shares over time. AOI is not required to use it.
2% sales commissionImplied share supply
4.81M
At Friday's close, equal to 5.7% of the 84.91 million shares outstanding on August 20.
Six-session price path
-16.9%Aug. 14 close to Aug. 21 close
$154.89Week's highest close
$109Lowest analyst target
Aug 14Aug 17Aug 18Aug 19Aug 20Aug 21
Why the equity matters
Gross ATM sales since March, before new program$1.10B
Cash + restricted cash, June 30$508.8M
First-half capital expenditure$335.1M
First-half investing cash use$633.7M
First-half operating cash use$73.8M
The balance sheet is liquid, but capacity expansion consumes cash quickly. The new authorization is 1.18× June cash plus restricted cash.
Q3 revenue bridge
Midpoint implies 42.0% sequential growth. Management says demand may exceed capacity through mid-2027.
Analyst target spread
Consensus: Buy from six analysts. Three were Holds. Targets were last updated before the ATM filing.
Prospectus math
Assumed offering price$129.10
Historical tangible book value$19.72/share
Adjusted book value after full raise$26.20/share
Illustrated buyer dilution$102.90/share
The SEC illustration is mechanical, not a forecast. Actual prices and issued shares will vary.
Monday setup
Growth case
Equity funds the 800G and 1.6T ramp. Q3 revenue reaches or exceeds the $272.5 million midpoint.
Base case
AOI sells gradually. Investors weigh added capacity against a persistent supply overhang.
Risk case
Weak pricing forces more shares into the market while production delays or customer timing slow the ramp.
Sources: August 21 Form 8-K, prospectus supplement, Q2 Form 10-Q, company Q2 release, S&P Global analyst data via StockAnalysis, and Nasdaq market data. Calculations use displayed figures and may differ due to rounding.
Risk watch: share issuance pace · capacity execution · customer concentration · margin mixMarket snapshot: August 21, 2026, 6:25 p.m. EDT
Critical Metals Shares Surge 23%, $7.11 Finish Holds Merger Ratio to Cap
Shares of Critical Metals Corp. jumped 22.6% on Friday. The stock, however, closed at $7.11, remaining under the important $8 merger benchmark. As a result, the exchange ratio would remain at its maximum level if calculated at this price.
NASDAQ: CRML · Deal mechanics
Rally meets the ratio floor
Market data as of August 21, 2026, 16:00 EDT
$7.11+22.6% Friday
Friday volume
16.18M
2.72× prior 20-day average
Weekly return
+6.8%
From August 14 close
Market value
$1.04B
146.9M shares × $7.11
Distance to floor
−11.1%
Friday close versus $8
Amended exchange-ratio corridor
$7.11 keeps the illustrative ratio at 0.045
Friday closeMaximum ratioMinimum ratio
Illustrative ordinary-share issue
17.3M extra shares versus old deal
Increase
+28.6%
Current shares
11.7%
incremental issue as a share of current CRML stock
Latest analyst recommendations
Targets span $8 to $18
| View | Rating | Target | Upside |
|---|---|---|---|
| Freedom | Hold | $8 | 12.5% |
| S&P consensus | Hold | $13 | 82.8% |
| Cantor | Spec. Buy | $18 | 153.2% |
Execution calendar
Deal milestones arrive before project cash flow
Early Sep 2026Scheme booklet expected
Oct 2026Targeted implementation
Q4 2028–Q1 2029First ore target
Q3 2029Concentrate exports target
Risk check: Votes, court approval and the $330M cash condition remain. Permitting, financing and construction delays could shift Tanbreez economics. Options, rights and the final VWAP can change fully diluted ownership.
Investor read-through
The rally narrows the gap. It does not remove the maximum-ratio risk.
The actual exchange ratio uses a 20-trading-day Nasdaq VWAP ending two trading days before the scheme meeting. Friday's figures are preliminary illustrations based on European Lithium ordinary shares only.
Sources: Critical Metals SEC Form 6-K and amended scheme deed filed August 21, 2026; Critical Metals company announcements; Yahoo Finance market data; Freedom Broker, Cantor Fitzgerald and S&P Global analyst aggregation. Values rounded.
Moderna Shares (NASDAQ:MRNA) Finish Landmark Week, Surging 70% Over Wall Street Consensus
Moderna, Inc. closed its most turbulent week since the pandemic at $145.13. The stock rose 8.86% on Friday, following two days of sharp gains and losses. After-hours trading added a further 0.43%, bringing shares to $145.75.
Moderna · NASDAQ:MRNA
Endpoints met.
The valuation ran ahead.
Official close: August 21, 2026, 16:00:01 EDT
Nasdaq · U.S. dollars
Nasdaq · U.S. dollars
Friday close
$145.13▲ 8.86%
Day range $132.42–$159.47 · Volume 86.74M vs. 15.08M average
15-analyst average target
$85.46
41.1% below Friday's close
Consensus: 2 Buy · 12 Hold · 1 Sell
Since Tuesday+130.5%
$62.96 before the readout to $145.13 Friday.
Equity value added≈$32.81B
$82.17 per share × 399.24M shares.
Current market cap$57.94B
About 8.4× June cash and investments.
June liquidity$6.90B
Before the $950M litigation payment made in July.
Three-session repricing
Analyst target map
Bank of America · Alec StranahanHOLD $170
UBS · Michael YeeHOLD $150
RBC Capital · Luca IssiHOLD $130
Goldman Sachs · Salveen RichterHOLD $120
J.P. Morgan · Jessica FyeSELL $77
Only Bank of America's $170 target sits clearly above Friday's close. UBS's $150 target leaves 3.4% upside.
What the market has—and has not—seen
INTerpath-001 enrolled 1,137 melanoma patients and met recurrence-free and distant-metastasis-free survival endpoints. No new safety signal emerged. The full Phase 3 hazard ratios, confidence intervals, subgroup results and overall-survival data remain undisclosed. Investors have added $32.81 billion of equity value without the effect size.
Next proof points
- Full data at an international medical meeting
- Regulatory filing timeline
- Manufacturing economics for personalized doses
- Success beyond melanoma across nine Phase 2/3 studies
- 50/50 profit split with Merck
Risk: the price can reverse if detailed efficacy, safety or regulatory timing falls short of the expectations embedded in the rally.
Sources: Google Finance · Phase 3 release · SEC Q2 filing
SELLAS Shares Climb 15% as Market Values Company $2.98 Billion Over Cash Pre-AML Update
SELLAS Life Sciences Group, Inc. climbed 15.37% on Friday, ending the session at $15.46 — just 2.6% shy of its 12-month peak. The surge lifted the market capitalization of the clinical-stage biotech firm to $3.12 billion.
NASDAQ:SLS · Investor dashboard
Almost all value sits in the pipeline
Market snapshot: August 21, 2026 · 16:33 EDT
Regular session closed
Regular session closed
Closing price
$15.46
▲ 15.37% Friday
Market value
$3.12B
Near the yearly high
Cash
$138.3M
June 30, 2026
52-week high gap
−2.6%
High: $15.88
Friday's risk-on move
SELLAS
+15.37%
Nasdaq
+0.43%
S&P 500
+0.43%
Volume
1.74×
SLS beat the Nasdaq by 14.94 percentage points.
What backs the valuation?
$2.98B
market value beyond cash
Arithmetic, not formal enterprise value
Two AML catalysts
REGAL Phase 378 of 80 eventsCount reported May 11. Final analysis follows event 80.
ThenLock and unblindBlinded data review precedes the final statistical result.
SLS009 Phase 228 of 80 patientsTopline data targeted for Q4 2026.
No exact REGAL result date has been announced.
Financial runway signals
| Q2 net loss | $9.6M |
| Q2 R&D | $6.3M |
| Cash / share | $0.68 |
| Shares outstanding | 201.9M |
| Share-count growth | +31.9% |
Analyst target range
Friday close$15.46
Maxim$30
Consensus$32.5
Alliance$35
Both named firms carry Buy recommendations.
What matters next week
Primary watch80th eventWould trigger the REGAL analysis process.
Tape risk52-week highOnly $0.42 above Friday's close.
Bull caseSurvival winCould support BLA preparation.
Bear caseBinary missCash supports little of current value.
Investor takeaway
Friday's rally was not a cash story. At $15.46, investors assigned roughly 95.6% of SELLAS's market value to clinical programs, execution and future commercial economics.
Sources: Yahoo Finance market data at August 21, 2026, 16:33 EDT; SELLAS Q2 2026 release and SEC filings; analyst actions dated August 13 and August 17, 2026. Clinical timelines and potential regulatory steps are forward-looking and subject to trial outcomes.
Rivian Shares Surge 6% to Wall Street Target with R1 Incentives Putting Pricing to the Test
Rivian Automotive, Inc. rose 5.97% to $16.96 on Friday. The gain brought the stock within $0.04 of the average 12-month price target from analysts. Increased call-option activity supported heightened trading volumes, GuruFocus reported.
Rivian Automotive · NASDAQ:RIVN
The rally reached consensus.
Execution comes next.
Market data: August 21, 2026, 15:47:29 EDT
U.S. session · prices in dollars
U.S. session · prices in dollars
Share price
$16.96▲ 5.97%
Session range $16.06–$17.15 · Volume 29.89M vs. 24.89M average
Average analyst target
$17.000.2% upside
Friday's close nearly exhausted the consensus target gap.Value added Friday≈$1.38B
Nearly equal to July's net equity proceeds.
July offering$1.317B
Net proceeds from 86.25M shares at $15.50.
Above offer price+9.4%
The follow-on discount has been repaired.
Static liquidity runway8.4 qtrs
$7.163B pro forma liquidity ÷ Q2 free-cash outflow.
Q2: better economics, heavier cash use
Deliveries12,194 · +14% YoY
2026 delivery guide65,000–70,000
Analyst map: wide outcomes
Deutsche Bank · Edison YuBUY $24
Needham · Chris PierceBUY $23
15-analyst aggregateHOLD $17
J.P. Morgan · Rajat GuptaSELL $15
Cantor · Andres SheppardHOLD $8
Investor read-through
Rivian's rally repaired the dilution discount, but it also carried the stock to Wall Street's average target. The next rerating needs operating proof: R2 volume, better automotive gross margin and tighter cash use. Three months of free Adventure Network charging, a $3,000 lease contribution and discounted financing may pull R1 deliveries into Q3. They also test pricing power.
What to watch
- September R1 delivery conversion
- R2 production cadence and mix
- Automotive gross-profit inflection
- Cash burn versus $1.7B–$1.8B capex guide
Runway is a static comparison, not company guidance. Options-led moves can reverse. Incentives, R2 delays or higher working capital could pressure margins and liquidity.
Sources: Google Finance · Rivian Q2 release · Rivian offers
Shares in USA Rare Earth Surge 13% as Market Anticipates Significant Revenue Growth
USA Rare Earth, Inc. rose 13.2% to $19.365 on Friday. By 3:11 p.m., trading volume stood at 17.5 million shares, surpassing the 30-session average by 53%. Despite the rally, the stock remained down 3.2% for the week.
NASDAQ: USAR · investor snapshot
Promise priced ahead of production
A high-beta rare-earth build-out with cash, policy backing and a steep revenue hurdle.
Market data: August 21, 2026
3:11 p.m. EDT (UTC−04:00)
3:11 p.m. EDT (UTC−04:00)
USAR price
$19.365
▲ 13.2% today
Day range$17.54–$19.54
Volume17.5M
1 week−3.2%
Vs 52w high−56.0%
Six-session close / latest trade
Closes: $20.00, $19.29, $18.51, $18.09, $17.11; latest trade $19.365.
Balance-sheet cushion
Cash, June 30$1.53B
Net cash / share$6.24
Share-price coverage32%
Q2 operating cash use$56.9M
Cash helps fund the build, but CHIPS-linked disbursements remain milestone-based.
Valuation hurdle
Equity value≈ $4.74B
Price / TTM sales≈ 360×
2027 sales estimate$676M
Price / 2027 sales≈ 7.0×
2026–2027 sales are preliminary analyst estimates.
Street target band
Low$30+55%
Average$37.38+93%
High$45+132%
Analysts8
ConsensusStrong Buy
Targets are opinions, not guarantees. Upside uses $19.365.
Capital stack
Federal incentivesUp to $277M
Secured loan capacityUp to $1.3B
Texas grantUp to $14.2M
Serra Verde cash consideration$300M
Serra Verde stock consideration126.849M shares
What Friday's rally is pricing
China → U.S. yttrium oxide, July29 tonnes
China → U.S. rare-earth magnets647 tonnes
Serra Verde Phase 1 target6,400 tpa TREO
Stillwater Q4 target600 tpa magnets
The shares rallied as fresh trade data and Brazil's rare-earth build-out refocused attention on non-China supply. That timing is correlation, not proof of causation.
Milestones that can confirm—or break—the thesis
Q3 2026
Targeted Serra Verde closing and leadership handoff preparation.
Q4 2026
Stillwater targets 600 tonnes annual magnet run rate; Round Top feasibility work due.
Q1 2027
Round Top definitive feasibility study targeted for publication.
2028
Blacksburg commissioning and Round Top commercial-production targets.
Risks: transaction delay, milestone-linked funding, dilution, permitting, environmental challenges, commissioning slippage and rare-earth price pressure. Sources: USA Rare Earth Q2 release, U.S. Commerce Department/NIST, Reuters, Associated Press, Yahoo Finance chart data and Stock Analysis. Market data timestamped August 21, 2026, 3:11 p.m. EDT (UTC−04:00).
Fannie Mae Shares Advance Following Executive Departures With $238 Billion Treasury Claim Pending
Shares in Federal National Mortgage Association advanced on Friday despite ongoing upheaval among its top executives. At least 10 senior leaders are departing, The Wall Street Journal reported. Multiple executives learned on Wednesday that their roles were being cut.
OTCMKTS:FNMA · Investor dashboard
Profitable franchise, policy-priced common stock
Market data: August 21, 2026, 13:47:28 EDT
Financial data: quarter ended June 30, 2026
Financial data: quarter ended June 30, 2026
Share price
$6.27
▲ 1.24% intraday
Market value
$7.26B
Only 6.2% of GAAP net worth
Q2 net income
$4.0B
▲ 8.1% versus Q1
Treasury claim
$238B
Effective September 30; 2.04× net worth
The valuation trap
Headline book value does not flow cleanly to common shareholders.
Operating scorecard
| Measure | Q2 2026 | Q1 2026 |
|---|---|---|
| Net income | $4.0B | $3.7B |
| Net revenue | $7.6B | $7.3B |
| Credit-loss provision | $485M | $277M |
| Non-interest expense | $2.1B | $2.2B |
| Net worth | $116.5B | $112.5B |
Street view: wide policy spread
| Firm | View | Target |
|---|---|---|
| B. Riley | Neutral | $7.00 |
| Wedbush | Neutral | $8.00 |
| KBW | Underperform | $8.50 |
| BTIG | Buy | $20.00 |
| 7-analyst aggregate | Hold | $12.25 |
Common-share constraints
$208B capital gapRisk-based adjusted total-capital shortfall, including buffers.
79.9% Treasury warrantPotential fully diluted ownership at a nominal exercise price.
No public dividend capacityConservatorship terms block dividends to common and public preferred holders.
Signals to watch
Executive replacement planSpeed, seniority and mortgage-market experience will indicate operational continuity.
Capital-framework changesAny credible recapitalization path matters more than a single quarter's multiple.
Treasury claim treatmentCommon-equity value depends on dilution and the resolution of the senior preference.
IREN (NASDAQ:IREN) Shares Drop 10% From Session High Amid $1.64 Billion Value Loss
NEW YORK, August 21, 2026, 14:18 EDT — IREN Limited stock slid 10.0% from Friday’s intraday peak, wiping out nearly $1.64 billion in market capitalization as market participants assessed the company’s aggressive AI-cloud growth plans alongside potential execution challenges ahead of next week’s earnings.
Investor dashboard
IREN NASDAQ:IREN
AI-cloud execution meets a high-volatility valuation
$41.33−2.98% intraday
Aug. 21, 2026 · 13:59:49 EDT
Session reversal
−10.0%From $45.93 high to $41.33
Value swing
$1.64bn$4.60 × 357.38m shares
Market cap
$15.31bnObserved intraday
Next catalyst
Aug 27FY26 results · 17:00 EDT
Price position
Analyst stance
$77.89
Average target · +88.5%
High target$100
Low target$50
Sell ratings0
2026 delivery scoreboard
Horizon 1 accepted50 MW
10.4% of the 480 MW gross target
Four Microsoft phases200 MW
41.7% of the 480 MW target
2027 capacity target1.2 GW
2.5× the 2026 target
Funding and valuation
Target AI-cloud ARR>$4.0bn
Market cap / target ARR≈3.8× or less
Preliminary gross cash$7.6bn
Restricted cash$1.7bn
Cash less restricted amount$5.9bn
ARR is a non-GAAP run-rate metric, not reported revenue. Cash figures are preliminary and unaudited at June 30.
Peer tape
- NBIS+0.69%
- IREN−2.98%
- APLD−4.54%
- CIFR−9.36%
Same Aug. 21 intraday observation set
What the market is testing
Contracted demand≈85% of target ARR
New customer contracts$2.8bn total value
Customer prepayments≈45% of related GPU capex
Microsoft anchor$9.7bn / five years
Key risk: commissioning delays, lower utilization or weaker GPU pricing would slow the conversion of contracted capacity into recognized revenue and unrestricted cash.
Infleqtion Shares Soar 10% as Analysts Support Cash-Heavy Quantum Expansion
Infleqtion, Inc. shares rose 9.8% on Friday after new analyst backing and the debut of an expanded Colorado headquarters earlier in the week. The stock was at $13.79 as of 2:18 p.m. EDT, up from its previous close of $12.55 on Thursday.
NYSE: INFQ · investor dashboard
Infleqtion
Quantum computing and sensing · data captured August 21, 2026, 2:18:43 p.m. EDT (UTC-04:00)
$13.79
▲ 9.8% today
Regular NYSE session open
Market value
$3.12B
About 69× revised 2026 revenue guidance
2026 revenue guide
$45.1M
Raised from $43.0M after an accounting timing change
Q2 capital pool
$582M
Cash, restricted cash and securities; no debt reported
Street target
$20.60
Five-analyst average · roughly 49% above snapshot price
Price path · selected closes
One-week move: +7.2%. Session range: $12.67–$14.05. Volume: 9.69 million, near the 30-session average.
What changed in the filing
| Metric | Old | Updated |
|---|---|---|
| Q2 revenue | $12.6M | $13.5M |
| Revenue growth | 116% | 157% |
| GAAP op. loss | $30.6M | $29.9M |
| FY revenue guide | $43.0M | $45.1M |
Read-through: the increase is a non-cash timing shift for two government contracts. It does not represent new demand.
Analyst setup
5 Buy · 0 Hold · 0 Sell
Target range: $19–$22. Citi lifted its target to $22 on August 21.
Execution markers
| 2026 target | 30 logical qubits |
| Illinois system | 2027 deployment |
| Commerce LOI | Up to $100M |
| New headquarters | ~107,000 sq. ft. |
Investor lens
Funded, but proof-heavy
The balance sheet supports the buildout. The valuation still requires technical milestones to become repeatable revenue while losses remain large.
TMC Stock Jumps 20% as NOAA Notice Opens Permit Review
TMC the metals company Inc. climbed 19.5% to $4.745 by 13:22 EDT on Friday. The move followed NOAA's publication of its USA-A consolidated application. Volume reached 12.7 million shares, about 2.4 times the prior 20-session average.
NASDAQ:TMC · Regulatory milestone
Public notice moves the permit clock
TMC the metals company Inc. · U.S. market open
$4.745+19.5% vs prior close
August 21, 2026 · 13:22 EDT (UTC-04:00)
Intraday volume
12.71M
2.4× prior 20-session average
Day range
$4.10–$4.91
19.8% low-to-high span
52-week position
42%
of the $3.40–$11.35 range
Available liquidity
~$143M
Cash plus credit facilities at June 30
20-session share-price path
The late-session spike followed NOAA's publication of the USA-A application.
Permit map
USA-A current area~65,000 km²
Prior recovery scope~25,000 km²
Estimated resource619 Mt
Potential upside+200 Mt
Q2 cost picture
Net loss$60.1M
Exploration & evaluation expense$56.1M
Operating cash use$20.1M
What Friday's move does — and does not — prove
Public noticeComment period
Still required: certification, environmental review, final decision, project funding and commissioning.
Market data are preliminary and timestamped above. Financial and project data: TMC updates dated August 13 and August 19, 2026. Analyst targets are omitted here because provider methodologies conflict. Sources: Yahoo Finance chart feed, TMC investor relations, NOAA.
Denison Mines Stock Rises by $344 Million as Uranium Surge Complements Convertible Deal
Denison Mines Corp. gained nearly $344 million in market capitalization on Friday, an increase close to the sum raised through its convertible-note offering. Shares climbed 12.26% to $3.52 as of 12:33 p.m. EDT.
Denison Mines · NYSE American: DNN
A $344m day meets a $345m financing
Market data: August 21, 2026, 12:33 p.m. EDT (18:33 CEST), during the U.S. session. USD unless marked CAD.
Live market snapshot
$3.52
▲ 12.26% · +$0.38
Market cap$3.20bn
Volume28.40m18.2% above average
52-week high$4.4320.5% away
The number that matters
$343.98mEstimated equity value added Friday. It equals 99.7% of Denison’s $345 million convertible-note principal. The difference is about $1.02 million.
905.22m shares$0.38 gainCalculation, not company guidance
Uranium equity pulse
DNN led the group
Four-peer average: +7.83%. DNN outperformance: 4.43 percentage points.
Convertible-note map
The stock crossed the first threshold
Initial conversion price$2.92+20.5%
Current DNN price$3.52reference
Capped-call price$4.32−18.5%
Principal / net proceeds$345m$333m
Coupon / maturity4.25%Sep. 2031
Phoenix execution board
Full-scale construction is under way
Overall site civil work20%+
Company estimate at late July
Plant and wellfield civil subgradeNearly 100%
Ready for schedule-critical concrete activity
Initial capex: C$600mCamp: nearly 400 peopleFirst production target: mid-2028Phase-one freeze wall started
Analyst view
Targets still point higher
$4.99
S&P Global average target from 14 analysts, last updated July 13. Implied upside from $3.52: 41.8%.
Consensus: Strong BuyLow: $4.15High: $5.82
Canadian actions: RBC Outperform, C$6.00; National Bank Outperform, C$6.50; TD Buy, C$6.50.
What can break the case
Construction cost or schedule slippage
Groundwater and ISR commissioning risk
Sharp reversal in uranium prices
Dilution economics above the capped-call level
Sources: Google Finance, Denison Q2 results, Phoenix construction update, convertible-note terms, and S&P Global consensus via StockAnalysis. Analyst targets are forecasts, not guarantees.
Alibaba Shares Drop by $21 Billion as AI Capex Surges Past New Cloud Revenue by 4.5 Times
NEW YORK, August 21, 2026, 11:40 EDT — Alibaba's market value dropped by $21 billion after it disclosed that its artificial intelligence capital expenditures are now outpacing new cloud revenue at a ratio of 4.5 to 1.
NYSE: BABA
Alibaba's AI spending test
Market snapshot: August 21, 2026, 11:14 EDT
US market open · CNY financial data
BABA price
$121.39
−7.00% intraday
Market value lost
$20.8bn
Preliminary estimate
Cloud growth
+45%
RMB48.44bn revenue
Quarterly capex
RMB67.68bn
+75% year over year
The core mismatch
4.5×
Capex divided by estimated incremental cloud revenue
Share-price range
Post-earnings reset
Previous close$130.53
Friday open$125.35
Intraday low$120.47
52-week range$91.99–$192.67
Quarterly operating scorecard
| Metric | Latest | YoY | Signal |
|---|---|---|---|
| Group revenue | RMB268.95bn | +9% | Top line held |
| Operating income | RMB15.16bn | −57% | Investment drag |
| Net income | RMB10.44bn | −75% | Sharp contraction |
| Operating margin | 6% | −8 pts | Group leverage weakened |
| Cloud EBITA margin | 12% | Expanded | Unit economics improving |
Analyst view
$189.92
40-analyst average target · 56.5% upside
Strong Buy consensus
J.P. Morgan$210 · Buy
Barclays$200 · Overweight
Baird$160 · Outperform
Growth mix
China e-commerce−8%
International e-commerce−1%
AI Cloud and Compute+45%
China quick commerce+45%
Sources: Alibaba June-quarter release; Reuters, August 20, 2026; StockAnalysis/S&P Global and CBOE. Market-value loss uses 2.28 billion shares and the $9.14 intraday decline. Cloud prior-period revenue and related ratios are preliminary estimates derived from reported growth.
TechStock² Updates
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