Monday’s pre-market session sees a strong rally in memory stocks, semiconductor names and “neo cloud” trading.
SanDisk (SNDK) and Micron Technology (MU) rose about 3% after falling as much as 14% and 6%, respectively, on Thursday.
Meanwhile, neo cloud names including IREN (IREN) and Cipher Digital (CIFR) are each up about 4% as investors buy the dip following Wednesday and Thursday’s double-digit selloff.
The price action highlights the continued rotation of capital between high momentum AI and semiconductor trading and cryptocurrency-related assets. As money returns to AI and semiconductor stocks in premarket trading, Bitcoin has fallen more than 1%, falling below $63,000.
