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Good morning Investors!
TL;DR: Tech futures are in a tailspin as Nasdaq 100 futures drop 2.2% following President Trump’s escalating tariff threats against European partners, overshadowing a massive biotech buyout.
Pre-market data as of: January 20, 2026 at 8:54 AM EST
—Charlie F.
🟢 TOP GAINERS
Rapt Therapeutics (RAPT) - $58.00 | +64.0%
Price Action: Data N/A*
RSI Momentum: Data N/A* ⚖️
Insight: Shares surged to the acquisition price after GSK announced a definitive $2.2 billion cash deal to acquire the company to bolster its inflammation pipeline.
ImmunityBio (IBRX) - $5.52 | +2.0%
Price Action: Data N/A*
RSI Momentum: Data N/A* ⚖️
Insight: Edged higher following a positive FDA Type B meeting regarding its bladder cancer treatment, suggesting a clear path to resubmission without new trials.
Enphase Energy (ENPH) - $35.33 | +1.0%
Price Action: Data N/A*
RSI Momentum: Data N/A* 🐻
Insight: Showing rare relative strength in a sea of red as investors rotate into beaten-down clean-tech names that may be less exposed to immediate import tariffs.
Netflix (NFLX) - $88.58 | +0.7%
Price Action: Data N/A*
RSI Momentum: Data N/A* 🐂
Insight: Holding steady as investors anticipate strong Q4 subscriber growth in today’s post-market earnings report.
ServiceTitan (TTAN) - Price N/A | +0.5%
Price Action: Data N/A*
RSI Momentum: Data N/A* ⚖️
Insight: Designated as a "Top Pick" at Morgan Stanley this morning, with analysts highlighting its dominant position in vertical SaaS and AI automation.
*No Guessing: If specific metrics (like RSI) aren't available, we add "Data N/A" rather than estimating.
🔴 TOP LOSERS
AppLovin (APP) - $505.34 | -11.2%
Price Action: Data N/A*
RSI Momentum: 35.50 🐻
Insight: Leading a broad retreat in software as investors take aggressive profits following reports of softening demand in the AI-driven ad-tech space.
Logitech (LOGI) - Price N/A | -6.0%
Price Action: Data N/A*
RSI Momentum: Data N/A* 🐻
Insight: Downgraded to Underweight at Morgan Stanley, which warns of a "perfect storm" for hardware as enterprise IT spending forecasts hit a 15-year low.
Western Digital (WDC) - $211.50 | -4.5%
Price Action: Data N/A*
RSI Momentum: Data N/A* ⚖️
Insight: Storage hardware is reeling from revised CIO surveys suggesting deep 2026 budget cuts for server and data center infrastructure.
NetApp (NTAP) - $99.37 | -4.3%
Price Action: Data N/A*
RSI Momentum: Data N/A* ⚖️
Insight: Swept up in the broader enterprise hardware de-rating as markets price in a significant cyclical slowdown for non-AI specialized hardware.
Super Micro Computer (SMCI) - $31.32 | -4.0%
Price Action: Data N/A*
RSI Momentum: Data N/A* 🐻
Insight: Selling off on fears that renewed trade friction with China and Europe will disrupt critical component supply chains and raise manufacturing costs.
*No Guessing: If specific metrics (like RSI) aren't available, we add "Data N/A" rather than estimating.
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Quick Guide
Price Action:
Today’s trading activity is X.X times higher than the stock’s average daily activity over the past 30 trading days.
Relative Strength Index (RSI):
🐻 Bearish (0-44) = Weak momentum; Sellers in control
⚖️ Neutral (45-64) = No clear momentum; Rallies tend to fade
🐂 Bullish (55-69) = Buyers in control; Healthy uptrend
⚠️ Overbrought (70+) = Strong momentum but higher pullback risk
It is not enough for artificial intelligence to be productivity enhancing: It needs to boost productivity growth and corporate profits very significantly for current pricing of the overall equity market to be justified.
