SanDisk's stock price plummeted 10% due to industry factors, while Gate SNDK contract trading volume and open interest ranked among the top across the entire network.
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Opinion: Despite weak stock performance, the AI industry "still revolves around Nvidia".
According to BlockBeats, on July 7th, CNBC stock commentator Jim Cramer stated that despite recent weakening market sentiment towards Nvidia and continued pressure on its stock price, Nvidia remains the core of the AI industry. He believes the current market sell-off of Nvidia is excessive, with its forward price-to-earnings ratio falling to near its lowest level this year. He pointed out that while some companies, including the Chinese AI company DeepSeek, are developing their own AI chips, they still heavily rely on Nvidia technology, and he has not seen any indication that Nvidia will lose its industry-leading position. Furthermore, he stated that some investors recently sold Nvidia stock to free up funds for other technology stocks, including the recently listed SpaceX.
Jack Mallers' Strike has launched "volatility-resistant" Bitcoin mortgage loans, claiming they will not be liquidated due to price drops.
ChainCatcher reports that Strike, founded by Jack Mallers, has launched a new Bitcoin-backed loan product designed to avoid forced liquidation due to falling BTC prices. Strike states that as long as borrowers make timely payments, the collateralized BTC will not be moved or liquidated, regardless of how deeply the Bitcoin price falls. Mallers stated on X that the product has no margin requirements and no price-based liquidation mechanism, allowing users to borrow USD while continuing to hold Bitcoin. He noted that volatility is inevitable, but liquidation is not. Strike states that the new loan product eliminates price-triggered actions linked to the loan-to-value (LTV), so borrowers do not need to worry about automatic liquidation due to falling BTC prices. As long as interest and due payments remain normal, the collateral will remain undisturbed.
At the opening of the US stock market, the Dow Jones Industrial Average rose 0.09%, while the Nasdaq Composite Index fell 0.6%.
According to Mars Finance, Gate.com data shows that at the opening of the US stock market, the Dow Jones Industrial Average rose 0.09%, the S&P 500 fell 0.22%, and the Nasdaq Composite fell 0.6%. Chip stocks continued their pullback, with SanDisk down 6.5%, Western Digital down 6.7%, and Micron Technology down 6.07%. SpaceX was officially included in the Nasdaq 100 index today, and its stock price fell 1.7%.
Both WTI and Brent crude oil prices fell by about $1 in the short term, while spot gold rose by about $20 in the short term.
According to Odaily data, WTI and Brent crude oil prices fell by about $1 in the short term, while spot gold rose by about $20. In terms of news, Trump did not reiterate his intention to terminate the interim agreement with Iran during the NATO summit.
U.S. chip stocks fell broadly in pre-market trading, with SanDisk (SNDK.O) down 6.3%.
According to data from Odaily Odaily, US chip stocks generally fell in pre-market trading. Arm (ARM.O) fell 3.8%, SanDisk (SNDK.O) fell 6.3%, and Qualcomm (QCOM.O) fell 2.2%. Nvidia (NVDA.O) fell 1.9%, Micron Technology (MU.O) fell 5%, AMD (AMD.O) fell 2.5%, and Intel (INTC.O) fell approximately 5%.
In pre-market trading on the US stock market, semiconductor, memory, and optical communication sectors continued their decline, with Micron and SanDisk both falling by more than 5%.
According to Mars Finance, on July 8th, based on BIT (bit.com) market data, semiconductor stocks generally fell in pre-market trading in the US. Marvell Technology (MRVL) fell 4.46%, Arm (ARM) fell 3.51%, Intel (INTC) fell 3.47%, Lam Research (LRCX) fell 3.11%, and Applied Materials (AMAT) fell 2.85%. The memory sector saw the largest declines, with SanDisk (SNDK) falling 5.59%, Micron Technology (MU) falling 5.28%, Western Digital (WDC) falling 4.53%, and Seagate Technology (STX) falling 4.19%. Optical communication concept stocks also came under pressure, with Astera Labs (ALAB) down 4.57%, Applied Optoelectronics (AAOI) down 4.47%, Credo (CRDO) down 4.42%, Corning (GLW) down 4.22%, Ciena (CIEN) down 3.69%, and Coherent (COHR) down 3.44%.