According to CNBC, iRobot’s stock plummeted a staggering 72% after the Roomba maker declared bankruptcy over the weekend, with Hong Kong-based Picea set to acquire it through Chapter 11. Immunome surged 20% on positive Phase 3 trial results for its desmoid tumor drug varegacestat. Zillow Group shares dipped 8% on a report that Google is testing showing real estate listings directly in search results. KLA Corp jumped 4% toward a 52-week high after Jefferies raised its price target to $1,500, citing AI-driven spending. Elsewhere, Abercrombie & Fitch rose 6%, Las Vegas Sands and Marriott each gained 2.1% on Goldman upgrades, while Alibaba and Baidu fell 3% and 4% respectively on weak Chinese economic data.
The Big Crash and the Big Win
Let’s start with the absolute carnage. iRobot dropping 72% is basically a wipeout. It’s a brutal but final chapter for a company that defined a category but couldn’t outrun brutal competition and, frankly, maybe a saturated market for high-end robovacs. Declaring bankruptcy over a weekend is a tell-tale sign of a crisis that couldn’t wait. Now, the brand and tech get a lifeline from Picea, but shareholders are left with almost nothing. Talk about a reversal of fortune.
On the complete other end of the spectrum, you have Immunome’s 20% pop. Here’s the thing about biotech: it’s binary. Positive Phase 3 data? Rocket ship. Negative data? Abyss. CEO Clay Siegall’s statement about helping patients “reclaim their lives” is the kind of language that makes investors swoon, because it hints at both clinical success and a blockbuster commercial narrative. One day you’re a question mark, the next you’re a potential buyout target.
The Google-Shaped Cloud Over Zillow
Zillow’s 8% drop is a fascinating one. It’s not about their financials today; it’s pure existential fear. The mere report that Google is testing putting listings directly in search is enough to spook the market. Why? Because it attacks the core of Zillow’s traffic acquisition model. If people can get what they need from the search bar, why click through to Zillow? This is the perpetual anxiety for any “middleman” information aggregator on the web. Google giveth traffic, and Google can very, very easily taketh away.
AI Chips, China, and Market Rotations
The moves in KLA and the Chinese stocks tell two different macro stories. KLA’s rise on that Jefferies note is a direct feed into the “AI everything” trade. The firm’s talk of “outsized exposure to the Leading Edge” and spending accelerating into 2026/2027 is catnip for investors who want pure-play infrastructure bets. It’s not just about Nvidia anymore; it’s about the entire toolmaking supply chain.
Meanwhile, the dips in Alibaba and Baidu are a stark reminder of the other, less rosy macro picture. Weak retail sales and industrial production data out of China immediately hit the country’s internet giants. Their fortunes are still deeply tied to domestic consumer and business health, and right now, the data is saying “not so strong.” It’s a headwind that just won’t quit.
The Rest of the Pack
Quick hits on the others. Abercrombie’s continued rise, supposedly on a rotation out of tech, is interesting. Is it a sustainable trend or just hot money chasing the next thing? Tilray giving back some gains makes total sense—regulatory news creates volatility, not necessarily immediate, sustained value. And Rocket Lab falling on SpaceX IPO rumors is a classic “sell the competitor” move. If the 800-pound gorilla (SpaceX) is coming to the public market, what does that mean for the valuation of the smaller, publicly-traded players already there? Nothing good, in the short term. It was a messy, news-driven session, basically. One day’s winner can be tomorrow’s bankruptcy filing.
