Market Signal Briefing

Recent Medicare Advantage news may mean disappointing updates to guidance.

CVS Health (CVS +2.65%) will release its latest quarterly results and provide guidance updates pre-market on Tuesday, Feb. 10. Over the past four quarters, the healthcare giant has delivered earnings results that finished well ahead of sell-side estimates. Yet even if CVS delivers a revenue and earnings beat in Q4, don't assume that what comes next is a post-earnings rally.

Instead, it's possible that updates to 2026 guidance, affected by the recent proposed Medicare Advantage payment rates for this year, will lead to a negative response among investors.

This comes even as this healthcare stock has already been subject to near-term volatility on the Medicare news, falling by double-digit percentages upon its announcement late last month.

Image source: Getty Images.

CVS Health earnings preview For Q4 2025, sell-side consensus calls for non-GAAP earnings of $0.99 per share. This represents a moderate decline from Q4 2024, when the company reported non-GAAP earnings of $1.19 per share. That said, walked-back expectations could give way to yet another earnings beat for CVS.

Then again, it may not be the results themselves that Wall Street focuses on with the earnings report coming next week. Instead, much as with other major healthcare stocks, investors may place greater focus on CVS' 2026 guidance.

They may particularly be looking at the effect of the aforementioned Medicare Advantage payment rates on this guidance. UnitedHealth (UNH +2.89%), which released earnings the same day the U.S. government proposed raising Medicare Advantage payment rates by only 0.9%, released an underwhelming outlook for the coming year.

Even as CVS shares, which fell by over 14% on the Medicare Advantage news, may seem to already price in the effect of lower-than-expected payment increases on revenue and profitability, that may not necessarily be the case. That said, even if shares, which have started to bounce back from the recent sell-off, trend lower again, don't assume this shatters CVS' long-term bull case.

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Long-term positives to consider if CVS experiences further near-term turbulence CVS shares may have sold off sharply on the Medicare Advantage news, but the company's future prospects may be more promising than UnitedHealth's. While UnitedHealth is primarily an insurance company, CVS' Aetna unit makes up a smaller portion of its overall business.

CVS' retail pharmacy chain, plus its pharmacy benefits management (PBM) unit, generate a far greater portion of the company's overall revenue and earnings. The proposed Medicare Advantage payment rates may have a relatively lesser effect on the company's bottom line. The same may apply to another potential headwind, increased scrutiny by regulators and lawmakers.

CVS' ongoing turnaround efforts in its pharmacy segment could help offset headwinds in its insurance segment. While UnitedHealth trades at 16 times forward earnings, higher than most health insurance stocks, CVS trades at less than 11 times forward earnings, a far more reasonable multiple.

Higher expectations about future growth remain baked into UnitedHealth's valuation, leaving it at risk of additional declines if subsequent results underwhelm. However, with greater skepticism incorporated into CVS Health's valuation, the stock could rally on "better than feared" results. Hence, while you may want to be careful with CVS ahead of earnings, the long-term bull case may remain intact.

By Reuters

February 7, 202610:19 PM UTCUpdated 6 mins ago

Feb 7 (Reuters) - Jack Dorsey's fintech Block (XYZ.N), opens new tab is considering cutting up to 10% of its workforce during annual performance reviews, Bloomberg News reported on Saturday citing people familiar with the matter.

Reuters could not immediately verify the report.

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Reporting by Anusha Shah in Bengaluru; Editing by Andrea Ricci

Our Standards: The Thomson Reuters Trust Principles., opens new tab

QLD carries a higher expense ratio and a much lower yield compared to SSO. QLD delivered a stronger one-year return but experienced a substantially deeper five-year drawdown.

New York, New York--(Newsfile Corp. - February 7, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Klarna Group plc (NYSE: KLAR) pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with Klarna's September 2025 initial public offering (the "IPO"), of the important February 20, 2026 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased Klarna securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Klarna class action, go to https://rosenlegal.com/submit-form/?case_id=48971 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 20, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the Registration Statement contained false and/or misleading statements and/or failed to disclose that: (1) Defendants materially understated the risk that Klarna's loss reserves would materially go up within a few months of the IPO, which they either knew of or should have known of given the risk profile of many individuals agreeing to Klarna's buy now, pay later ("BNPL") loans; and (2); as a result, defendants' public statements were materially false and misleading at all relevant times and negligently prepared. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Klarna class action, go to https://rosenlegal.com/submit-form/?case_id=48971 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Canada Goose Holdings designs and markets luxury outerwear and apparel, serving global consumers through direct and wholesale channels.

What happenedAccording to a SEC filing dated Feb. 3, 2026, Kessler Investment Group, LLC bought 379,516 additional shares of Canada Goose Holdings, with an estimated transaction value of $5.05 million based on the quarterly average share price. The fund's quarter-end position value increased by $4.66 million, reflecting both the share purchase and changes in Canada Goose Holdings' stock price over the period.

What else to knowThis buy brings the GOOS position to 3.7% of Kessler’s 13F reportable assets under management.

Top holdings after the filing:Alphabet: $20.44 million (8.6% of AUM)Crowdstrike: $13.06 million (5.5% of AUM)Roku: $12.63 million (5.3% of AUM)Estee Lauder Companies: $10.64 million (4.5%)Arista Networks: $10.35 million (4.4%)As of Feb. 6, 2026, GOOS shares were priced at $11.24, up 14.7% over the past year, outperforming the S&P 500 by one percentage point.

Company overviewMetricValueRevenue (TTM)$1.04 billionNet income (TTM)$15.01 millionPrice (as of market close 2/6/26)$11.241-year price change14.7%Company snapshotCanada Goose:

Offers performance luxury apparel, including parkas, lightweight down jackets, rainwear, windwear, knitwear, footwear, and accessories, serving fall, winter, and spring seasons.Generates revenue through a mix of direct-to-consumer sales (e-commerce and company-operated stores) and wholesale distribution to partners and retailers globally.Targets affluent men, women, youth, and children across North America, Asia Pacific, Europe, and other international markets seeking premium outerwear and lifestyle products.Canada Goose Holdings is a leading designer and manufacturer of luxury performance apparel with a global footprint and a diversified channel strategy.

What this transaction means for investorsKessler’s purchase of luxury outerwear stock Canada Goose is certainly eye-catching. After just two quarters of buying the stock, Kessler has already made the luxury business its tenth-largest holding. Trading between 1 and 1.5 times sales in Q3 and Q4 when Kessler bought, Canada Goose is a reasonably priced luxury stock to consider.

However, the company recently reported Q3 earnings on Feb. 5th, and the market sent GOOS stock down over 10%. Canada Goose grew total sales by 14% and North American revenue by 20%, while delivering its fourth consecutive quarter of direct-to-consumer (DTC) sales growth. However, its margins and earnings remained weaker than expected. It will be interesting to see if Kessler buys the dip when we get Q1 data.

Personally, the cyclicality and volatility in apparel stocks typically scare me away from investing in them. However, Canada Goose’s luxury tilt -- and now discounted valuation at just 1.1 times sales and 9 times free cash flow -- makes it much more intriguing than most. Not only have its down-filled products remained resilient over time, but its “newness” (new product categories) sales have doubled year over year, suggesting that customer appetite for the brand extends beyond its traditional offerings.

If Canada Goose can rein in its expenses over time and maintain its premium branding, it could prove to be a steal for Kessler at today’s potential cyclical trough.

Josh Kohn-Lindquist has positions in Alphabet, Arista Networks, CrowdStrike, and Roku. The Motley Fool has positions in and recommends Alphabet, Arista Networks, CrowdStrike, and Roku. The Motley Fool has a disclosure policy.

SYDNEY, Feb 8 (Reuters) - Tropical Cyclone Mitchell intensified on Sunday, Australia's weather bureau said, as it tracked towards the country's remote northwest, home to the world's biggest iron-ore export hub of Port Hedland.

Port Hedland, as well as the nearby ports of Ashburton, Cape Preston West, Dampier and Varanus Island, closed on Saturday as Mitchell developed off the coast of Western Australia's resource-rich Pilbara region, Pilbara Ports said.

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On Sunday, the weather bureau said Mitchell had strengthened to a Category 3 cyclone with wind gusts of up to 195 kph (121 mph). Category 3 storms, two levels below the most severe, typically bring winds that damage structures, crops and trees, and cause power failures, according to the weather bureau.

The federal agency forecast Mitchell to make landfall between the towns of Exmouth and Onslow late on Sunday or early Monday morning local time.

"Widespread moderate to heavy rainfall which may lead to flash flooding is likely over the west Pilbara coast," it said on its website.

Port Hedland, about 1,300 km (800 miles) north of the state capital, Perth, is the world's biggest export point for iron ore and is used by miners including BHP Group, Fortescue and billionaire Gina Rinehart's Hancock Prospecting.

Pilbara Ports said on Friday its ports were being cleared due to the emerging cyclone risk.

Reporting by Sam McKeith in Sydney Editing by Rod Nickel

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Increased R&D spending could pay off in the AI boom.

Arm Holdings (ARM +11.56%) often seems misunderstood by the stock market. The company has a unique business model as it licenses its CPU designs and then earns royalty revenue when the products with those designs are sold.

That misunderstanding has manifested itself in the response to its earnings reports. For instance, the stock initially fell on Wednesday after it reported earnings, but then climbed in regular trading on Thursday. There were some valid reasons for the initial sell-off. Investors are spooked about declining production in the smartphone sector, which makes up Arm's biggest source of royalty revenue, due to the memory shortage.

However, Arm has less exposure to weakness in the smartphone sector than it might seem since partners like Mediatek are cutting production of lower-end chips, which provide much less royalty revenue to Arm than its newer designs do.

Additionally, the stock is expensive, trading at a price-to-earnings ratio of roughly 60 based on adjusted earnings per share, meaning high expectations are baked in.

Arm is delivering solid growth with revenue up 26% in the third quarter, but it doesn't have the explosive numbers that other AI stocks like Nvidia do. Still, despite a methodical business model tied to licensing and royalty revenue, Arm could have more growth potential than you think.

Image source: Getty Images.

What's next for Arm Arm's business model produces gross margins near 100% so its biggest line item is often research and development. Spending on research and development jumped 46% on a non-GAAP basis to $512 million, and that ramp seems to reflect the increasing opportunity in front of the company.

In an interview with The Motley Fool, Arm CFO Jason Child said, "We're spending a lot of time and money on continuing to build out new solutions" in areas like edge AI, putting AI into consumer devices like smartphones, and physical AI, designing products for applications like robotics and self-driving cars.

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Arm expects its research and development spending to outpace revenue growth for at least the next few quarters, but that investment is likely to pay off as the company currently earns much higher royalty rates from its newer products than it does from older ones. Presumably, the products it's working on now will generate even higher royalty rates and license fees.

The company is now seeing growth take off in the data center, where revenue more than doubled on a year-over-year basis, which also reflects its growth potential. The company expects to have 50% of the CPU market share among the top hyperscalers by the end of the year, showing its growing market share in a massive market, and it expects it to keep growing.

We're still only a few years into the AI revolution, and Arm has a number of ways to capitalize on the boom. Whether it's with new products, growth in the data center, or higher royalty rates, the stock is a good bet to be a winner from AI.

NEW YORK, Feb. 07, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Lakeland Industries, Inc. (NASDAQ: LAKE) resulting from allegations that Lakeland may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Lakeland securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=50020 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On December 9, 2025, Lakeland Industries issued a press release entitled “Lakeland Fire + Safety Reports Fiscal Third Quarter 2026 Financial Results.” In this press release, Lakeland announced that it was withdrawing its previously issued financial guidance for the 2026 fiscal year and that it would “not be providing financial guidance going forward.”

On this news, Lakeland stock fell 38.97% on December 10, 2025.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

Journalist

Posted: February 8, 2026

Over the past day, Bitcoin Cash [BCH] posted a strong performance, rising as much as 20% and reaching an intraday high of $544 at the time of writing.

The move reflects a combination of rising on-chain usage and growing bullish conviction among futures traders in the BCH perpetuals market.

On-chain activity signals rising network usage On-chain data points to a notable increase in network usage, highlighting renewed liquidity flows across the BCH blockchain. Over the past week, transaction activity rose sharply, indicating stronger participation from market participants.

Between the 1st and 17th of February, the number of BCH transactions increased from 9,769 to 14,240. This represents an additional 4,471 transactions over the period, marking a clear rise in on-chain engagement.

Source: Bitinfocharts

The average transaction value over the past 24 hours stood at $8,411. This level suggests that a significant portion of recent activity may be linked to large holders, commonly referred to as whales.

While direct confirmation of whale accumulation remains unavailable, the total value of BCH transferred during this period reached $119.76 million. This figure accounts for roughly 1.16% of the asset’s total market capitalization, indicating that substantial on-chain liquidity has moved.

Futures market shows a strong long bias Speculative positioning in the derivatives market continues to support the ongoing rally. Futures traders have increased bullish exposure, with a majority of capital concentrated in long positions.

Data from CoinGlass shows that the OI-Weighted Funding Rate has turned positive at press time. This metric measures where Open Interest (OI) is concentrated relative to funding costs and is commonly used to assess directional bias in futures markets.

Source: CoinGlass

A positive reading indicates that long positions dominate OI, increasing the likelihood of price continuation in that direction. Given current market momentum, this positioning reinforces upside pressure.

Liquidation data further highlights the imbalance between longs and shorts. Over the same period, short liquidations significantly exceeded long liquidations. Long liquidations totaled $102,340, while short liquidations reached approximately $1.5 million, nearly ten times higher.

As the gap between short and long liquidations widens, market conditions continue to favor bullish positioning, provided overall momentum remains intact.

Hashrate decline raises network concerns Despite supportive on-chain and derivatives data, BCH’s declining hashrate presents a potential risk. Hashrate measures the total computational power securing a proof-of-work network such as Bitcoin Cash.

A decline in hashrate indicates reduced mining activity, often driven by lower profitability or operational constraints. Fewer miners or reduced computing power can weaken network security in the short term.

In this case, the decline appears temporary unless price weakness forces miners to sell holdings to cover costs. However, sustained hashrate pressure could undermine confidence if it persists.

Spot market behavior introduces an additional headwind. Data shows a rise in selling activity, with total spot sell-offs reaching $1.1 million over the past day.

If selling pressure continues to build, it could limit further upside and dampen overall price performance, even as derivatives traders remain positioned for higher prices.

Final Thoughts BCH has recorded a sharp increase in on-chain activity, strengthening overall market participation. At the same time, speculative positioning has tilted in favor of a continued rally.

BTC lending platform Strike has updated its bitcoin-backed loan policies amid heightened crypto market volatility, extending the margin call recovery window and adjusting loan-to-value thresholds to give borrowers more flexibility.

Journalist

Posted: February 8, 2026

With the broader market recovering, Uniswap [UNI] showed bullish momentum, staging a strong comeback from a slip below $3.

Previously, UNI had slipped to a four-month low of $2.8. However, as the market showed signs of recovery, UNI successfully defended $3 and reached a high of $3.5 before a mild pullback. 

At the time of writing, UNI traded at $3.49, up 9.2% on the daily charts. Over the same period, the market capitalization rebounded above $2 billion. 

Uniswap buyers buy the dip After UNI breached $3, investors entered the market with conviction and attempted to avoid further declines. This sentiment was overwhelmingly prevalent in the spot market, where buyers rushed to scoop up a discount. 

CryptoQuant data showed that Uniswap recorded 3.8 million UNI in Exchange Outflows on the 6th of February. At press time, outflows were 234k UNI, a significant drop from the previous day. 

Source: CryptoQuant

With outflows having dominated the market, Exchange Netflows remained negative. Between the 6th and 7th of February, Uniswap saw -$6.5 million in Spot Netflow, confirming higher outflows. 

Coupled with that, the Buyer vs. Seller Strength Indicator on Tradingview confirmed this market trend. Buyer strength skyrocketed to 89 before falling to 29 at press time. 

Source: TradingView

The surge in buyer strength drove the market to recover from recent losses. At the same time, the dip buyer cashed out, thus elevating seller strength to 70 at press time.

These market conditions showed fierce competition between buyers and sellers for market control.

UNI at crossroads, which way? Uniswap bounced back from the recent dip as buyers stepped in and bought the dip. However, upside momentum slowed as sellers stepped in and cashed out, while buyers’ appetite diminished.

These market conditions suggested an ongoing battle for market control between buyers and sellers. For now, while buyers have shown strength, sellers remain active.

In fact, the downside momentum remains intact as evidenced by the momentum indicators. For instance, the altcoin’s Directional Movement Index (DMI) fell to extreme oversold levels as of writing, while its negative index rose significantly.

Source: TradingView

A rising ADX while +DI declines indicates strong downside momentum, with sellers in an overwhelming chokehold on the market. Therefore, recent buyers’ attempts have proven inadequate to sustain a trend reversal.

As such, these conditions point towards the continuation of the prevailing trend. If sellers continue to dominate, UNI is likely to decline again toward $3.0.

For a trend reversal, buyers must push the daily close above the EMA20 at $4.2, thereby incentivizing the market to move above $4.9.

Final Thoughts UNI bounced back from a four-month slip and jumped to a local high of $3.5 before a mild pullback Uniswap rebounded as buyers stepped to buy the dip, but bearish structure remained stubbornly intact. 

This weekend, the Bitcoin network logged its steepest difficulty cut since July 3, 2021—a moment that followed China's sweeping ban on mining and trading, which triggered a sharp market sell-off and sent miners scrambling for exits beyond the region. Bitcoin Mining Gets Easier—for Now—as Difficulty Drops 11.

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Strategy Inc. got hammered yesterday. The software company’s shares dropped 15% to $28 as Bitcoin crashed to its lowest point in three months, dragging down firms with heavy crypto exposure across the board.

The U.S.-based company, which holds over 130,000 Bitcoins worth roughly $4.5 billion at current prices, reported a brutal $24 million quarterly loss on February 5, 2026. That’s a massive swing from the $10 million profit they posted in the same quarter last year. CEO Michael Evans blamed half the loss on Bitcoin’s wild price swings, with the rest coming from higher operating costs that keep piling up.

Bitcoin’s having a rough week.

The cryptocurrency plunged 20% in just seven days, hitting $34,000 and sending shockwaves through companies that bet big on digital assets. Regulatory crackdowns in the U.S. and Europe are spooking investors, with the SEC tightening controls on crypto exchanges and European authorities cooking up stricter trading rules. But Evans isn’t backing down from his Bitcoin strategy, calling it a “strategic asset” despite the bloodbath.

“We believe in Bitcoin’s potential,” Evans said during the earnings call, though his optimism didn’t stop investors from running for the exits. Trading volume surged as shares opened down from $33 the previous day, pretty much reflecting broader skepticism about crypto’s place in corporate treasuries. And Strategy Inc. isn’t alone in feeling the pain – NextGen Solutions dropped 12% while Tech Innovators fell 14%, both citing Bitcoin’s collapse as a major factor.

Financial analyst Lisa Chen thinks Strategy Inc. is playing with fire. “Bitcoin’s sharp price swings can significantly impact a company’s balance sheet,” she warned, pushing for a more diversified approach to dodge the risks that come with crypto investments. The company’s heavy reliance on volatile digital assets has investors seriously worried about what comes next.

Regulatory pressure keeps mounting.

The SEC’s recent crackdown on unregistered crypto exchanges created massive uncertainty, while European regulators are exploring even tougher rules for digital asset trading. Evans sees the regulatory push as good news, arguing that “we welcome clear guidelines” because they’ll give cryptocurrencies more legitimacy in the long run. But shareholders aren’t buying it – they want answers at next month’s meeting about the company’s crypto strategy and diversification plans.

Strategy Inc. announced on February 10 that it’s reassessing its Bitcoin approach after the recent market chaos. CFO Sarah Thompson said they’re exploring ways to hedge against Bitcoin’s volatility, though she didn’t spell out specific strategies. The stock managed a slight recovery to $27.50 by February 9, but trading volumes stayed high, showing continued investor uncertainty about those massive crypto holdings.

The board called an emergency meeting for February 15 to evaluate how cryptocurrency market swings are hitting the company’s financial health. They’re also looking at potential changes to asset management policies, with board member David Lee mentioning a possible partial sale of Bitcoin holdings by March. “We’re evaluating all options to ensure sustainable growth,” Lee said, hinting that the company might finally diversify beyond crypto.

Wall Street analysts are taking notice. Morgan Stanley downgraded Strategy Inc. from “buy” to “hold” on February 13, citing the firm’s crypto exposure as a major risk factor. The company also partnered with Greenfield Advisors to explore alternative investments beyond cryptocurrencies, with Thompson stressing the need to diversify the asset portfolio and stabilize performance amid all this market turbulence.

The upcoming shareholder meeting on March 5 can’t come soon enough for nervous investors. They’re desperate to hear how Strategy Inc. plans to navigate these choppy waters and whether the company will stick with its Bitcoin-heavy strategy or finally pivot to safer ground. With regulatory investigations ongoing and no formal communication from authorities about the firm’s crypto investments, Strategy Inc. finds itself in a waiting game that’s costing shareholders millions.

The SEC hasn’t provided any comment on its ongoing crypto investigations.

Strategy Inc.’s crypto troubles mirror a broader corporate retreat from Bitcoin treasuries that started gaining momentum in late 2025. Tesla sold 75% of its Bitcoin holdings last quarter, while Square reduced its position by 40% amid similar volatility concerns. MicroStrategy, once the poster child for corporate Bitcoin adoption, saw its shares lose 35% of their value over the past six months as institutional investors grew wary of crypto-heavy balance sheets.

Market data shows that companies with significant Bitcoin exposure have underperformed the S&P 500 by an average of 18% this year. Goldman Sachs analysts estimate that roughly $12 billion in corporate Bitcoin holdings across 47 publicly traded companies could face further pressure if regulatory uncertainty persists. Meanwhile, venture capital firm Andreessen Horowitz reduced its crypto fund allocations by 30% in January, signaling that even crypto-native investors are becoming more cautious about digital asset volatility in corporate portfolios.

Post Views: 1

Crypto expert Tony Severino has opined that Bitcoin isn’t just showing signs of a yearly top but also that the BTC price may have hit a 16-year cyclical peak. This comes amid the flagship crypto’s recent crash to $60,000, which sparked fears of a bear market.

Bitcoin May Be Showing Signs Of A Peak Amid BTC Price Crash To $60,000 In an X post, Severino alluded to the yearly Bitcoin chart, which he said looks like a 16-year cyclical peak rather than just a yearly top. The expert also outlined several reasons this appears to be a major cyclical top for the BTC price. First, he noted that the white candlesticks have been decreasing in size over time, while black candlesticks engulf more white candles with each appearance. 

Furthermore, Severino highlighted the Doji at the top of a rising wedge pattern while the Evening Star is in progress, which is a bearish reversal signal for the BTC price. Meanwhile, the Fischer Transform is crossing bearish with divergence, and the Stochastic is crossing bearish after being rejected from 80. He added that Bitcoin’s Relative Strength Index (RSI) is falling back below 70 after making it above this level on the highest timeframe chart. 

Source: Chart from Tony Severino on X His analysis comes as the BTC price continues to decline, suggesting the crypto market may be in a bear market after topping last October. Bitcoin dropped to as low as $60,000 earlier this week, suffering its largest daily decline since the FTX collapse. Veteran trader Peter Brandt has also opined that Bitcoin is in a bear market, predicting that it could still drop to as low as $42,000 before it sees a bottom. 

Reason For The Recent BTC Crash BitMEX co-founder Arthur Hayes has commented on the reason for this recent Bitcoin crash, suggesting that it was due to external factors rather than part of an ongoing bear market. In an X post, he stated that the BTC price dump was probably due to a dealer hedging off the back of BlackRock’s BTC ETF structured products. Notably, BlackRock’s IBIT saw a record trading volume of $10 billion on the day of this crash to $60,000. 

Hayes’ comment comes on the back of Bitcoin’s rebound above $70,000, with the flagship crypto recording one of its largest ever daily gains yesterday following the crash to $60,000. Galaxy Digital’s Head of Research, Alex Thorn, suggested that the drop to $60,000 may mark the bottom for the BTC price. This came as he noted that the 200-week MA, which is around $60,000, has historically been a strong entry point for long-term investors. 

At the time of writing, the BTC price is trading at around $70,000, up over 6% in the last 24 hours, according to data from CoinMarketCap.

BTC trading at $68,437 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Pngtree, chart from Tradingview.com

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In line with its bearish market structure, the Ethereum price struggled significantly in the first week of February. The cryptocurrency’s value fell by more than 30% over the week, crashing to as low as $1,850 on Friday, February 6. Amid the Ethereum market downturn, a significant development has emerged — one which could make or mar the world’s second-largest cryptocurrency.

Ethereum Breaches Realized Price Across All Investor Cohorts In a recent post on Quicktake, on-chain analyst MorenoDV shared a shocking development within the Ethereum network. The analyst highlighted that the Ethereum price recently slipped below the cost basis of multiple investor groups. 

The revelation is based on the Realized Price by Balance Cohorts metric, which monitors the average on-chain cost basis of Ethereum holders. The metric groups these investors by wallet size, showing where these cohorts are holding profitably or running at losses. 

Source: CryptoQuant In the chart above, we see the Ethereum price break beneath multiple cost bases (represented with yellow, green, blue, and purple lines). The most striking, however, is the loss of the realized price of the largest holders (with 100k ETH and above stored), which stands at around $2,074. 

Historically, the realized price of this investor class (with more than 100k ETH in holdings) has taken on dual roles for the Ethereum price, depending on its trajectory. According to data from 2019, mid-2020, and late 2022 price actions, whale realized price typically takes on a role of formidably resisting price during downtrends; during uptrends, it interestingly acts as reliable support. 

Hence, at periods where the Ethereum price stabs through the whale realized price to the downside, MorenoDV explained that two potential paths typically emerge. In his words: “either a violent snap-back rally as the level flips to support (2020, 2022), or further capitulation into multi-year lows (2018-2019).”

Major ETH Price Levels To Watch Because the Ethereum price went through all investor cohorts’ realized prices at the same time, there is something worth noting here. MorenoDV pointed out that smaller holders collectively have their realized prices between the $2,534 – $2,675 range.

Thus, should the Ethereum price attempt to recover previous legs, the $2,534–$2,675 price range will pose significant resistance to that effort. However, the aforementioned range is not the most critical one for the Ethereum price. 

The analyst highlighted the whale cohort’s realized price, which is approximately $2,074 — to be the most critical for the Ethereum price. Following previous extrapolations, a reclamation of this level would likely follow historical trends and push prices upwards, while failure to retake this level within a period of 30 – 45 days would precede significant drawdowns.

In the event that the latter scenario holds true, the Ethereum price could swiftly fall to $1,800, or even lower. If price breaks beneath $1,800 and is sustained below this level, MorenoDV hypothesizes that this could lead Ethereum to the $1,600–$1,300 levels.

As of this writing, Ethereum stands at a valuation of $2,030, reflecting an over 7% jump in the past 24 hours. 

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView Featured image from iStock, chart from TradingView

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In brief Released files related to convicted sex offender and financier Jeffrey Epstein contain numerous crypto mentions. New revelations show correspondence with notable early crypto builders and backers. Other files point to Epstein's early investments into notable crypto companies. A search through the trove of files related to convicted sex offender Jeffrey Epstein provides thousands of results related to crypto and Bitcoin, highlighted by Epstein’s early involvement and awareness of notable crypto projects and protocols.

Over the course of the week, Decrypt has highlighted some of the largest stories that emerged from the millions of files released last week by the Department of Justice, including how Epstein invested in Coinbase and Bitcoin firm Blockstream, and had a very close relationship with Tether co-founder Brock Pierce.

But there’s plenty more in the files, including references to major crypto players like Ethereum co-founder Vitalik Buterin and Strategy co-founder and Executive Chairman Michael Saylor. Here’s a look at the most surprising crypto mentions from both batches of the Epstein files released by the Department of Justice.

Coinbase investmentJeffrey Epstein was an early investor in publicly traded crypto exchange Coinbase, new emails show. 

The convicted sex offender invested $3 million in 2014 and was introduced to the opportunity by Tether co-founder Brock Pierce and his investment firm, Blockchain Capital. However, Blockchain told Decrypt that Epstein ultimately invested independently, not through the firm.

Based on the emails, it's apparent that Coinbase co-founder Fred Ehrsam was personally aware of the investment, which came years after Epstein’s conviction. The investment was made when Coinbase was valued around $400 million; the publicly traded company is now worth $44 billion. 

In 2018, Epstein sold around half of his investment back to Blockchain Capital, emails show.

Bitcoin, crypto taxesEpstein was seeking clarification about Bitcoin regulation and taxes as early as 2018, emails from the first trove of files released by the Department of Justice revealed. 

In conversation with former Trump strategist Steve Bannon, Epstein suggested that the Treasury Department should create a voluntary disclosure form for crypto gains in an attempt to “fuck all the bad guys.”

Later that year, Epstein noted that crypto should be thought of similarly to the internet, and handled with “coordinated understandings” and international agreements. 

Brock Pierce and EpsteinTether co-founder Brock Pierce communicated with Epstein on multiple occasions about cryptocurrency and women, with all correspondence taking place after Epstein’s 2008 conviction, according to the latest batch of files released by the Department of Justice. 

At one point, Pierce told Epstein that “he had a great time with the girls,” and Epstein also instructed the crypto entrepreneur to “find him a present” when he was traveling abroad.  

Furthermore, Epstein communicated to both sides of an alleged relationship that Pierce had with an individual that Epstein called “his assistant.” The individual allegedly declined a marriage proposal from Pierce.

Files also uncovered a meeting at Epstein’s Manhattan townhouse between Tether co-founder Brock Pierce and former Harvard President Larry Summers. 

The two apparently utilized the disgraced financier's dwelling to chat about Bitcoin, with Summers noting that he saw “opportunities,” but was concerned about the potential damage to his reputation that Bitcoin losses could create.

Blockstream investmentEpstein was an investor in Bitcoin infrastructure firm Blockstream, according to newly revealed emails and a confirmation from early Bitcoin developer and Blockstream co-founder Adam Back. 

“Blockstream met with Jeffrey Epstein, who was described at the time as a limited partner in [Joi] Ito’s fund,” wrote Back. “That fund later invested a minority stake in Blockstream.”

The longtime Bitcoiner and his Blockstream co-founder Austin Hill were also both invited to Epstein’s island in 2014, according to newly revealed files from the DOJ. But whether or not the trip ever happened is unclear from the emails, and Back did not respond to Decrypt’s request for comment.

In his confirmation of Epstein’s investment, the Blockstream co-founder added that the firm “has no direct nor indirect financial connection with Jeffrey Epstein, or his estate” at present time. 

A Bitcoin core developer and former contributor to Blockstream urged Back to resign this week after the new files were released. 

Epstein and Thiel talk Bitcoin narrativeA 2014 email from Jeffrey Epstein to famed tech investor Peter Thiel questioned Bitcoin’s narrative. 

“There is little agreement on what Bitcoin is,” wrote Epstein. “Store of or intrinsic value, (if any) currency, property, architecture, payment system. Etc.” 

The reply followed a question from Thiel about an increasing “anti-BTC pressure” that might be growing within the U.S. government. 

At the time, Bitcoin was trading around $691 per coin. It’s since jumped dramatically, recently trading around $70,000 after peaking above $126,000 last October.

Michael Saylor slammedBitcoin bull and Strategy Executive Chairman Michael Saylor was called a “creep” by Epstein’s publicist Peggy Siegal in an email to the convicted sex offender in 2010. 

“He has no personality. Sort of like a zombie on a drug,” wrote Siegal of Saylor. “I walked him around and he was so weird that even I ran away from him.” 

According to the email, Saylor provided $25,000 for a spring gala for the "opportunity to get his name on [the] invite and meet a hip group.”

The email was sent more than a decade before Saylor’s software firm would make its first BTC purchase, with the firm amassing nearly $50 billion worth of the asset and inspiring a wave of followers to adopt a crypto treasury model.

Questionable ethicsDespite his 2008 conviction for procuring a child for prostitution and soliciting a prostitute, a decade later, Epstein was concerned about the ethics of funding projects in the crypto space. 

“I am more than happy to fund things but as I am high-profile, it can’t be questionable ethics,” Epstein wrote in an email to Bitcoin researcher Jeremy Rubin, who replied telling the financier that there’s a “grey area between pump and develop.” 

“Their deal is to pump the currency,” said Epstein of investors in the space. “It is dangerous.”

A “better” Vitalik ButerinEthereum co-founder Vitalik Buterin’s name is found in the Epstein files, but not as a result of any direct connections or correspondence with the disgraced financier. 

Instead, the latest batch of emails shows an email Epstein received from Masha Drokova that highlights that the Russian investor had found a “super smart and young blockchain enthusiast in Russia.” 

“He can be better than Vitalik Buterin if he focuses on technology,” Drokova added. 

Although she offered to connect Epstein to the Russian individual, it is not clear who the technologist was, or whether or not they were ultimately linked to Epstein.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Dogecoin has triggered a TD Sequential buy signal on its daily chart as the price approaches $0.095, marking a potential shift in market dynamics. The signal emerges after prolonged selling pressure that has gradually diminished over recent weeks.

The cryptocurrency has declined steadily since its September peak. Recent price action displays shorter candle bodies and reduced momentum, indicating possible seller fatigue. However, technical analysts warn that this development does not signal a trend reversal.

At press time, DOGE trades near $0.09835 following a 0.08% decline in the past 24 hours. This bounce reflects a reaction to established support levels rather than a fundamental change in market structure.

Price Remains Trapped Within Descending ChannelThe asset continues moving within a descending regression channel that has governed price action for several months. This pattern limits upside potential while providing structural boundaries for trading activity.

Support currently holds at $0.080, a zone where previous selloffs lost momentum. This level represents critical defense for bulls attempting to prevent further deterioration.

Above current levels, resistance sits at $0.117. This threshold has rejected multiple recovery attempts since November. Traders view this level as essential for any sustainable reversal. Breaking above it could open the path toward $0.153, which aligns with the channel's upper boundary and previous distribution zones.

The TD Sequential indicator operates as a momentum tool that identifies potential exhaustion points. While useful for timing entries, it does not override prevailing trend direction. The signal suggests reduced selling intensity rather than imminent bullish control.

On-Chain Metrics Point to Accumulation BehaviorSpot Taker Cumulative Volume Delta remains positive despite extended price weakness. Aggressive buy orders continue exceeding sell orders, demonstrating persistent demand at lower price levels.

This metric reveals market participants are absorbing available supply rather than liquidating positions. The pattern contrasts sharply with panic selling episodes where CVD typically turns sharply negative.

Buyers are not aggressively pushing prices higher. Instead, they enter positions methodically as sellers reduce activity. This dynamic supports the notion of quiet accumulation through absorption rather than speculative enthusiasm.

Exchange netflow data reinforces this narrative. DOGE recorded approximately $7.7 million in outflows recently. Tokens leaving exchanges during weakness suggests holders are moving assets to cold storage rather than preparing for distribution.

Reduced exchange supply limits immediate selling pressure. However, these flows do not confirm aggressive institutional accumulation. They simply indicate diminished willingness to sell into current price levels.

Combined with positive CVD readings, these conditions reduce the probability of forced liquidation cascades. Absent new catalytic selling events, downside acceleration appears less likely from current levels.

Open Interest rose over 5% to approximately $1.04 billion while price remains compressed. This increase indicates traders are adding leveraged positions near support rather than closing exposure.

Rising OI without a directional breakout typically amplifies volatility risk. Both long and short positions appear active, suggesting market participants anticipate significant movement.

The current positioning creates elevated liquidation sensitivity. A decisive break above resistance or below support could trigger rapid, leverage-driven price expansion in either direction.

Funding rates remain near neutral, suggesting a balance between bulls and bears. Neither side has established clear dominance, contributing to range-bound conditions.

Journalist

Posted: February 8, 2026

SPX6900 [SPX], the Ethereum [ETH] network memecoin that is meant to be a parody of the S&P 500 index, has rallied 10.2% in the past 24 hours. The daily trading volume was not convincing either, down 38.2% from the previous day’s sizeable sell-off.

Over the past week, SPX has shed 8.79%, and was down 51.95% in 30 days. These figures might sound dreadful, especially if one is more used to trading and investing in traditional markets that the memecoin aims to flip in size one day, but they were the norm in the memecoin sector.

The sector’s market cap has fallen 35% in 30 days. The leader Dogecoin [DOGE] was down 33% in a month, giving context to the more volatile SPX performance.

The chances of an SPX resurgence Buyers beware. Short-term holders trying to flip an SPX bounce for profit could have a good time. Bitcoin [BTC] bounced 19.59% on the 6th of February, from $60k to $71.7k.

The memecoin rallied 41.15% on the same day, from $0.2214 to $0.3125.

Source: SPX/USDT on TradingView

The weekly swing structure remained bullish. The $0.2533 low from March 2025 has not been broken by a weekly session close below it. However, Bitcoin has a bearish weekly structure.

Buying SPX might seem like a steep discount right now, but there’s nothing to stop it from making new swing lows should BTC retreat to $60k or lower once again.

Should traders sell the bounce?

Source: SPX/USDT on TradingView

The past two months’ price action highlighted the $0.45 level as a prominent horizontal S/R level. In November and December, SPX bulls defended this support valiantly, but lost it in mid-January.

It marked the 50% retracement level for the latest bearish swing move on the daily timeframe. The technical indicators showed high selling pressure and firm downward momentum.

Traders can use a bounce to this level to sell the memecoin. It is possible, though unlikely, that the bounce might climb as high as $0.58-$0.678.

Therefore, investors need to be prepared for extreme volatility in either direction and keep an eye on BTC trends to assess what SPX is poised to do next.

Final Thoughts SPX6900, the traditional stock market index parody meme, has fallen to its 2025 swing low support. It was a risky buying opportunity with a high chance of failure, but it could reap high rewards. More risk-averse traders can wait for a retest of key resistances to sell. Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories. His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity. Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution. As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.

SOL rebounds sharply from $67 to $85 as traders debate whether the rally marks a genuine reversal or trap

CFO Michaela Ware sold 5,000 shares for a total of ~$812,000 on Feb. 5, 2026, reflecting the SEC Form 4 weighted average price. The sale represented 17.74% of Ms.

SAN DIEGO, Feb. 07, 2026 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces purchasers or acquirers of Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) common stock between August 3, 2023 and December 26, 2025, both dates inclusive (the “Class Period”), have until April 6, 2025 to seek appointment as lead plaintiff of the Ultragenyx class action lawsuit. Captioned Bailey v. Ultragenyx Pharmaceutical Inc., No. 26-cv-01097 (N.D. Cal.), the Ultragenyx class action lawsuit charges Ultragenyx and certain of Ultragenyx’ top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Ultragenyx class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-ultragenyx-pharmaceutical-inc-class-action-lawsuit-rare.html

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

CASE ALLEGATIONS: Ultragenyx is a biopharmaceutical company that focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases.

The Ultragenyx class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants created the false impression that they possessed reliable information pertaining to the effects of setrusumab on patients with variable types of Osteogenesis Imperfecta (“OI”), while also minimizing risk that patients in Ultragenyx’ Phase III Orbit study would fail to achieve a statistically significant reduction in annualized fracture rate (“AFR”), such that the second interim analysis could be performed and presented to the investing public; and (ii) in truth, Ultragenyx’ optimism in the Phase III Orbit study’s results and interim analysis benchmark were misplaced because Ultragenyx failed to convey the risk associated with basing such threshold figures on Phase II results that had no placebo control group for appropriate comparison and thus had not ruled out that the reduction in AFR from that study could merely be triggered by an increased standard of care and the placebo effect of being provided a novel treatment.

The Ultragenyx class action lawsuit further alleges that on July 9, 2025, Ultragenyx revealed that the Phase III Orbit study failed to achieve statistical significance for the second interim analysis and that Phase III Orbit and Cosmic studies would now be “progressing toward final analysis.” On this news, the price of Ultragenyx stock fell more than 25%, according to the complaint.

Then, on December 29, 2025, Ultragenyx announced that both its Phase III Orbit and Cosmic Studies had not “achieved statistical significance against the primary endpoints of reduction in annualized clinical fracture rate compared to placebo or bisphosphonates, respectively.” Ultragenyx allegedly attributed the study failure to a “low fracture rate in the placebo group” of Orbit and a trend that fell shy of statistical significance in Cosmic. On this news, the price of Ultragenyx stock fell more than 42%, according to the complaint.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Ultragenyx common stock during the Class Period to seek appointment as lead plaintiff in the Ultragenyx class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Ultragenyx investor class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Ultragenyx shareholder class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Ultragenyx class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes. 
Services may be performed by attorneys in any of our offices. 

Contact:
        Robbins Geller Rudman & Dowd LLP
        J.C. Sanchez
        655 W. Broadway, Suite 1900, San Diego, CA 92101
        800-449-4900
        [email protected]

Explore how differences in cost, diversification, and holdings shape the appeal of these two popular U.S. equity ETFs for investors.

The State Street SPDR S&P 500 ETF Trust (SPY +1.92%) and the Vanguard Total Stock Market ETF (VTI +2.11%) are both designed for broad U.S. stock market exposure, but they differ in scope and cost.

SPY tracks the S&P 500 Index, focusing on large-cap companies, while VTI holds thousands of stocks across all market capitalizations, offering access to a more comprehensive slice of the U.S. market.

This comparison highlights the key differences to help investors weigh which may better fit their portfolio goals.

Snapshot (cost & size)MetricSPYVTIIssuerSPDRVanguardExpense ratio0.09%0.03%1-yr return (as of Feb. 5, 2026)13.13%12.43%Dividend yield1.05%1.10%Beta (5Y monthly)1.001.04AUM$709 billion$571 billionBeta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.

VTI is more affordable on fees, charging just one-third of SPY’s expense ratio. VTI also has a slight edge on dividend yield, making it appealing for both cost-conscious and income-seeking investors.

Performance & risk comparisonMetricSPYVTIMax drawdown (5 y)-24.50%-25.36%Growth of $1,000 over 5 years$1,764$1,656SPY has had a slightly milder maximum drawdown over the past five years and also outpaced VTI in cumulative growth, suggesting marginally stronger risk-adjusted results for large-cap-focused investors.

What's insideVTI casts a wide net, holding roughly 3,600 stocks and covering the full U.S. equity spectrum -- large-, mid-, and small-caps -- with a notable tilt toward technology (33%), financial services (13%), and consumer cyclical (10%).

Its largest positions are Nvidia, Apple, and Microsoft. The fund’s 24-year history and massive assets under management (AUM) contribute to its liquidity and stability, but its broad approach also exposes it to smaller, sometimes less liquid companies.

SPY, in contrast, focuses strictly on the S&P 500, heavily weighted toward technology (34%), financial services (13%), and communication services (11%). Its top holdings match VTI’s, but with slightly higher allocations.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investorsSPY and VTI both provide broad exposure to the overall market, and each has a distinct way to mitigate risk.

SPY focuses exclusively on large-cap stocks within the S&P 500, which can help reduce volatility. Large, industry-leading companies tend to be more stable than smaller corporations, especially during periods of economic turbulence.

VTI, on the other hand, encompasses the entire stock market, with around seven times as many holdings as SPY. It‘s tough to find a U.S. equities fund more diversified than VTI, and that broad diversification can also help manage volatility. If a few stocks — or even an entire sector — takes a turn for the worse, there are plenty of other holdings to prop up the fund.

Both ETFs have experienced similar one- and five-year total returns, though SPY has edged slightly ahead in both periods. SPY has also experienced marginally less volatility, with a milder maximum drawdown and a lower beta. The figures are so similar, though, that investors may not notice a meaningful difference between the two.

Investors looking for pure large-cap exposure may find SPY’s more concentrated approach appealing, while those seeking total market breadth may prefer VTI’s reach.

This article compares the twin funds, IDVO and DIVO, which deliver divergent performance results despite their shared strategic DNA. IDVO's superior returns are driven by its unhedged currency exposure and a more diversified, lower-concentration portfolio. A deep dive into these ETFs reveals them to be complementary assets for any income-oriented portfolio rather than mutually exclusive choices.

State Bank of India (SBKFF) Q3 2026 Earnings Call Transcript

Alphabet is already one of the most valuable companies in the world, but it's betting big on being the biggest artificial intelligence (AI) company as well.

This isn't likely to be a particularly controversial take, but right now it looks like Alphabet (GOOG 2.42%) (GOOGL 2.53%), Google's parent company, is looking like it will emerge as the artificial intelligence (AI) leader over the next couple of years.

The reasons why are pretty straightforward.

First, Google Gemini is gobbling up market share and is likely to overtake ChatGPT soon.

Second, Alphabet is working to separate itself from Nvidia for its hardware needs with its Tensor Processing Unit (TPU) chip.

Third, per its latest results, Alphabet is leveraging its considerably greater resources than the competition.

Let's discuss all three to illustrate why Alphabet is positioning itself to become the AI kingpin by the end of 2027.

Image source: Getty Images.

Gemini, Google that for me When OpenAI launched ChatGPT in 2022, it quickly became the leader in the generative AI space simply for lack of competition.

By 2023, competitors like Alphabet, Anthropic, and Meta Platforms had brought their competitors to market, but ChatGPT still held 50% market share in the enterprise large language model (LLM) space.

As reported by Menlo Ventures, in the two years since, ChatGPT fell to 27% market share, Anthropic grew from 12% to 40% market share, and Google's Gemini grew from 7% to 21%.

It's on a trajectory to overtake ChatGPT this year if current trends continue, and then it will be a race to the top between Google and Anthropic. Even then, Google wins.

Not a one-trick pony In addition to Gemini, Alphabet has its own proprietary AI hardware, the TPU, developed in partnership with Broadcom.

I won't get into the weeds technically here, but suffice it to say Alphabet's TPU offers a hardware alternative to Nvidia's GPU. And Anthropic is expanding its use of Alphabet's hardware to the tune of 1 million TPUs.

So, Google even wins from Gemini's main competitor because that competitor will be using a lot of Google's hardware.

Money, money, money Now, on to the $400 billion elephant in the room. Alphabet's biggest edge is that while neither OpenAI nor Anthropic has turned a profit yet, it is already profitable, and its revenue for 2025 exceeded $400 billion. That's a 15% increase over 2024. Net income was up 32% over 2024 to $132.1 billion.

None of that was particularly surprising. Google has been growing and profitable for a long time. What did surprise people was the fact that the company is going to roughly double its capital expenditures in 2026 to $175 billion to $185 billion.

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Building data centers isn't cheap, and neither is maintaining them. But Alphabet has way more money to spend on them than just about anyone else -- certainly more than the start-ups.

And if it can hold near its 59.6% gross margin and 32% net and operating margins, I'm not too worried about more spending. Plus, liquid cash to fuel that spending spree will not be a problem. In Q4 2025, the company grew its operating free cash flow 34% to $52.4 billion.

Alphabet is betting big on AI and clearly aiming to dominate the industry. And it has the money, products, and reach to pull it off, by my reckoning.

Give it a look if you want to go big on AI like Alphabet is, and come 2027, we'll see who sits atop the AI throne.