US Stock⁤ Market Update: Trump Media, Coinbase, and⁢ Robinhood Plummet

On the 31st ‌of last month​ (local time), the stock prices of several notable⁤ companies, including Trump Media & Technology Group (DJT), Peloton, Robinhood, Coinbase, and Super Micro Computer (SMCI), were​ affected on the New York Stock Exchange.

Trump Media ‍& Technology Group (DJT) saw‍ its stock price fall 11.72% ​on this day after ⁢plummeting more than⁢ 22% the previous day. ‌As the U.S. presidential election approaches⁢ on⁢ November 5, profit-taking on the sharp rise so far ‍has ‌continued. The company’s⁤ stock price has continued to surge recently due to the so-called ‘Trump trade’,​ which bets on the possibility of former President‍ Donald Trump, the Republican ‍presidential‌ candidate, being elected. Trump owns about 60% of⁤ DJT.

Exercise equipment company Peloton Interactive closed trading at​ $8.50, ‌up‌ 27.82% from ‍the previous day. This is the largest ⁤daily increase since ⁤August 22nd. ⁢This is due to the ⁣fact that the ‍performance in the first quarter​ of the fiscal year exceeded⁤ market expectations, and the annual performance ‌guidance was also‌ revised upward.

The company recorded ‍sales of $586 million in‌ the first quarter⁢ of the fiscal year, slightly ⁣exceeding‍ the expert forecast ($574.8 million) compiled by ⁣LSEG. Net loss per share was $0. Markets had expected ‍a‌ loss of 16 cents per share.

American stock trading platform Robinhood plunged 16.73% due⁤ to the announcement of third quarter ‌earnings per share (EPS) ⁢that were below market expectations the previous day. Coinbase, a virtual asset trading platform, also ⁣plunged 15.34% for the same reason.

Due to ​this effect, Bitcoin mining company Mara⁤ Holdings (formerly Marathon Digital Holdings, ‍-8.26%) and​ Riot⁢ Platform (-11.83%), which are virtual asset-related stocks,⁤ fell⁢ together.

SMCI, an artificial intelligence (AI) server manufacturer, plunged 11.97% ⁤today, following a‍ nearly 33% plunge the previous‌ day. Investor sentiment was ‍greatly shaken after the ⁣accounting firm Ernst & Young (E&Y) announced the⁣ day before that it would ‍resign⁣ from its position as auditor⁣ of SMCI, citing reasons such as corporate governance, transparency, and independence of the board of directors. Investment research firm Argus downgraded ​SMCI’s investment opinion from ‘Buy’ to ‘Hold’.