Twilio, Atlassian, and SoundHound AI shares fall as investors rotate from high-growth software names

Price ActionMacro

โดย Yahoo Finance·Read original

Summary · why it matters

Shares of Twilio, Atlassian, and SoundHound AI declined in afternoon trading as investors rotated out of high-multiple growth stocks that had led the recent rally. Twilio fell 4.1%, Atlassian dropped 4.5%, and SoundHound AI lost 5%. The sell-off was driven by a sharper-than-expected May import price report showing a 1.9% monthly rise versus a 1.1% forecast and a 6.7% annual gain, the largest since August 2022, which complicated the view that the Iran peace deal had resolved inflation concerns. Additional pressure came from a Bank of America fund manager survey in which 28% of respondents cited an AI bubble as the second-largest tail risk, and from SpaceX's announcement that it is acquiring AI coding platform Cursor for $60 billion, signaling consolidation of valuable AI software assets. Investors also positioned cautiously ahead of new Federal Reserve Chairman Kevin Warsh's first meeting later in the week.

SoundHound AI Inc ▼

Atlassian Corp Plc ▼

Space Exploration Technologies Corp. Class A Common Stock ±

Impact on stocks 4

Cloud & Digital Infrastructure▼ · 2 stocks

Atlassian Corp Plc

▼ NegativeMonetaryrelevance

Dropped 4.5% as part of rotation from high-multiple growth stocks.

▼ NegativeMonetaryrelevance

Fell 4.1% as investors rotated out of high-growth software names.

Artificial Intelligence▼ · 1 stocks

SoundHound AI Inc

▼ NegativeMonetaryrelevance

Fell 5% as investors rotated out of high-growth software names amid inflation and AI bubble concerns.

Space Economy▲ · 1 stocks

Space Exploration Technologies Corp. Class A Common Stock

± MixedCompetitionrelevance

Mentioned as acquiring Cursor, signaling consolidation of AI software assets, but not directly impacted by the sell-off.

Off-coverage companies 1

CursorPrivate± Mixed

relevance