Key Takeaways

• CSCO shares declined 4.4% Friday, reaching an intraday low of $112.86, with trading volume exceeding twice the typical daily average.
• Third-quarter results surpassed expectations, delivering $1.06 earnings per share on revenue of $15.84 billion, representing 12% annual growth.
• Wall Street maintains a Moderate Buy rating with a consensus price target of $123.14; KeyCorp recently increased its forecast to $130.
• According to GuruFocus metrics, the stock appears significantly overvalued, trading 66.6% higher than its calculated fair value of $68.30.
• Recent insider transactions show approximately $7.2 million in stock sales during the past quarter, with no purchases recorded.

Shares of Cisco Systems (CSCO) experienced a significant selloff Friday, declining 4.4% and briefly touching $112.86 before settling at $113.77. The previous session ended at $118.97.

Cisco Systems, Inc., CSCO

Trading activity revealed heightened investor interest. Approximately 50.1 million shares traded hands throughout the session — well over twice the standard daily average of 24 million. Such elevated volume typically signals significant market reaction to new information.

The selloff appears puzzling given the company’s recent financial performance. For its latest reporting period, Cisco delivered earnings of $1.06 per share, surpassing analyst expectations of $1.03. The networking giant generated $15.84 billion in revenue, topping forecasts of $15.56 billion and marking a 12% increase compared to the year-ago period.

Management provided forward guidance projecting Q4 2026 earnings between $1.16 and $1.18 per share, with full fiscal year 2026 estimates ranging from $4.27 to $4.29 per share.

The company announced a quarterly dividend of $0.42 per share, scheduled for payment on July 22 to shareholders registered as of July 6. This represents an annual yield of approximately 1.5%.

Wall Street Maintains Optimistic Outlook

Despite Friday’s price action, analyst coverage remains constructive. KeyCorp maintained its overweight stance while elevating its price objective to $130. Bank of America holds a buy recommendation with a $150 target. Goldman Sachs assigns a neutral rating alongside a $125 forecast. Barclays rates the shares equal weight with a $121 projection.

Across 25 covering analysts, the consensus stands at Moderate Buy, with an average target price of $123.14 — comprising two Strong Buy ratings, 15 Buy recommendations, and eight Hold ratings.

CICC Research upgraded its target to $125 with an outperform designation in May. Conversely, Zacks downgraded the stock from strong buy to hold in April.

The company commands a market capitalization of $448.42 billion, trades at a price-to-earnings multiple of 36.94, and carries a beta coefficient of 1.01. The 50-day moving average stands at $109.17, while the 200-day moving average registers $89.29.

Valuation Metrics Raise Concerns

GuruFocus presents a more cautious perspective. Its GF Value methodology calculates Cisco’s fair value at $68.30, suggesting the current market price exceeds this estimate by approximately 66.6%. This disparity results in a classification of “Significantly Overvalued.”

The stock’s present P/E ratio of 36.9x substantially exceeds its five-year median of 19.8x — representing a premium of roughly 87%.

The company achieves a GF Score of 81 out of 100, earning solid ratings for profitability (8/10) and growth (8/10), but receiving only 3/10 for valuation.

Insider transaction patterns warrant attention. During the previous three months, company insiders disposed of approximately $7.2 million worth of shares, with no documented purchases. EVP Thimaya Subaiya divested 7,127 shares on June 16 at an average price of $119.91. EVP Oliver Tuszik sold 2,607 shares on June 11 at $121.12. Both transactions occurred through predetermined Rule 10b5-1 trading arrangements.

Institutional ownership accounts for 73.33% of outstanding shares. Multiple major investment firms expanded their stakes during the fourth quarter, including Truist Financial, which maintains a position exceeding 4.3 million shares.

The stock’s 52-week trading range spans from $65.75 to $130.37, positioning Friday’s closing price toward the upper portion of this spectrum.

Key Highlights

• Citizens maintained its “Market Outperform” rating with a $100 price target for Uber (UBER)
• UBER shares surged 5.6% during Friday’s afternoon trading session, reaching approximately $75.94
• The firm highlighted expanding Waymo autonomous ride miles on Uber’s platform as a primary catalyst
• Waymo’s cumulative rider-only miles increased by 44.5 million in Q1 2026, marking a 134% year-over-year gain
• Despite recent gains, Uber trades 8.4% lower year-to-date and remains 24.1% off its 52-week peak of $100.10

Shares of Uber (UBER) rallied 5.6% during Friday’s afternoon session following Citizens’ reaffirmation of its “Market Outperform” rating alongside a $100 price objective, emphasizing robust expansion linked to Waymo’s increasing presence on Uber’s platform.

Uber Technologies, Inc., UBER

At the time of publication, the stock was changing hands at $75.94, representing a 24.1% discount from its 52-week peak of $100.10 reached in October 2025. Year-to-date, Uber shares have declined 8.4%.

The Citizens research team emphasized Waymo’s “rider-only miles” — journeys completed in Alphabet’s self-driving vehicles accessible through the Uber application — as a significant positive indicator. During Q1 2026, Waymo accumulated an additional 44.5 million rider-only miles compared to the previous quarter, representing a 14% sequential increase and a 134% jump from the prior year.

However, the pace of expansion has moderated. During Q4 2025, Waymo’s mileage expanded 40% quarter-over-quarter and 157% year-over-year, indicating a noticeable deceleration. Citizens pointed to supply limitations as Waymo moves from its fifth-generation Jaguar I-PACE fleet to its sixth-generation Ojai vehicles. Public rider trips in the Ojai commenced in May 2026.

Geographic Distribution Changes for Waymo

San Francisco and Los Angeles represented approximately 55% of Q1 2026 mileage, declining from 62% in Q4 2025. Atlanta appeared in the reporting data for the first time, accounting for 11% of Q1 miles. Additional markets such as Houston, San Antonio, and Orlando have yet to appear in Waymo’s published figures.

Citizens observed that these statistics likely underrepresent actual activity, as emerging markets divert capacity from mature locations while Waymo continues operating under supply constraints.

This wasn’t the sole positive development for UBER during the week. Just two days prior, shares advanced 5.8% after Uber announced the addition of five new retail collaborators to the Uber Eats platform — Kiehl’s, FedEx Office, Blick Art Materials, Academy Sports + Outdoors, and Choice Pet.

Additional Positive Developments

On that same trading day, Tigress Financial Partners elevated its price objective on UBER to $115. A regulatory disclosure revealed that U.S. Representative Nancy Pelosi initiated a new bullish position on Uber using long-dated call options. Additionally, Uber unveiled plans with partner WeRide to introduce a commercial robotaxi operation in Zurich, marking its second planned European market entry.

Regarding competitive positioning, Wells Fargo research indicated that Uber’s delivery platform experienced a modest 1% reduction in product pricing and consumer fees — differing from DoorDash, which increased fees by 21% while decreasing product prices by 4%.

Lime, the electric scooter and bicycle sharing company, identified Uber as an anchor investor in its forthcoming IPO.

Investors who allocated $1,000 to Uber five years ago would currently hold approximately $1,486.

Tether has expanded the use of its $23 billion gold reserves by bringing its tokenized product Tether Gold (XAUT) to crypto lender Ledn.

Ledn said it is adding support for XAUT, alongside bitcoin BTC$60,525.11 and Tether’s stablecoin USDT, with borrowing against XAUT expected later this year.

Tether is attempting to monetize what has become one of the world’s largely privately held gold reserves. The stablecoin company says it holds around $23 billion worth of physical bullion backing XAUT, with each token representing one troy ounce of gold stored in vaults in Switzerland.

Gold-backed lending is traditionally the realm of central banks, major financial institutions and bullion dealers. Tether and Ledn argue that by tokenizing physical gold, the asset can function more like physical bitcoin as digital collateral, unlocking liquidity without having to sell it.

This follows the model Ledn has used for bitcoin-backed loans for several years. Client collateral continues to be held 1:1, without being lent out or used to generate yield, Ledn said, seeking to draw a line between the services it offers and those of its former rivals that went to the wall in the crypto winter of 2022.

The Stellar cryptocurrency (XLM) has once again started catching the eyes of crypto market analysts due to its long-term market price structure that appears to mimic past price action in previous market cycles.

Despite negative market sentiment and persistent bearishness in the altcoin market, technical analysts claim that XLM is headed toward a major accumulation price level that has historically been seen just before a strong rally. Though there has not been a breakout yet, some analysts see the possibility of the asset being on the verge of its third major price expansion phase.

XLM Reverts to a Common Area for Accumulation

According to CoinMarketCap, XLM is currently trading at $0.17, falling more than 2% in the past 24 hours and around 20% in the last seven days. In spite of the recent dip in prices, the digital coin continues to show positive gains from a monthly perspective.

In one analysis, an analyst argues that XLM has reverted back to the common area from where all previous cycles of macro expansion have commenced. He views the current pattern as positive rather than bearish, since it appears to be another period of accumulation in preparation for a fresh move up. Nevertheless, the most important thing is that the breakout has not happened yet.

Bullish Trend Based on Long-Term Compressions

The current technical setup is the result of consolidation seen for several months, which is more typical of an accumulation pattern compared to distribution. In past market cycles, XLM has spent long periods consolidating in narrow ranges ahead of significant volatility to the upside.

The weakness of selling pressure and the compression of price volatility are two factors that often precede explosive price moves after breaking above resistance.

Rather than exhaustion, the present technical setup seems to illustrate a growing balance between buyers and sellers competing inside a range. With a eventual takeover by buyers, a breakout could spark fresh momentum.

Resistance Levels That Will Define the Future Rally

In the event of a breakout by XLM, analysts have pinpointed key resistance levels that will help define the rally in the next bull phase. The initial target will be to recapture the heights seen early in 2025. Moving above those levels could foster more bullish sentiment and participation.

Moving further, technical analysts see $0.80 as the next key liquidity point, which was the peak level from the last cycle. Breaking above this resistance may shift focus toward the psychologically important $1 level. Though these resistance levels may seem speculative, they align with historical market patterns observed during past expansion phases.

Price Memory Has Been Consistent for Seven Years

One technical analyst highlights one of the most notable aspects of the XLM price chart: its consistent respect for price memory over the past seven years. Across many market cycles, the XLM price chart has repeatedly halted at the same level of historical resistance points before moving higher. Instead of just randomly trading through price levels, the asset continues to show consistency in treating certain points as key checkpoints in its journey upward.

This behavior supports the belief that historical market psychology still impacts XLM’s price movement. The analyst states that XLM is currently consolidating near the bottom end of its trading range. As long as the asset can breach the first resistance level at $0.35, then the path toward $0.63 becomes much clearer for XLM.

Will XLM Make History Once More

As with most aspects of investing and trading, past performance is no indication of future results. However, past price action can provide insight into investor psychology. The respect that XLM continues to show for key historical support and resistance areas creates a roadmap that has been tracked by numerous traders.

Key Takeaways

• GameStop has doubled down on its pursuit of eBay following the online marketplace’s dismissal of its approximately $56 billion combined cash-and-stock proposal
• The unsolicited offer was initially presented by CEO Ryan Cohen in May, with the rationale that a merged entity would pose stronger competition against Amazon
• The company indicated that “additional materials regarding the proposed transaction are forthcoming”
• GME shares finished Friday’s session up 3.57% at $21.76, followed by an additional 1.96% gain to $22.19 during after-hours activity
• The retailer anticipates adjusted EBITDA exceeding $600 million for fiscal 2026, representing substantial growth from the $345.4 million recorded in fiscal 2025

GameStop is refusing to walk away from its ambitious acquisition plans.

The video game specialty retailer submitted a regulatory disclosure on Friday reinforcing its determination to pursue eBay, despite the online auction platform’s previous rejection of the unsolicited proposal. GME shares ended Friday’s regular trading session with a 3.57% gain at $21.76, and continued climbing an additional 1.96% during extended trading hours to $22.19.

GameStop Corp., GME

The proposal, initially put forward in May by CEO Ryan Cohen, places eBay’s valuation at approximately $56 billion — representing a target roughly five times GameStop’s current market capitalization. eBay turned down the offer during the same month it was presented.

GameStop’s Friday regulatory submission was concise. The filing noted that the “leadership team remains focused on advancing the proposed acquisition of eBay” and confirmed that “additional materials regarding the proposed transaction are forthcoming.” Neither a specific timeline nor fresh details were disclosed.

Earlier in the week, GameStop had committed to releasing a comprehensive presentation outlining the strategic justification and operational blueprint for the potential merger. That promised presentation remains unreleased.

Cohen’s rationale has remained unwavering: combining both platforms would establish a more formidable competitor to Amazon. He has additionally indicated his intention to personally lead the merged organization.

eBay declined to provide comment when contacted on Friday.

Financial Performance and Projections

Alongside the acquisition status update, GameStop provided shareholders with its fiscal 2026 financial outlook. The organization forecasts adjusted EBITDA surpassing $600 million for fiscal 2026, representing nearly double the $345.4 million figure achieved in fiscal 2025.

Earlier this month, GameStop announced its most profitable quarterly performance on record — delivering net income of $389.6 million against revenue of $835.3 million, marking a 14% year-over-year improvement.

This financial momentum appears to support Cohen’s acquisition strategy. A more robust balance sheet provides GameStop with enhanced credibility when pursuing an acquisition target as substantial as eBay.

Nevertheless, prediction market platform Polymarket currently assigns just 16% probability to the deal’s completion, with potential shareholder dilution representing a primary concern among doubters.

Looking Ahead

GameStop has not yet published the comprehensive presentation it committed to delivering earlier this week.

The retailer has not clarified what structure a revised offer might assume, or whether it intends to bypass eBay’s board and appeal directly to eBay shareholders.

Currently, the regulatory submission represents the full extent of GameStop’s public stance — a clear declaration that the acquisition proposal remains under consideration, with additional information pending.

GameStop currently holds a 96th percentile ranking for Growth based on Benzinga Edge Rankings, notwithstanding negative performance across short, medium, and long-term investment horizons.

“If you’re looking for a regulated platform built for the long term, we’re excited to welcome you to OKX,” he said. “To celebrate this new chapter, we’re offering one of our biggest welcome campaigns for eligible EEA users, including welcome bonuses and deposit matching of up to 8%.”

Binance emailed its users notifying them the exchange was no longer able to accept new registrations and would restrict services, a spokesperson for the Abu Dhabi-based company told CoinDesk. “Your assets remain safe and secure, and will remain accessible at all times,” the email said.

On Thursday, the company said it withdrew its license application in Greece and would seek authorization in another EU country.

However, in a statement to CoinDesk, Binance said its “ambitions in Europe remain the same, and we are confident we will secure a MiCA licence in the coming months.”

The emails to clients in France, Italy, Poland and Spain come days before a June 30 deadline. Crypto firms must have a MiCA license from at least one EU member state by July 1 to provide services across all 27 member states. Unlicensed firms must wind down their EU activities.

Prediction market transparency is under scrutiny as decentralized platforms like Rain Trade promote open market creation and broader user participation.

Over the past several years, prediction markets have sold themselves as a window into public sentiment, cutting through speculation by putting real dollars behind possible outcomes. But recent news around industry leader Polymarket has raised questions about what happens when the platforms designed to measure public sentiment start influencing the outcomes they’re meant to measure. 

Investigations into the company’s marketing practices have alleged that paid influencers and simulated trades blurred the line between genuine market activity and paid promotion, sparking a broader debate about transparency in the forecasting industry. 

Their credibility depends on users trusting that markets are being created, promoted, and operated fairly. As forecasting platforms continue to grow, questions about transparency are no longer limited to market outcomes but now extend beyond market outcomes to the centralized systems that control them.

As questions around transparency continue to circulate, Rain Trade offers an alternative model for how prediction markets can operate. Built on decentralized infrastructure, the platform enables users to launch prediction markets on virtually any topic, event, or question. These markets can be public, created in any language, or limited to specific communities through invite-only access. The platform also reduces onboarding friction by allowing users to fund accounts across multiple blockchain networks and automatically converting assets to enable USDT trading. 

Rain Trade debuts during the 2026 FIFA World Cup, bringing Mike Tyson in its launch campaign as fans react in real time to goals, injuries, and unexpected moments on the field. Rather than relying on a centralized team to determine which conversations deserve a market, the platform allows users to create forecasts around the moments they believe matter most.

Sharing his perspective on the future of community-driven prediction markets, Roy Shaham, CEO of Rain Protocol, the decentralized protocol layer Rain Trade is built on, explains: “Traditional prediction markets have operated with a backward mentality. They’ve historically focused on controlling what people can predict rather than giving them the opportunity to create markets themselves. Rain Trade is giving users the freedom to decide what deserves a market, and the World Cup is a perfect stage to show how powerful prediction markets can become when they are shaped directly by the communities participating in them.”

The distinction goes beyond market creation. With more attention being put towards how prediction platforms are promoted and managed, Rain Trade’s infrastructure is designed to make market activity visible and verifiable. Market creation, trading activity, and outcomes are recorded onchain, creating a public record that cannot be altered after the fact. 

The platform also supports AI-powered and manual resolution, giving creators flexibility in how outcomes are determined. Market creators are rewarded with 1% of the trading volume generated by their markets, incentivizing users to contribute to the ecosystem rather than relying solely on platform operators.

Recent controversy has shown how quickly confidence can be questioned when users believe a platform has too much control over the system it operates. As the industry continues to grow, platforms that separate infrastructure from oversight may play an increasingly important role in restoring confidence in the category.