Wall Street Breakfast Gold still struggling
4 snips
Oct 22, 2025 Gold is feeling the heat as it nears correction territory, causing concerns in the market. Beyond Meat experiences a wild short squeeze, raising questions about its staying power. Meta is making headlines by laying off 600 employees in its superintelligence unit, aiming for streamlined operations. Meanwhile, AT&T shines with strong subscriber gains, while Texas Instruments reports mixed results and cautious outlooks from analysts. Goldman Sachs shares insights on tech spending priorities for the future.
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Precious Metals Momentum Is Fragile
- Spot gold and silver plunged after a historic one-day drop, highlighting fragile momentum in precious metals markets.
- Ole Hansen notes traders are protecting gains, while silver's low liquidity amplifies moves compared with gold.
Pullback Could Be Healthy, Not Catastrophic
- Market technicians see the drop as a protective move by traders rather than the start of a deep correction.
- Spartan Capital's Peter Cardillo views the move as a healthy pullback with potential for recovery by day-end.
Beyond Meat Hit By Extreme Short Squeeze
- Beyond Meat experienced a dramatic short squeeze, rallying roughly 50% today after a near 150% spike on Tuesday.
- Open short interest north of 50% forced heavy covering and drove the stock to be up tenfold from last week's low.