Circle rally, EchoStar bankruptcy report, IonQ acquisition
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Here are some of the stories Wall Street is watching on Monday, June 9.
Circle's (CRCL) post-IPO rally has given the Ark Fintech Innovation (ARKF) fund a big boost.
EchoStar (SATS) is considering bankruptcy according to a report from the Wall Street Journal.
IonQ (IONQ) is acquiring a UK quantum startup called Oxford Ionics.
Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute.
It's time for Yahoo Finance's Market Minute. Shares of the Ark Fintech ETF hit the highest level since 2021. The rally led by Circle which has surged nearly 300% since its IPO last week, up about 3% on the day. The ETF's top holdings also include Shopify, Robinhood and Coinbase. The fund is just under 20% so far this year.
And shares of Echostar, the parent company of Dish and Boost Mobile falling. The company is reportedly considering a Chapter 11 bankruptcy filing to protect its licenses from a looming FCC inquiry, according to The Wall Street Journal.
And IonQ shares rising on news that is acquiring UK-based quantum computing startup Oxford Ionics in an over $1 billion deal. The company saying the merger will set a new standard in quantum computing and deliver superior value for customers.
And that's your Yahoo Finance Market Minute. For more on what's trending on Yahoo Finance, scan the QR code below to track the best and worst performing stocks of the session.