Fermi is down more than 18% in premarket trading after it disclosed in regulatory filings that its now-former CEO, Toby Neugebauer, and CFO, Miles Everson, departed on Friday and Monday, respectively.

The company dubbed its executive shakeup as “Fermi 2.0." In addition to ousting Neugebauer and Everson, Fermi added Marius Haas as chairman of it board and Jeffrey S. Stein as director of the board.

Fermi, which was cofounded by former Energy Secretary Rick Perry, plans to build nuclear energy infrastructure to power data centers. But the cost to build out its power site is mounting while it still doesn’t have any customers secured, according its annual report released on March 30.

In September, Fermi announced that it had entered into a non-binding letter of intent with a tenant to lease a portion of its Project Matador power grid site in Amarillo, Texas. That contract was terminated in December.

The company, which went public in October, is down about 75% from its IPO through Friday's close.

AST SpaceMobile dropped 13% in premarket trading on Monday after the space internet company updated that its BlueBird 7 satellite, carried by Blue Origin’s New Glenn vehicle, was put into an incorrect position and will now be taken out of orbit.

“During the New Glenn 3 mission, BlueBird 7 was placed into a lower than planned orbit by the upper stage of the launch vehicle. While the satellite separated from the launch vehicle and powered on, the altitude is too low to sustain operations with its on-board thruster technology and will de-orbited. The cost of the satellite is expected to be recovered under the company’s insurance policy,” said the company in a press release.

Launched Sunday, April 19, BlueBird 7 would have been AST SpaceMobile’s eighth deployed satellite into low-Earth orbit as it races to catch up with SpaceX’s Starlink to put up the first satellite constellation capable of providing 5G connectivity anywhere in the world. The company continues to target approximately 45 satellites in orbit by the end of the year. (For context, SpaceX currently has deployed more than 9,500 satellites deployed since 2019, though ASTS’ network plans to depend on less than 100 larger, more sophisticated satellites that individually gathers signals more efficiently than Starlink’s mega constellation model.)

The incorrect positioning of the launch vehicle from Jeff Bezos’ Blue Origin rocket New Glenn has been blamed for the failure, though the cost of the satellite is expected to be recovered under AST SpaceMobile's insurance policy.

For Blue Origin itself, the mission did have one major silver lining as it successfully re-used one of its New Glenn rockets for the first time ever, per TechCrunch. The New Glenn model was the result of a decade-long, multi-billion dollar development and was hampered by delays last year. However, as one of the largest reusable vehicles in the world alongside SpaceX’s Falcon 9, it’s also seen as a key way that Bezos’ company can challenge Elon Musk’s outer space supremacy.

Separately, Bezos’ main company and the source of the bulk of his wealth, Amazon, announced last week that it was acquiring Globalstar in a move to join the direct-to-device competition starting 2028.

Bitcoin finally broke out of the tight range it’s been stuck in for weeks, rising to just below the $78,000 mark, a level not reached since early February, as risk-on sentiment floods back into the market.

The jump comes on the heels of Iran and the US announcing the reopening of the Strait of Hormuz on Friday morning, which sent oil prices down and the stock market higher.

The renewed optimism for a deal with Iran and the end of the Middle East conflict also sent crypto stocks jumping, with Strategy, the largest corporate bitcoin holder, up more than 13% late Friday morning.

Wave Digital Assets’ head of international portfolio management, Rajiv Sawhney, told Sherwood News that it’s all about the Strait of Hormuz. “Markets are interpreting it as a win. It’s a knee-jerk reaction given positioning and expectations. As such, while bitcoin was able to tick higher, the $80K level will be the real barometer we need to cross for me to feel confident that this relief rally has legs,” he said, adding that until then, he’s remaining cautiously optimistic that risk assets can close at these levels. 

Nic Puckrin, cofounder of Coin Bureau, told Sherwood that we’re seeing a classic short squeeze as heavy short positions in bitcoin are being liquidated, adding that the next resistance level to watch is $79,000. 

“If we get past that and close the week above this level, $90k becomes a real possibility in the medium term. However, if the rally gets rejected at this level, we could remain stuck in the range between $65k and $75k that held bitcoin hostage for months,” Puckrin added.

Underscoring the cautious comeback, Bloomberg reported that from a derivatives market perspective, “traders remain largely defensive.”

“Funding rates for perpetual futures contracts, a key measure of whether leveraged traders are betting on higher or lower prices, were negative. Hefty premiums are also being paid for put options providing downside protections at $60,000 and $50,000, respectively,” Bloomberg reported.

Bitfinex analysts told Sherwood that the liquidation heat map shows dense shorts leverage stacked between $76,000 and $78,000. 

“Clearing this range opens a substantial air gap in the unspent realized price distribution up to $82,000,” they said, adding that the next level they are watching is $83,000, a “significant wall at the short-term holder realized price.”

Intel’s surge of nearly 60% this month has the iconic American chipmaker’s stock price approaching levels last seen during the dot-com era. Bloomberg noted that shares just touched their highest intraday level since the turn of the century:

“The stock rose as much as 1.5% to $69.55, topping a peak it hit on Jan. 24, 2020. The shares are up 90% this year, after soaring 84% in 2025. Intel is now roughly 8% from its all-time closing high of $74.88, established on Aug. 31, 2000.”

That’s just the most recent late-’90s-era throwback we’ve been seeing in tech shares lately. Oracle is currently pacing for its best week since late 1999.

What’s even more remarkable, however, is that Intel’s forward price-to-earnings ratio today dwarfs the premiums the market was putting on the stock during the nuttiness of the dot-com mania.

That reflects the fact that the recent run-up in Intel shares is, essentially, giving the chip giant credit for a massive turnaround that hasn’t actually happened yet.

One also might wonder if the fact that Intel is partially owned by the US government means it’s more attractive — and therefore worth a higher premium — than other chipmakers without the state imprimatur.

Still, kind of startling.

Critical Metals is up more than 25% in premarket trading on Friday after the critical mining company announced that it now owns 92.5% of the Tanbreez rare earth deposit following an approval from the government of Greenland.

With that latest government support, Critical Minerals added an additional 50.5% stake to its ownership, reportedly acquired from Rimbal Pty Ltd, per Bloomberg News. With access to eight heavy rare earth elements often used in consumer electronics and defense, the site is one of the world’s largest undeveloped rare earth deposits and a key source of rare earth supply outside of China, according to the company.

In Critical Metals’ press release, Chairman Tony Sage commented that the approval “removes the most significant structural overhang on the project and provides the clarity to advance Tanbreez to production with confidence,” especially as Tanbreez’s location offers a significant logistical advantage through its year-round direct shipping access, compared to rival projects.

With 92.5% of the project now vested in Critical Metals Corp., and the remainder owned by European Lithium Ltd., CRML now has full control of the project and is seeking to accelerate development there, with plans for a new international airport and a “150-tonne bulk sample program,” which is slated for June 2026.

Apple’s iPhone shipments in China jumped 20% last quarter, even as the country’s overall smartphone market fell 4%, according to new data from Counterpoint Research. Rising memory costs have pushed prices higher across the industry, weighing on demand.

Apple appears poised to ride out the broader smartphone slump. Its strength at the less price-sensitive high end of the market and its unusual leverage over suppliers, which helps keep costs in check, give it an edge over rivals.

Greater China remains a critical region for Apple, making up about 18% of its total revenue in the fourth quarter. The company accounted for 19% of China’s smartphone market in the first quarter, up from 15% a year earlier, per Counterpoint.