Cloudflare surges 7.8% as energy gains and semis get hammered at the close
As seen on the 24/7 Wall St. homepage on July 7, 2026.
Cloud and energy rallied while growth stocks crumbled, with Cloudflare up 7.8% and Exxon Mobil up 3.9% as Rivian imploded 16.6% and semiconductor names got hammered.
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The session's gainers were split between cloud software and traditional energy. Cloudflare (NET) led the way, climbing 7.8% to $266.90, while DigitalOcean rose 5.5% to $138.65 and Asana added 5% to close at $7.57. On the energy side, Diamondback Energy gained 4.3% to $181.14 and Exxon Mobil added 3.9% to $141.69, giving oil and gas investors a notably strong close.
The losses were steep and concentrated in growth and semiconductor names. Rivian (RIVN) was the day's biggest decliner, shedding 16.6% to land at $16.80, a sharp single-session move for the electric vehicle maker. Astera Labs fell 13.8% to $373.22, SanDisk dropped 10.7% to $1,557.92, Joby Aviation slid 9.8% to $8.05, and Navitas Semiconductor lost 9.7% to $13.76 — a broad and punishing sweep across semiconductor and speculative growth names.
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The day's rotation was striking in its clarity: investors appeared to move away from high-multiple, high-growth technology and EV plays and toward more defensive or cash-generating names in cloud infrastructure and energy. Whether that reflects a broader sentiment shift or a single-session reaction remains to be seen, but the spread between the top gainers and top losers was unusually wide.
Mentioned: XOM, NET, FANG, RIVN, ALAB, JOBY, SNDK, ASAN, DOCN