Rivian jumps 7.7% at the close while semiconductor stocks sink hard
As seen on the 24/7 Wall St. homepage on July 2, 2026.
Rivian and Netflix surge on the close while semiconductor and optical networking stocks crater, with Applied Optoelectronics down 17.35% leading the wreckage.
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Rivian (RIVN) led the gainers with a 7.68% gain to $18.50, while Netflix (NFLX) added 5.32% to close at $78.14. Samsara, Bill Holdings, and Workday rounded out the winners, each climbing between 4.7% and 5.4% on the session.
The selling was sharper on the other side of the ledger. Applied Optoelectronics (AAOI) was the hardest hit, tumbling 17.35% to $114.89. SanDisk fell 16.34% to $1,700.21, Navitas Semiconductor shed 14.91% to $14.07, and Cipher Mining dropped 14.43% to $19.55 — a broad and steep selloff concentrated in semiconductor and optical networking names.
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The split between strong software and consumer names on the upside and hard-hit chip and optical stocks on the downside reflects a notably uneven close on July 2, 2026. Investors watching these sectors will want to track whether the pressure in semiconductor and optical networking names carries into the next session.