Spire Global is trading at $8.69, down -6.09%, amid pressure on technology stocks after hotter-than-expected U.S. inflation revived concerns about higher interest rates.
- Reuters reported that tech stocks drove the broader selloff, while Nasdaq futures fell more than 1% as investors worried about financing costs for AI investments.
- No clear company-specific catalyst was identified. Alliance Global’s October 13 upgrade to Buy was based on the selloff and expected bookings, and was not reported as a cause of today’s move.