Bullish (BLSH) stock surges 84% in first trading day. (00:22) DeepSeek delays launch of new model amid Huawei chip setback: FT. (01:29) Amazon (AMZN) rocks the grocery sector with a major expansion of its same-day delivery service that includes perishable food. (02:16)
Crypto exchange Bullish (NYSE:BLSH) saw its shares close out their first day of trading with an 84% surge after raising $1.1B in an initial public offering.
The stock surged to as high as $117.93 shortly after its market debut — more than triple the IPO price — before paring gains throughout the remainder of the session.
BLSH’s intraday surge comes on the same day ether (ETH-USD) and bitcoin (BTC-USD) prices neared all-time highs.
Bullish’s (NYSE:BLSH) IPO has generated huge windfalls for company insiders. Bloomberg reported, Brendan Blumer, co-founder and board member, has the largest individual stake of 30.1% worth $3.4B. He has granted call options to outside parties covering some 5% of his stake.
Chinese AI firm DeepSeek (DEEPSEEK) has pushed back the launch of its new AI model after hitting obstacles in training it with chips from Huawei Technologies, the Financial Times said.
In June, business publication The Information reported that the new large language model, known as R2, is likely to be impacted by lack of access to Nvidia’s (NVDA) high-end GPUs due to the ongoing U.S. export control curbs.
The report also noted that DeepSeek had not yet chalked in a release date for R2, as CEO Liang Wenfeng was not satisfied with the performance of the model.
DeepSeek most recently released an upgraded version of its R1 large language model, which it claims is performing near the level of OpenAI’s o3 and Google’s (GOOG) (GOOGL) Gemini 2.5 Pro. The new model is dubbed DeepSeek-R1-0528.
Amazon (NASDAQ:AMZN) announced on Wednesday a major expansion of its grocery delivery program. The e-commerce giant said customers in more than 1,000 cities and towns can now order fresh groceries with their same-day delivery orders. Amazon (NASDAQ:AMZN) has plans to expand same-day delivery to over 2,300 across the U.S. by the end of the year.
Notably, Amazon (NASDAQ:AMZN) said it will introduce thousands of perishable food items into its existing logistics network. Customers will have the option to order produce, dairy, meat, seafood, baked goods, and frozen foods, alongside the millions of other items already available for same-day delivery.
Amazon (NASDAQ:AMZN) highlighted that when it began to add perishable groceries like bananas, milk, eggs, bread, and ice cream to its same-day delivery service in regions like Phoenix, Orlando, and Kansas City, customers embraced the convenience.
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Catalyst watch:
Dow, S&P and Nasdaq futures are flat after U.S. stocks advanced to mark new record closes on Wednesday, while the Dow Jones (DJI) ended just 91.77 points away from its record close, as a rally sparked by heightened expectations for Federal Reserve rate cuts continued. Crude oil is up 0.4% at $62/barrel. Bitcoin is down 1.2% at $121,000. Gold is flat at $3,356.
The FTSE 100 is flat and the DAX is up 0.4%.
The biggest movers for the day premarket: Red Robin Gourmet Burgers (NASDAQ:RRGB) +14% – Shares climbed after the company swung to a Q2 net profit of $4M from a year-ago loss and reported a 64% surge in adjusted EBITDA to $22.4M, driven by improved operational efficiencies and margin expansion.
