{"id":52115,"date":"2025-08-20T17:38:49","date_gmt":"2025-08-20T21:38:49","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/market-movers-palantirs-plunge-playstation-price-hike-and-political-plays-impact-tech-and-retail\/52115\/"},"modified":"2025-08-20T17:38:49","modified_gmt":"2025-08-20T21:38:49","slug":"market-movers-palantirs-plunge-playstation-price-hike-and-political-plays-impact-tech-and-retail","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-palantirs-plunge-playstation-price-hike-and-political-plays-impact-tech-and-retail\/52115\/","title":{"rendered":"Market Movers: Palantir&#8217;s Plunge, PlayStation Price Hike, and Political Plays Impact Tech and Retail"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Palantir Technologies (<a href=\"\/stock\/PLTR\">PLTR<\/a>)<\/strong> has seen a significant <strong>$73 billion<\/strong> wipeout in market value over a six-session losing streak, marking a rare win for short sellers.<\/li>\n<li><strong>Sony (<a href=\"\/stock\/SONY\">SONY<\/a>)<\/strong> is increasing the price of all <strong>PlayStation 5<\/strong> models by <strong>$50<\/strong> in the U.S. starting August 21, citing a &quot;challenging economic environment&quot; and <strong><a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>-era tariffs<\/strong>.<\/li>\n<li><strong>Microsoft (<a href=\"\/stock\/MSFT\">MSFT<\/a>)<\/strong> is facing internal dissent as activist employees were detained protesting the company&#39;s business ties with the <strong>Israeli military<\/strong>, specifically concerning the use of its Azure cloud services for surveillance.<\/li>\n<li>U.S. Senator <strong>Bernie Sanders<\/strong> has expressed support for a <strong><a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> administration plan<\/strong> to convert government grants to chipmakers, including <strong>Intel (<a href=\"\/stock\/INTC\">INTC<\/a>)<\/strong>, into equity stakes.<\/li>\n<li><strong>Air Canada (<a href=\"\/stock\/AC.TO\">AC<\/a>)<\/strong> is offering reimbursement assistance to passengers impacted by recent labor action, following a tentative deal with flight attendants.<\/li>\n<\/ul>\n<p>A turbulent day across markets saw significant movements in major tech, retail, and airline sectors, driven by corporate actions, political developments, and ongoing economic pressures.<\/p>\n<p><strong>Palantir&#39;s (<a href=\"\/stock\/PLTR\">PLTR<\/a>)<\/strong> stock has experienced a sharp decline, shedding an estimated <strong>$73 billion<\/strong> in market value over a six-session losing streak. This downturn has provided a rare opportunity for short sellers, who have faced considerable pressure betting against the data analytics firm, which was previously considered a &quot;Wall Street juggernaut&quot; this year.<\/p>\n<p>In the gaming industry, <strong>Sony (<a href=\"\/stock\/SONY\">SONY<\/a>)<\/strong> announced a <strong>$50 price increase<\/strong> for all <strong>PlayStation 5<\/strong> models in the U.S., effective August 21. The company attributed this decision to a &quot;challenging economic environment&quot; and the impact of <strong>Trump&#39;s tariffs<\/strong> on imported products. The new prices will see the standard PlayStation 5 at <strong>$549.99<\/strong>, the Digital Edition at <strong>$499.99<\/strong>, and the PlayStation 5 Pro at <strong>$749.99<\/strong>, though accessories will remain at their current prices. This follows earlier price hikes for the console in other international markets.<\/p>\n<p>Meanwhile, <strong>Microsoft (<a href=\"\/stock\/MSFT\">MSFT<\/a>)<\/strong> faced internal protests at its Redmond, Washington headquarters, where activist employees and their supporters were detained. The demonstrations were held to demand that the software giant sever its business ties with the <strong>Israeli military<\/strong>, specifically concerning allegations that its Azure cloud services are being used for surveillance operations against Palestinians. Police reportedly dispersed the protests, citing trespassing.<\/p>\n<p>On the political front, U.S. Senator <strong>Bernie Sanders<\/strong> voiced support for a <strong>Trump administration proposal<\/strong> to convert government grants provided to chipmakers, including <strong>Intel (<a href=\"\/stock\/INTC\">INTC<\/a>)<\/strong>, into equity stakes. This plan could significantly alter the relationship between the government and key players in the semiconductor industry.<\/p>\n<p>In the airline sector, <strong>Air Canada (<a href=\"\/stock\/AC.TO\">AC<\/a>)<\/strong> is offering reimbursement assistance to passengers whose travel plans were disrupted by recent labor action involving its flight attendants. The airline has reached a tentative deal with the union representing over 10,000 flight attendants, leading to the resumption of flights. Passengers who booked directly with Air Canada and incurred costs for alternative transportation may be eligible for reimbursement.<\/p>\n<p>Finally, <strong>Target (<a href=\"\/stock\/TGT\">TGT<\/a>)<\/strong> is embarking on a crucial comeback effort under its new CEO, <strong>Michael Fiddelke<\/strong>. The retail giant faces the challenge of winning over skeptical investors and regaining customer loyalty amidst declining sales.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Palantir Technologies (PLTR) has seen a significant $73 billion wipeout in market value over a six-session losing streak, 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