Wednesday confirmed what the market needed to hear: July CPI came in in-line — not hot enough to force a September rate hike, not soft enough to demand cuts. Stocks ended largely higher, gold gained 1%, rate hike bets were pared back, and SpaceX surged 11% on “Wall Street’s bets on Musk’s real-world AI ambitions.” Meanwhile, behind the macro headlines, Definium Therapeutics’ Phase 3 anxiety drug trial hit its primary endpoint — sending DFTX up 18% in a single after-hours session.

Thursday August 13 opens with the PPI report at 8:30 AM ET and closes with Applied Materials (AMAT) earnings — and in between, every stock from Tuesday’s trending list has a story to tell. Here’s the full playbook, with complete support and resistance levels for each name.

Thursday’s Full Market Calendar

#1 — DFTX (Definium Therapeutics Inc.) | The Overnight Reversal — Phase 3 Data Hits After Close August 12

Tuesday August 11 price: $41.12 (-8.93%) | August 12 after-hours: +18% on Phase 3 success

This is Thursday’s most important single-name catalyst story. DFTX fell 8.93% on August 11 — a significant down day. Then, after the market closed on August 12, everything changed.

The August 12 Phase 3 Breakthrough:

Definium Therapeutics (formerly MindMed) announced that its Phase 3 “Voyage” trial for DT120 — an LSD-based treatment for Generalized Anxiety Disorder (GAD) — met its primary endpoint with statistical significance.

GAD by the numbers: Generalized Anxiety Disorder affects approximately 31% of U.S. adults at some point in their lives. Current treatments (SSRIs, SNRIs, benzodiazepines) have significant limitations — slow onset, side effects, and addiction risk for benzodiazepines. An effective single-dose LSD-based therapy with sustained anxiety reduction would address an enormous unmet need.

The Definium pipeline: Beyond DT120 for GAD, Definium’s DT120 is also in Phase 3 for Major Depressive Disorder (MDD), and DT402 (MDMA-based) is in development. Each indication is a separate multi-billion-dollar commercial opportunity.

The key Thursday question: After -8.93% on August 11 and +18% in after-hours on August 12, where does DFTX open Thursday and does the momentum sustain?

#2 — ONON (On Holding AG) | Day 3 of the -20% Selloff — Finding a Floor or Breaking Lower?

August 11 price: $30.96 (-20.16%) | New 52-week low: $30.96 (breaks below prior low of $31.41)

On Holding’s 20% single-session collapse on August 11 is one of the week’s defining moments — and Thursday is the session where the market determines whether it was a justified reset or an overreaction.

The Full ONON Q2 2026 Report:

Why it fell 20% despite beating EPS and improving margins:

• The wholesale channel grew only 4.8% (constant currency) vs. the 34.3% DTC growth — a massive divergence indicating the brand is “deliberately managing wholesale sell-in to protect full-price integrity in a more promotional environment”
• The full-year guidance cut from 23%+ to low-20% growth directly missed Citi’s 24.7% consensus
• CEO David Allemann framed it positively: “We are proving that a brand can achieve global scale without compromising its premium brand positioning” — but the market read “wholesale management” as demand softness

The bullish counterargument:

• DTC +34.3% shows the brand is gaining direct customer loyalty
• Gross margin at 65.4% (up 3.9 ppts) — FULLY absorbing U.S. tariff cost increases
• Avg analyst price target: $52.66 (+35.79% from current $38.78 area — based on pre-crash $38.78 close before the earnings AH move)
• Evercore ISI’s Michael Binetti raised PT to $46 from $42 (Outperform) — even after the miss
• Cash: CHF 1.21 billion — up 18% from year-end 2025

At $30.96, ONON has now established a new 52-week low, breaking below the prior $31.41 floor. This technical breakdown is significant.

#3 — NN (NextNav Inc.) | +24% on Tuesday — Q2 Results Confirmed Debt-Free Status After Close

August 11 price: $19.11 (+23.85%) | Q2 results released after close August 11

NextNav surged 24% during Tuesday’s session on the SpaceX FCC filing — then reported Q2 2026 earnings after the close, adding a second catalyst layer. The stock climbed an additional +15.55% in after-hours to reach $17.83 (different metric; reflects the pre/post-market dynamics).

The SpaceX-FCC Catalyst:

SpaceX filed a letter with the FCC on August 10 calling for strict spectrum use-or-lose rules — and specifically cited NextNav’s 900 MHz proposal as a prime example of spectrum that should face rapid deployment requirements. This is an extraordinary third-party validator:

• SpaceX doesn’t file FCC letters casually
• Specifically naming NextNav’s proposal elevates it from “speculative regulatory play” to “named in a formal regulatory proceeding by the world’s most prominent aerospace company”
• NextNav’s system provides a ground-based 5G backup to GPS — essential for national security, aviation, and autonomous vehicle navigation

The Q2 2026 Results (After-Hours Aug 11):

The GPS backup thesis: NextNav wants to rework part of the lower 900 MHz band to create a ground-based 5G positioning network that backs up satellite GPS — a system vulnerable to jamming and spoofing. The Pentagon, FAA, and public safety agencies have all been briefed. No taxpayer funding required. Spectrum monetization alone is worth tens of billions.

Thursday watch: With Q2 results confirming debt-free status and SpaceX’s FCC endorsement, Thursday’s session will determine whether NN can hold its massive gain or retraces toward $15-16 support.

#4 — NKE (Nike Inc.) | One Session from the 52-Week Floor — Is $40 the Line?

August 11 price: $40.90 (-2.88%) | 52-week low: $40.00

Nike is 90 cents from its 52-week low. That is a number every technical trader on Wall Street is watching.

The Nike Structural Context:

Why the $40.00 level is critical: In technical analysis, when a 52-week low is approached on significant volume (14.77M shares Tuesday vs. average), it creates a binary situation:

• Holds above $40.00: Classic “double bottom” buy signal for momentum traders; the support is confirmed
• Breaks below $40.00: Opens a path to the next major support, which analysts place near $35.00-$36.00 based on longer-term chart structure

The Nike brand rehabilitation problem: Elliott Hill has correctly diagnosed the issues (Wendy’s CEO Bob Wright’s “quality degradation” parallel is apt — both CEOs inherited execution failures). But Nike’s DTC revenue falling 6% for FY2026 while China worsens at -17% shows the turnaround hasn’t reached the scoreboard yet.

Upcoming catalyst: Nike’s Q1 FY2027 report is expected in October 2026. Any pre-October channel checks, wholesale partner data releases, or CEO commentary at investor conferences will be watched closely.

#5 — KOPN (Kopin Corporation) | +25% on August 11 — Defense Microdisplay Breakout Explained

August 11 price: $5.27 (+25.06%) | 52-week high: $6.61 | 52-wk low: $1.68

Kopin Corporation — maker of microdisplay devices and optical solutions for defense, enterprise, medical, and consumer electronics — filed an 8-K on August 10, 2026 that triggered a 25%+ surge.

Why Kopin’s Defense Thesis Is Accelerating:

The defense optics surge context: Kopin’s microdisplay technology is at the center of the military’s next-generation augmented reality battlefield systems. The Archer Aviation-Anduril defense VTOL partnership (announced earlier in August), Trump’s defense budget priorities, and the ongoing Middle East conflict have all elevated spending on advanced optics and targeting systems.

The $6.61 resistance wall: At $5.27 after Tuesday’s +25% move, KOPN is now within 21% of its 52-week high of $6.61. Thursday’s session will determine whether momentum can close that gap — or whether profit-taking after the 25% single-day move brings it back toward $4.50-$5.00.

#6 — RIOT (Riot Platforms Inc.) | +1.34% on Bitcoin at $63,475 — Mining Meets Data Centers

August 11 price: $19.66 (+1.34%) | 52-wk High: $30.32 | 52-wk Low: $11.15

Riot Platforms is one of the largest Bitcoin mining companies in the U.S. — and its stock on Thursday will track two separate narratives simultaneously: Bitcoin’s price and Riot’s emerging AI data center hosting business.

The RIOT Dual Story:

The Bitcoin miner transformation: At $63,475 Bitcoin, Riot’s mining is profitable (Bitcoin mining break-even for major operators is roughly $35,000-50,000 per coin all-in). But the more important story for 2026 is Riot’s pivot from pure mining to hybrid mining-plus-AI-hosting. Berkshire Hathaway’s record earnings, Google’s AI capex, and the general AI infrastructure buildout all increase demand for the exact type of large-scale, power-dense computing facilities that Bitcoin miners already operate.

Thursday watch: Any Bitcoin price movement above or below $63,000 will directly move RIOT. A break above $65,000 BTC could take RIOT back toward $22-23. A fall below $60,000 could test the $17 support.

#7 — XRP (Ripple) | $1.01 — The Psychological Dollar Floor Is Everything

August 11 price: $1.01 (-1.30%) | Market cap: $62.94B

XRP doesn’t have traditional 52-week high/low data from the screen (shown as dashes — because it’s measured differently as a crypto asset), but the psychological data is crystal clear: XRP is one penny above the $1.00 floor.

The XRP Context Heading Into Thursday:

The $1.00 level is everything: $1.00 is not just a round number for XRP — it is a multi-year psychological support level that has repeatedly proven to be the floor during crypto bear markets. At $1.01, XRP is in the most consequential technical position it has occupied all year.

Two scenarios for Thursday:

• Holds above $1.00: The floor confirms; accumulated buyers defend the level; XRP stabilizes or bounces
• Breaks below $1.00: Psychological barrier breach; potential for rapid technical selling toward $0.85-$0.90

Thursday crypto context: Bitcoin at $63,475 and the broader crypto market’s health are the primary drivers. Wednesday’s in-line CPI modestly supported crypto (lower rate hike probability = positive for risk assets).

#8 — BW (Babcock & Wilcox Enterprises) | +3.72% to $9.21 — Nuclear’s Moment Is Now

August 11 price: $9.21 (+3.72%) | 52-wk High: $22.03 | 52-wk Low: $1.17

Babcock & Wilcox’s 3.72% gain on Tuesday reflects the broad nuclear energy renaissance — and the specific AI data center power demand that is forcing a rethink of every power source.

The Nuclear Context Powering BW:

Why nuclear is in the conversation now: When Bloom Energy’s Brookfield deal expanded from $5B to $25B (August 4), it validated the structural power deficit narrative. Microsoft and Google have signed nuclear power purchase agreements. Amazon has followed. Every company that can’t wait years for grid connections is exploring alternatives — and nuclear SMRs are one of the few that can be sited on or near existing industrial land.

The BW risk: The company has historically struggled with execution on large projects and has carried significant debt. The 52-week range of $1.17 to $22.03 tells a story of both opportunity and volatility. At $9.21, BW is a high-beta play on the nuclear rerating.

#9 — CMG (Chipotle Mexican Grill) | -0.59% at $31.95 — Watching for Value in the Correction

August 11 price: $31.95 (-0.59%) | 52-wk High: $44.27 | 52-wk Low: $28.04

Chipotle’s minor Tuesday decline continues a pattern of modest drift lower from its 52-week high — the stock now sits approximately 27.8% below its $44.27 peak and within $3.91 (12.2%) of its 52-week low of $28.04.

The CMG Thesis for Thursday:

| Metric | Data | |———————————|——————– ———————————| | August 11 price | $31.95 (-0.59%) | | 52-week high | $44.27 (February 2026 peak) | | 52-week low | $28.04 ($3.91 from here; 12.2% downside risk) | | Market cap | $40.67 billion | | Recent same-store sales (Q2) | Positive low-single-digit range (tracking CEO’s turnaround) | CEO Brian Niccol status | Still running both CMG and leading the strategic direction|

The food sector context: With ONON (-20%) and Nike (-2.88%) both under pressure from consumer spending concerns, the question for CMG is whether the premium fast-casual consumer can continue to absorb $10+ burritos in an environment where wage growth is slowing and AI is displacing white-collar jobs. The in-line CPI on Wednesday reduces inflation alarm — but the July -23,000 payrolls suggest the consumer is under increasing pressure.

Thursday watch: If Thursday’s PPI (producer prices) comes in softer than expected, food cost inputs for Chipotle fall — a direct margin positive. Watch PPI’s food component specifically.

#10 — RUM (Rumble Group Inc.) | +7.08% to $6.65 — Platform Bets on Political Tailwinds

August 11 price: $6.65 (+7.08%) | 52-wk High: $10.54 | 52-wk Low: $4.62

Rumble’s 7%+ gain on August 11 reflects the ongoing political-platform trade — Rumble benefits from its positioning as the free speech alternative to YouTube, particularly during politically charged periods.

The Rumble Thesis for Thursday:

Why Thursday matters for RUM: With the Iran conflict situation evolving daily, any geopolitical escalation or major news event drives significant Rumble traffic (its users tend to consume news content heavily). The ongoing Middle East situation and any Trump-related developments are direct RUM traffic catalysts.

At $6.65, RUM sits at the midpoint of its 52-week range — neither at peak enthusiasm nor distress. The 7% gain on Tuesday suggests either a specific content or creator partnership announcement, or elevated traffic driven by the week’s news cycle.

The Full August 11 Data Snapshot

Thursday’s Key Watch: AMAT After the Close

Every energy stock, tech name, and semiconductor play on Thursday will be positioning for Applied Materials (AMAT) earnings after the close — one of the most important chip equipment reports of the quarter. AMAT’s results and guidance will tell the market whether TSM’s capex raise to $60-64B (from $52-56B) is translating into actual equipment orders — or whether the AI chip buildout is peaking.

Watch for AMAT’s guidance relative to the $573M Q3 consensus. A raise confirms the semiconductor expansion cycle is intact and will likely lift the entire sector, including RIOT (whose data center transition needs chip equipment) and KOPN (whose defense optics benefit from semiconductor density improvements).

Follow TNN for daily stock market news and financial news today.

Disclaimer: This publication is entirely for informational and journalistic purposes and does not constitute formal financial, investment, or legal advice. Support and resistance levels are technical analysis estimates based on available price history and do not guarantee future price performance. All market investments carry inherent risks of capital loss. Always complete independent due diligence prior to executing equity trades.

PPI release at BLS.gov | DFTX Phase 3 at EDGAR DFTX | ONON earnings detail at investors.on.com | NextNav IR at investors.nextnav.com | AMAT IR at appliedmaterials.com/investors

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Kasia Davis

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