A Nervous Market + Six Stock Market Stories—Apple, Circle, Coinbase, Qorvo, Skyworks Solutions and Volatus Aerospace

Circle and Coinbase Shares Plunge: US Senate Shocks Bitcoin Investors

The crypto market is experiencing another major setback. Shares of Circle Internet Group plummeted by more than 11% at one point on Tuesday and were last trading at USD 86.30. Its market capitalization fell to USD 21.91 billion. Although the stock is still up 3.39% year-to-date, it has lost 35.62% over the past 12 months. Coinbase shares also came under significant pressure.

Coinbase lost about 10% and fell to USD 172.11. This brings the year-to-date loss to 27.24% and the loss over the past year to as much as 47.37%. Its market capitalization now stands at just USD 45.41 billion. Meanwhile, Bitcoin slipped about 4% below the USD 76,000 mark. At one point, the leading cryptocurrency was trading at just under USD 75,000.

The sell-off was triggered by a vote in the US Senate. The so-called Clarity Act was intended to establish, for the first time, a comprehensive legal framework for the USD 2.3 trillion crypto market. Among other things, the bill aimed to clarify when the Securities and Exchange Commission (SEC) and when the Commodity Futures Trading Commission (CFTC) have jurisdiction. Major crypto companies such as Coinbase and Circle could have benefited. However, the bill received only 49 votes. At least 60 votes were needed to move it to full debate. Democratic senators, in particular, called for stricter rules to address potential conflicts of interest around the crypto dealings of US President Donald Trump and his family. Following the failed vote, passage before the upcoming midterm elections has become significantly less likely.

For Circle, this development is particularly critical. The company issues the USDC stablecoin, which is pegged to the US dollar, and relies heavily on reliable regulations for digital payment methods. Coinbase, by contrast, derives most of its revenue from crypto trading, custody, and other digital-asset services. If the regulatory landscape remains unclear, institutional investors could once again postpone making larger investments. Additional selling pressure came from Cathie Wood's ARK Invest, which had already sold more than USD 60 million in crypto assets before the vote.

The charts are also sending warning signals. Coinbase is trading below the 20-day moving average (MA) at USD 178.25 and the 200-day MA at USD 190.55. The 50-day moving average (MA) at USD 165.63 now serves as key support. Circle is trading below the 20-day MA of USD 90.29 and just above the 100-day and 200-day MAs at around USD 85. If this zone is breached, the 50-day MA at USD 75.41 could come into focus.

Bitcoin remains above the 50-day moving average at around USD 71,660 and the 200-day moving average at USD 70,241. In the short term, however, Bitcoin must first reclaim the 20-day moving average at USD 78,308 and then the psychologically significant USD 80,000 mark. Until it does so, Circle, Coinbase, and the entire crypto sector remain vulnerable to further losses.

Volatus Aerospace: Major Milestone Achieved

Volatus Aerospace is significantly raising its profile in the Canadian defence market. The company was initially accepted as a qualified supplier in the Canadian government's Defence Drone Initiative (DDI) Marketplace and, shortly thereafter, certified in all five relevant drone segments. These include unmanned and autonomous systems (UxS/c-UxS), the segment for communications and data, development and integration, testing and training, as well as innovation and experimentation. This full qualification represents a strategic quantum leap for the still-young company, as it confirms the technological breadth of its portfolio through government certification. In an environment of growing defence spending and global drone demand estimated at around USD 160 billion by 2034, this significantly strengthens the group's position within the Western NATO alliance system.

The operational relevance of this classification is already evident in the first call-off. On September 10, 2026, Volatus received a 5-year contract to supply an initial 100 tactical ISR drones to the Canadian Army. The first systems are scheduled for delivery as early as Q4 2026. In addition, there is an option for up to 4,900 additional units, bringing the total to a maximum of 5,000 systems; the total procurement budget is capped at CAD 25 million. Investors, however, should understand the distinction: the additional quantity is not a firm order and therefore does not represent guaranteed revenue. Nevertheless, the contract provides a solid reference point because a political initiative is now becoming a concrete procurement program with industrial implementation.

Fundamentally, the favourable starting position has thus improved further. In the second quarter of 2026, revenue rose to CAD 8.42 million, representing a 49.5% increase compared to the previous quarter. The Equipment segment grew by 38%, and the Services segment by 59%. With cash and cash equivalents most recently totalling CAD 59.2 million, Volatus has the financial flexibility to continue expanding production, integration, and market development in parallel. This aligns perfectly with the company's dual-use strategy, which combines civilian applications with government security and defence contracts. Compared to many pure-play drone developers, this is a clear competitive advantage. Platforms such as SKYDRA, the production facility in Mirabel, Canada, and the Operations Control Centre in Vaughan also increase the likelihood of generating new orders, as everything can be delivered from a single source.

This outlook is now partially reflected in the stock market, though not entirely. With 725,838,256 outstanding shares and a closing price of CAD 0.63 on September 16, 2026, the market capitalization stands at approximately CAD 457 million, which seems ambitious for a company with a still modest revenue level. From a technical analysis perspective, the picture has improved compared to the earlier level of CAD 0.50. The price is trading above the 50-day moving average (MA50) of CAD 0.52 and recently broke above the 200-day moving average (MA200) at CAD 0.62. The support zone between CAD 0.42 and 0.46 remains relevant should profit-taking set in following the recent news flow. On the upside, a break above CAD 0.70 would clear the path toward a new yearly high, with the next major resistance level not expected until around CAD 0.97 to 1.00.

Skyworks Stock Soars: Apple Suppliers Plan New USD 22 Billion Chip Giant

A previously little-known Apple supplier is causing a stir on Wall Street. Shares of Skyworks Solutions jumped by nearly 13% at times on Tuesday and were last trading at USD 88.45. Since the beginning of the year, the stock has gained 37.34%; over the past year, it has risen 21.38%. The company's market capitalization now stands at USD 13.31 billion. The catalyst for the new surge in the share price is the planned merger with the chipmaker Qorvo.

Skyworks produces wireless chips, amplifiers, and filters that are used in iPhones, tablets, Wi-Fi devices, and cars, among other products. Apple is by far the most important customer. In fiscal year 2025, 67% of Skyworks' revenue came from the iPhone maker. This indirectly makes the stock a bet on Apple—with correspondingly great opportunities, but also significant risks.

The merger with Qorvo is expected to create a significantly larger US chip company. Notably, the frequently cited USD 22 billion is not Qorvo's purchase price, but the estimated enterprise value of the combined company. Qorvo shareholders are set to receive USD 32.50 in cash per share, plus 0.96 Skyworks shares. After closing, existing Skyworks shareholders would own about 63% and Qorvo shareholders about 37% of the new company.

Qorvo's stock has also risen sharply. At USD 115.66, the stock is up 34.07% since the beginning of the year and 33.85% year to date. The market capitalization stands at USD 10.20 billion. Combined, Skyworks and Qorvo would generate approximately USD 7.7 billion in annual revenue and an adjusted EBITDA of USD 2.1 billion. In addition to the mobile communications business, data centres, connected devices, automobiles, and the aerospace and defence industries are expected to drive further growth. The merger brings together approximately 8,000 engineers and more than 12,000 patents.

Skyworks CEO Phil Brace provided additional momentum. He recently expressed confidence that the merger could be completed as early as late September or early October. The deal had originally been expected to close in early 2027. In addition, Skyworks anticipates annual cost savings of at least USD 500 million within 24 to 36 months.

From a technical analysis perspective, the picture has also brightened significantly. Skyworks stock is trading well above its 20-day moving average of USD 72.34 and its 200-day moving average of USD 64.47. Qorvo is also trading above its 20-day moving average of USD 100.91 and its 200-day moving average of USD 88.69. However, the steep rise increases the risk of short-term profit-taking.

The biggest risk remains Apple. The company is increasingly developing its own mobile chips and could order fewer components from external suppliers. Added to this are pending approvals and potential integration issues. However, if the merger goes through as planned, two suppliers heavily dependent on the smartphone business could merge into a more diversified chip company. In that case, the current rally might only be the beginning.

Circle Internet Group, along with Coinbase stock, is suffering from the setback in the US Senate, as without a clear regulatory framework, the crypto sector remains too speculative for large investors in the short term. Volatus Aerospace is gaining strategic importance with its DDI certification and its first order from the Canadian Army, and can gradually reduce its valuation premium through continued growth in its order backlog. Skyworks Solutions is benefiting from its planned merger with Qorvo, but despite potential synergies, its heavy dependence on Apple remains a key risk that investors must not overlook.