The stock market experienced a significant sell-off on Thursday, driven mainly by heavy selling in technology, AI, and semiconductor stocks, alongside concerns about data center investments and market valuations. Investors are worried that new political leadership could slow data center construction.
Overall, S&P 500 fell 4.4% to 7,354, while Nasdaq slid 5.5% to 24,315.
Chart of the Day
Here is the one-year chart of Enova (ENVA) as of October 29, 2026, when the stock was at $182.
Last quarter, ENVA stock suffered a significant selloff following a setback in its proposed acquisition of Grasshopper Bancorp. The company withdrew its regulatory applications after encountering uncertainty surrounding the approval process for nonbank companies seeking to acquire banking institutions. The proposed $369 million acquisition was expected to provide Enova with access to lower-cost funding, greater lending flexibility, and significant earnings growth.
Following the announcement, ENVA shares fell 23% in one trading session.
Now with a P/E of just 9, the stock is a great value. However, the shares might need some time to regroup.
ENVA is part of the Growth Portfolio.
