What Happened?
Shares of RFID manufacturer Impinj (NASDAQ:PI) jumped 10.1% in the afternoon session after well-known tech investor Dan Niles named the company a top stock to own for 2026, believing it had reached a major turning point.
Niles highlighted that Impinj, a leader in RFID technology, was at an inflection point as its chip prices dropped to a penny apiece. He noted this development allowed for expansion from the apparel sector into the much larger food and grocery market, with adopters like Walmart. The bullish outlook was supported by news suggesting new applications for RFID technology. Specifically, a recommendation was made for the South Korean military to adopt an RFID system for handling firearms to prevent accidents, indicating a potentially expanding market for the company's products.
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What Is The Market Telling Us
Impinj’s shares are extremely volatile and have had 39 moves greater than 5% over the last year. But moves this big are rare even for Impinj and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 1 day ago when the stock dropped 6.3% on the news that rising geopolitical tensions between the US and Europe over control of Greenland sparked a broad, risk-off mood in asset markets.
The sell-off was fueled by President Trump's push for the U.S. to acquire Greenland, reviving fears of trade confrontations and new tariffs against European allies. The tech-heavy Nasdaq index saw significant declines, with the "Magnificent Seven" technology stocks, Nvidia, Apple, Alphabet, Amazon, Meta, Microsoft, and Tesla, all sliding to start the week. This widespread downturn among major tech players weighed heavily on the overall market as investors reacted to the escalating political rhetoric.
Impinj is down 5% since the beginning of the year, and at $170.74 per share, it is trading 29.4% below its 52-week high of $241.91 from October 2025. Investors who bought $1,000 worth of Impinj’s shares 5 years ago would now be looking at an investment worth $2,839.
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