Key Points To Watch Out For:
- Tesla shares fall 5% following Trump’s criticism of Musk.
- Robinhood rises 3% on new cryptocurrency services.
- Wolfspeed rocketed after filing for bankruptcy to restructure.
Tesla (TSLA): down 5% after Trump’s warning about subsidies
Tesla fell almost 5% in premarket trading. Trump advised reviewing public funds received by Musk, subsequent to further criticism of the “big, beautiful bill.”
Renault (RNO): down 2% on a $11 billion accounting loss
Renault fell as much as 2% in Paris. The automaker will post a $11 billion bookkeeping loss for its stake in Nissan.
Robinhood (HOOD): up 3% on new crypto services
Robinhood gained 3% before the open. It debuted cryptocurrency services to redefine itself as a digital asset hub. On Monday, it rose 13%.
Meta Platforms (META): creates AI superintelligence division
Meta announced a new “Superintelligence” division. Zuckerberg seeks to fast-track the development of advanced artificial intelligence for his platforms.
Wolfspeed (WOLF): rises after filing for bankruptcy to restructure
Wolfspeed spiked in premarket trading. The company initiated bankruptcy to restructure its debt. Its shares had fallen 98% in 2024.
Overview
The day started with declines in automotive and clean energy, while technology and financial services gained thanks to innovations and strategic restructuring.
