Tesla shares have been getting hammered – but the stock is up today. Why?
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On this episode of Stock Movers:
• Tesla (TSLA) shares ticked slightly higher in premarket trading after President Trump’s tariff announcement Wednesday. The president said there would be "absolutely no tariff" for cars made in the US and Tesla has key factories in California and Texas. However, the EV company could still feel the effects of tariffs for auto parts.
• Robinhood (HOOD) shares rose in premarket trading after the financial services platform introduced several new products at a Wednesday event, including Robinhood Strategies, Robinhood Banking and Robinhood Cortex. Robinhood Strategies is a wealth management service that caps management fees at $250 per year for “Gold” subscribers. Robinhood did not disclose an RIA referral program, but anticipates a more formal announcement around an RIA referral network “in the coming months.”
• Advanced Micro Devices (AMD) shares fell Wednesday morning in premarket after the chipmaker was downgraded to hold from buy at Jefferies, with analysts citing limited traction in artificial intelligence, among other negatives. Jefferies analyst Blayne Curtis also says Wall Street estimates for AMD are too high, while competition from Intel is growing.
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