🚗 Used cars just got hotter

Good evening. Stocks dipped Thursday as investors reacted to Trump’s latest round of tariffs, this time targeting foreign-made cars. Some of Trump’s comments hinted the tariffs may not be as harsh as expected, but the back-and-forth has left investors uneasy.

WINNERS

⬆︎37.61% Soleno

The FDA approved a new drug that treats constant hunger caused by a rare condition called Prader-Willi syndrome. The approval wasn’t easy; Soleno had to prove the drug worked by taking patients off it and showing their hunger came back. (IBD)

⬆︎20.49% Avis Budget

Trump’s new auto tariffs could push new car prices higher, which is good news for rental companies like Hertz and Avis. Their cars are already in the U.S., so they won’t get hit with the extra costs when it’s time to sell them. As buyers turn to used cars instead, those rental fleets suddenly look a lot more valuable. (Fast Company)

⬆︎7.60% Rivian

The EV maker is spinning off its e-bike and scooter efforts into a new company called Also. The move lets Rivian stay focused on its main electric trucks and SUVs, while Also takes on the growing market for smaller electric vehicles. (Business Wire)

⬆︎⬇︎ 1-day change
Market data: today’s market close

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LOSERS

⬇︎3.21% AMD

A Jefferies analyst said the company is falling behind in the race to power artificial intelligence. Tests showed AMD’s AI chips don’t perform as well as Nvidia’s older models, and the analyst warned that Nvidia’s lead is only going to grow with its next-generation chips. (IBD)

⬇︎7.36% General Motors

Trump’s new 25% auto tariffs are shaking up the car industry, and some carmakers are hit harder than others. Tesla and Ford look mostly safe since they build a lot in the U.S., though Ford still brings in some parts. GM could take the biggest hit, with more of its cars made in Mexico. (CNBC)

⬇︎9.88% Jefferies

🛎️ Earnings report - Speaking of the devil. Well, AMD’s devil. The investment bank said tough market conditions and uncertainty around trade and global events made things harder last quarter, with fewer big deals like IPOs and mergers hurting results. (Baystreet.ca)

⬇︎20.12% Applovin

Short seller Muddy Waters accused the mobile advertising platform of inflating its growth by mostly targeting repeat customers instead of bringing in new ones. It also accused it of breaking platform rules by collecting user data in questionable ways. (Wall Street Pit)

⬆︎⬇︎ 1-day change
Market data: today’s market close

EXTRA

STOCKTWITS

You can track these stocks on Stocktwits using the following symbols: $SLNO ( ▼ 6.49% ), $CAR ( ▼ 4.7% ), $RIVN ( ▼ 2.78% ), $AMD ( ▼ 8.57% ), $GM ( ▼ 3.75% ), $JEF ( ▼ 10.03% ) & $APP ( ▼ 16.27% ).

THE END

That’s it for today’s recap. We hope you found it valuable.

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