Stocks sold off to end the week as negative overshadowed solid earnings reports from the mega-cap tech companies, which show the AI trade is alive and well
The ruling comes at a time when Tesla is trying to solidify its position as a leader in autonomous driving technology. In the wake of the verdict, Tesla shares fell by 1.7% on Friday.
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Tesla stock, after initially trading lower on Friday, has recovered to trade flat midday. The early session dip was in line with broader market weakness following a surprisingly soft U.S. jobs report.
Elon Musk, the CEO of Tesla Inc. and SpaceX, donated $15 million to President Donald Trump and the Republican Party, days before he called for the formation of a third party.
MicroStrategy (NASDAQ: MSTR), the business intelligence firm that has famously pivoted into a Bitcoin acquisition vehicle, has reported a stunning Q2 2025 earnings report, showcasing a dramatic swing to profitability largely driven by the appreciation of its substantial Bitcoin holdings. The company posted a net income of $10.02 billion,
Megacap stocks dominate their sectors and their actions influence economies worldwide.
The flip side though is that their sheer size means they have less room for explosive growth as scale works against them.
CNN ground reports showed that small and medium-sized contractors working on Tesla’s Texas Gigafactory and other ventures led by Musk faced delayed or denied payments, prompting some to file for bankruptcy.
