Stocks

Today’s Stocks to Watch: Tesla, Coinbase, and Trump Media

November 11, 2024 OnEquity

Key Points To Watch Out For:

  • Coinbase, Tesla and other crypto-linked stocks show big rally after Trump victory
  • Trump Media and its affiliates push the so-called “Trump trade”
  • Ernst & Young’s exit has a negative impact on Super Micro Computer

Coinbase (COIN), MicroStrategy (MSTR) and Robinhood (HOOD) Lead Gains Amid Bitcoin Surge

Stocks linked to cryptocurrencies rallied in pre-market trading, driven by Bitcoin’s surge past $80,000. The cryptocurrency market has entered a frenzied state following Donald Trump’s election victory, with investors speculating on a more favorable regulatory environment for digital assets under the new administration. Coinbase rose sharply, along with MicroStrategy, known for its significant Bitcoin holdings, and Robinhood, which benefits from retail cryptocurrency trading.

Trump Media Surges Following Election Victory

The parent company of the president-elect’s social network surged in pre-market trading, continuing the trend known as the “Trump trade.” This phenomenon sees specific sectors and companies aligned with Donald Trump’s political and economic agendas experiencing growth during his periods of political prominence. Investors anticipate that Trump’s policies will provide advantages to businesses tied to his administration’s interests. Analysts suggest that this bullish momentum for Trump Media could persist, particularly if the incoming administration announces new economic policies favorable to the tech and media industries.

Tesla Rises on Speculation of Pro-Business Policies

Tesla saw a pre-market rise of approximately 6%, driven by expectations of supportive policies under the new administration. Elon Musk, an outspoken ally of Trump, is anticipated to leverage this political landscape to further expand Tesla’s presence in tech and energy sectors. Analysts predict that potential tax incentives or infrastructure investments could significantly benefit Tesla’s operations in renewable energy and electric vehicles.

Super Micro Computer Faces Decline Amid Auditor Concerns

In contrast, Super Micro Computer faced a drop in after-hours trading. The decline followed Ernst & Young’s resignation as the company’s auditor last month, raising concerns about market confidence. Super Micro Computer, a key player in artificial intelligence server manufacturing, is now under scrutiny. Analysts caution that without the swift appointment of a new auditor, investor sentiment may continue to deteriorate, exacerbating the stock’s downward trend.

Related posts

Markets, Stocks

U.S stock futures fall; Cook’s dismissal raises doubts over Fed independence

August 26, 2025 OnEquity

U.S. stock index futures slipped on Tuesday following President Donald Trump’s abrupt dismissal of Federal Reserve Governor Lisa Cook, fueling concerns over the central bank’s independence. At 05:55 ET (09:55 GMT), Dow Jones Futures declined 70 points, or 0.2%, S&P 500 Futures lost 6 points, or 0.1%, and Nasdaq 100 Futures eased 19 points, or […]

Markets, Stocks

Today’s Stocks to Watch: Intel, Disney, and PDD

August 25, 2025 OnEquity

Key Points to Watch Out For: Keurig Dr Pepper (KDP) and JDE Peet’s (JDEP): $18B Acquisition Keurig Dr Pepper announced an $18 billion deal to acquire the owner of Peet’s Coffee, ahead of the planned spin-off of its coffee brands. JDE Peet’s shares surged 17% on the news, while Keurig Dr Pepper slipped 2% in […]

Markets, Stocks

Today’s stocks to watch: Lowe’s and Toll Brothers

August 20, 2025 OnEquity

Key Points to Watch Out For: Lowe’s (LOW), TJX (TJX), Target (TGT) and Analog Devices (ADI): Reports before the open Lowe’s is set to release results before the bell. TJX, the parent of T.J. Maxx, will also report ahead of the open. Target is due to publish its earnings before the open, as is Analog […]