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  • 👑 Robinhood Is Taking Over

👑 Robinhood Is Taking Over

+ Trump Plans to Impose 25% Tariff on Imported Vehicles

March 27, 2025

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Good afternoon! Rivian just gave birth to a new startup called Also, focused on micromobility—and it’s already riding off with $105 million in funding. The 70-person team, made up of ex-Apple, Tesla, and Uber talent, spun out of a secret Rivian skunkworks and plans to debut a sleek, bike-like EV next year.

While the design is still hush-hush, Also will lean on Rivian’s tech and supply chain to drop prices in a market where e-bikes often hit $6K+. The company’s ambitions go far beyond the weekend cyclist—it’s aiming at global commercial fleets too, betting that dense cities need smaller, smarter rides.

MARKETS

  • Stocks took a hit Thursday as President Trump’s surprise 25% auto tariff announcement sent markets into a spin. The S&P 500 slipped 0.3%, the Dow fell 0.4%, and the Nasdaq led the slide with a 0.5% drop, as investors struggled to price in the potential economic fallout.

  • The tariffs, aimed squarely at imported cars, could hike vehicle prices by up to 12%, with fewer options for U.S. buyers. While the United Auto Workers applauded the move, Wall Street is bracing for the next curveball: Friday’s PCE inflation report and what it might mean for the Fed’s May meeting.

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STOCKS
Winners & Losers

What’s up 📈

  • Concentrix surged 42.38% after crushing earnings and revenue expectations for Q1, sparking a strong investor response. ($CNXC)

  • Soleno Therapeutics soared 37.61% after receiving FDA approval for VYKAT XR, a treatment for hyperphagia in Prader-Willi Syndrome patients. ($SLNO)

  • Petco Health and Wellness jumped 31.56% after issuing a fiscal forecast that beat expectations. ($WOOF)

  • Avis Budget Group spiked 20.49% and Hertz Global Holdings followed with a 22.61% gain, both riding the wave of Trump’s new auto tariffs boosting rental demand. ($CAR, $HTZ)

  • Winnebago Industries rose 8.11% after topping earnings expectations, even as it lowered full-year guidance. ($WGO)

  • Liberty Energy added 5.19% on an upgrade from Morgan Stanley, who cited its exposure to data center and power demand growth. ($LBRT)

  • MicroStrategy (Strategy) gained 5.20% as it issued new securities to fund more bitcoin purchases. ($MSTR)

  • Dollar Tree gained 11.18% after announcing it would offload Family Dollar for $1 billion. ($DLTR)

  • Alibaba rose 2.56% after launching a new open-source AI model. ($BABA)

What’s down 📉

  • GameStop plummeted 22.11% after announcing plans to raise $1.3 billion in debt to buy bitcoin. ($GME)

  • TD Synnex dropped 14.28% after missing Q1 estimates and guiding lower for Q2. ($SNX)

  • Verint Systems fell 13.37% after a Q4 miss and weak full-year guidance. ($VRNT)

  • Jefferies Financial Group lost 9.85% after disappointing fiscal Q1 earnings. ($JEF)

  • Sarepta Therapeutics dropped 27.44% following news of a patient death tied to its gene therapy. ($SRPT)

  • Kyndryl slipped 5.11% after short seller Gotham City Research alleged concerns over IBM costs. ($KD)

  • Bausch + Lomb fell 4.28% after announcing a voluntary intraocular lens recall. ($BLCO)

  • Advanced Micro Devices dropped 3.21% after a downgrade by Jefferies due to competition risks. ($AMD)

  • General Motors sank 7%, Ford fell 4%, and Stellantis dipped 1% as Trump’s new 25% tariff on foreign-made cars looms. ($GM, $F, $STLA)

FINANCE
Robinhood Wants to Be Your Everything—Not Just Your Meme Stock App

Robinhood’s meme-stock era may be fading, but the company isn’t. The trading app that brought zero-commission investing to the masses now wants to manage your entire financial life. This fall, Robinhood will launch checking and savings accounts, wealth management, AI investing tools, and even luxury perks—all bundled into its $5/month “Gold” membership.

Banking on Growth

Robinhood Banking will offer high-yield savings (around 4% APY), estate planning, and same-day cash delivery. It won’t technically be a bank, but it’ll partner with FDIC-backed Coastal Community Bank. What sets it apart? Think concierge-style services usually reserved for private banking: discounted helicopters, Oscars tickets, Coachella access, and a digital dashboard tracking your net worth.

Gold Gets the Glitter

With 3.2 million Gold members already signed up (more than double last year), Robinhood is positioning its membership as the Amazon Prime of finance. Wealth management tools—like Robinhood Strategies—will offer curated ETF portfolios, capped at $250/year in fees. Soon, Robinhood’s AI engine Cortex will give users custom investment insights and options trade suggestions.

The median age of Robinhood users has climbed to 35. And as users age, the company wants to age with them—offering tools for long-term planning, not just short-term trades. CEO Vlad Tenev’s bet? That Robinhood’s all-in-one ecosystem can rival the likes of Schwab, Fidelity, or Bank of America—especially for mobile-native investors who’ve never walked into a bank branch.

From Meme to Mainstream

Robinhood is also leaning into flashier features like sports event contracts and crypto expansion, while beefing up its fintech muscle. Its stock is up 19% this year after tripling in 2024, boosted by the crypto surge and renewed investor confidence.

Tenev summed up the company’s vision best: “We want to be the place where you can buy, sell, trade, hold any financial asset, conduct any financial transaction.” In other words, Robinhood’s not just after your trades anymore—it’s after your wallet.

NEWS
Market Movements

  • 🚀 CoreWeave Prices IPO at $40, Raising $1.5B in Biggest Tech Debut Since 2021: CoreWeave priced shares below its expected range at $40, raising $1.5 billion and securing a valuation near $19 billion. The company provides access to Nvidia GPUs for AI workloads and has major customers like Microsoft and Meta. Despite cutting the share offering from 49M to 37.5M, the IPO is seen as a bellwether for the tech IPO market, with shares set to debut under the ticker “CRWV”.

  • 📉 AppLovin Drops 20% as Third Short Seller Flags Ad Practices: Shares of AppLovin plunged 20% after Muddy Waters became the third short-seller to allege the company is violating app store terms. The firm claims AppLovin is secretly extracting user data to serve targeted ads without consent. Despite being 2024’s best-performing U.S. tech stock with a 700% gain, AppLovin is now down 19% in 2025. ($APP)

  • 🧘 Lululemon Shares Fall 10% on Weak 2025 Guidance Despite Earnings Beat: Lululemon posted better-than-expected Q4 earnings, with EPS of $6.14 on $3.61 billion in revenue, but offered underwhelming 2025 guidance. The CEO said inflation and economic concerns are impacting U.S. traffic and consumer spending, leading to a cautious forecast. The company is expanding into Europe but expects margin pressure from tariffs and currency effects. ($LULU)

  • 🤖 OpenAI Projects $12.7B Revenue in 2025, SoftBank Eyes $40B Investment: OpenAI expects its revenue to triple next year, fueled by enterprise adoption and key partnerships. Meanwhile, SoftBank is reportedly planning a $40 billion investment at a $260 billion valuation, reflecting intense investor interest in AI infrastructure. The company still does not expect cash-flow positivity until 2029. ($SFTBY)

  • 🏠 Mortgage Applications Surge 80% at Bank of America: Bank of America reported a massive 80% spike in Q1 mortgage applications, helped by falling bond yields and rising housing inventory. UWM Holdings expects up to $35 billion in originations this quarter and is expanding staff to keep up with demand. The uptick signals renewed activity in the housing market after a sluggish 2024. ($BAC, $UWMC)

  • ✈️ Airline Stocks Down 15% YTD as Carriers Cut Capacity: U.S. airline stocks have fallen around 15% year-to-date as demand softens due to economic headwinds. Delta and United shares are down roughly 20%, prompting both companies to reduce Q2 flight capacity to preserve profitability. The move reflects broader concerns about margin pressure in the travel industry. ($DAL, $UAL)

  • 🤖 U.S. Robotics Firms Call for National Strategy to Counter China: American robotics companies are lobbying Congress for a national robotics plan and a dedicated federal office to support development. China has already poured $138 billion into its robotics and AI sectors, creating a major global competitive gap. Industry leaders warn that without policy action, the U.S. risks falling behind.

AUTO
Trump Plans to Impose 25% Tariff on Imported Vehicles

President Trump just threw a wrench into the global auto market. In a surprise move Wednesday, he signed off on a 25% tariff on all foreign-made cars—set to kick in April 3. And he’s not stopping at the chassis. By May 3, the same levy will apply to key car parts like engines and transmissions, which could send shockwaves across the entire supply chain.

The president called the tariffs “permanent,” promising no exemptions and projecting a cool $100 billion in new annual revenue. According to Trump, it’s all about bringing manufacturing back home—but critics say it’s more likely to bring sticker shock to car buyers.

Global Fallout Incoming

The backlash came fast and furious. EU President Ursula von der Leyen called the move economically aggressive and promised a response. Canadian PM Mark Carney said the tariffs violate the USMCA agreement, warning of targeted retaliation. Japan and South Korea hinted at similar countermeasures, and Ontario’s Premier even said they’ll “inflict as much pain as possible” on U.S. automakers in return.

Nearly half of all new cars sold in the U.S. last year were made overseas, so the blow isn’t small. Brands like Toyota, Mercedes, BMW, and even some Detroit giants like GM and Ford rely on plants in Mexico and Canada. And yes, those will be affected, too.

Wall Street Reacts (And Tesla Smirks)

Investors didn’t take the news well. General Motors dropped over 7%, Ford lost nearly 4%, and Germany's Porsche and Mercedes each tumbled more than 2.5%. Meanwhile, Tesla inched higher. Why? Elon’s EVs are built in the U.S., giving him a rare leg up in this tariff tsunami.

Analysts say the tariffs could push prices on new cars up by $4,000 to $12,000, depending on the model and how many parts are sourced abroad. Even Ferraris are reportedly getting more expensive.

Gasoline on the Trade Fire

The timing is no accident. This move tees up Trump’s broader “reciprocal tariff” plan scheduled for April 2, aimed at slapping tariffs on countries that charge more to import U.S. goods. He’s also threatening further penalties if the EU and Canada “work together” to undercut the U.S.

Despite calls for calm, Trump isn’t blinking. "Those days are over," he wrote on Truth Social. And while he’s betting this bold strategy will boost American manufacturing, the risk is clear: jacked-up prices, strained supply chains, and some very unhappy trade partners.

Calendar
On The Horizon

Tomorrow

Forget earnings—Friday’s spotlight belongs to the PCE report, the Fed’s go-to inflation gauge and a key market mover. With no big companies reporting, investors will be zeroed in on whether prices are cooling or heating up.

Economists are betting on a mild 0.3% rise in both headline and core PCE for February, with annual rates holding near 2.5% and 2.7%, respectively. If the data aligns with forecasts, markets may breathe a little easier. But any upside surprise could rattle confidence, especially with no Fed rescue plan until May.

NEWS
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