Wall Street Breakfast States win first round in EV charger lawsuit
4 snips
Jun 25, 2025 A federal judge has ruled in favor of states, ensuring electric vehicle charging funds remain accessible. Meanwhile, Tesla is experiencing a 40% drop in market share in the EU, raising questions about its future. In other news, Cathie Wood's Ark Invest is making significant investments in companies like Shopify, Toast, and Airbnb. The episode also touches on geopolitical tensions, with Beijing responding to Taiwan's tech restrictions, reflecting the ongoing challenges in the tech and automotive industries.
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EV Funds Unfrozen by Judge
- A federal judge blocked the Trump administration from withholding EV charging funds from 14 states.
- The judge ruled the president lacks unilateral authority to refuse allocated spending on EV infrastructure.
Tesla's EU Market Share Declines
- Tesla's European Union sales dropped sharply, with registrations falling 40.5% year-over-year in May.
- Its market share declined to 0.9% from 1.6%, despite a refreshed Model Y release.
ARK Invest's Tech Sector Moves
- Cathie Wood's ARK Invest made large purchases in Shopify, Toast, and Airbnb ETFs on June 24th.
- Shopify topped acquisitions with $3.7 million invested across three ARK funds.