Stock Movers Tesla Declines Again; Cryptos Pop; Capital One Up on Discover Deal
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Apr 21, 2025 Tesla's stock is facing troubles as analysts raise concerns about brand damage linked to Elon Musk's distractions. Meanwhile, the cryptocurrency market is experiencing a surge, with Coinbase and others benefitting from plans to pursue bank charters. In a major shake-up, Capital One is set to acquire Discover Financial Services, making it the largest credit card issuer in the U.S. Netflix continues to soar after reporting record profits, with optimistic forecasts for the upcoming quarter.
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Tesla Faces Major Headwinds
- Tesla shares are down due to a "code red" moment before earnings and concerns over Elon Musk's external distractions.
- Barclays also lowered Tesla's price target, and the launch of affordable Tesla models has been delayed.
Crypto Stocks Rise with Bitcoin
- Bitcoin is rebounding to its highest since early March, lifting crypto-related stocks.
- Companies like MicroStrategy, Coinbase, and Riot Platforms all see gains amid crypto optimism.
Netflix Posts Strong Earnings
- Netflix shares climbed after reporting record first-quarter profits and beating revenue estimates.
- The company forecasts strong second-quarter sales and earnings, signaling resilience despite a tough economy.