Tesla Slides Tractor Supply cruises, CoreWeave to Buy Core Scientific
Jul 7, 2025
Tesla shares plummeted after Elon Musk revealed plans for a new political party, leading to a significant dip in market confidence. Meanwhile, Tractor Supply saw gains thanks to strong sales data, marking a notable turnaround. The podcast also discusses heightened economic uncertainty with stock market declines tied to tariff worries, all while CoreWeave's acquisition of Core Scientific adds a layer of intrigue to the tech landscape. It’s a wild ride through today's unpredictable market dynamics.
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insights INSIGHT
Tractor Supply Sales Surge
Tractor Supply Co. shares rose nearly 4%, hitting a high since April due to 4.3% second-quarter sales growth.
Bloomberg Second Measure's credit and debit card swipe data closely correlates with the company's reported revenue.
question_answer ANECDOTE
Hosts Share Tractor Supply Experience
Tim Stenovec shared a personal anecdote about never visiting Tractor Supply but growing up with a local equivalent called Farm Supply.
The host Scarlett Foo also recounted frequenting Tractor Supply in suburban Maryland and its popularity during the pandemic.
insights INSIGHT
Rocket Lab Gains After Musk-Trump Clash
Rocket Lab, an alternative space company to SpaceX, rose 9% after tensions between Elon Musk and Donald Trump.
Though smaller, Rocket Lab gains investor attention as a potential competitor to the market leader SpaceX.
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Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Sonali Basak, Tim Stenovec and Emily Graffeo
On this episode of Stock Movers
- Tesla (TSLA) shares fell after Elon Musk announced he’s forming a new political party, digging deeper into a pursuit that’s been a drag on his most valuable business. The CEO announced over the weekend that he’ll take on Republicans and Democrats with the “America Party,” focusing on House and Senate seats for the next 12 months. After that, backing a candidate for president isn’t out of the question, Musk wrote on X. Tesla’s stock slid 7.4% as of 11 a.m. Monday in New York, wiping out $16.7 billion from his net worth, according to the Bloomberg Billionaires Index. If that drop were to hold, it would be the biggest decline for the shares since Musk’s initial falling out with Donald Trump over the president’s tax bill in early June. The stock has declined 28% this year as the CEO’s politicking has hurt Tesla’s standing with car buyers.
-Tractor Supply Co. (TSCO) gains as much as 2.6%, rising to the highest intraday level since April, after adjusted sales observed by Bloomberg Second Measure rose 4.3% in the second fiscal quarter. The data draws from a sample of credit and debit card purchases made by US consumers. Analysts currently estimate revenue for the quarter of $4.4 billion, up 3.6% YoY. Bloomberg Second Measure observed sales have achieved high correlation with the company’s reported revenue growth during the past five years.
- CoreWeave (CRWV) is dropping $9 billion on the data-center operator Core Scientific Inc. in an effort to gain more direct control over the physical assets powering the artificial-intelligence boom. In buying Core Scientific (CORZ) in an all-stock deal, CoreWeave will inherit more than a gigawatt of data-center capacity across the US — much of which is already contracted out to serve its clients in training, deploying and using AI models. CoreWeave said Monday that controlling more of its supply chain will eliminate lease expenses, reduce costs including those associated with financing projects and “future-proof” its revenue growth.
Stock Movers