^{_{Welcome to the TraderTV Live Morning Research Note. Here's what's making major moves in the market today.}}

0945 - Chicago PMI for March: Expected 45; Prior 45.5

Tesla Inc (TSLA)

-5.24%

Gapping down as market participants await the implementation of tariffs, including 25% tariffs on foreign cars and parts, by the US administration on April 2. Stifel lowered the company’s price target to $455 from $474, citing near-term delivery concerns related to the new Model Y launch and potential sales impacts due to buyers’ opinions on the politics of CEO Elon Musk. Despite the adjustment, analysts maintain a Buy rating, emphasizing confidence in Tesla's long-term potential despite ongoing stock volatility.

Crypto Stocks

-3.21%

Trading sharply lower as a group in tandem with Bitcoin, which is poised for a four-day losing streak. The cryptocurrency sold off on Friday, Saturday, and Sunday and is trading lower on Monday morning, opening the session near $82,400 and reaching a low of $81,250 so far. Hut 8, meanwhile, is trading higher after announcing the launch of American Bitcoin Corp., a majority-owned subsidiary focused on industrial-scale Bitcoin mining and strategic Bitcoin reserve development.

HUT, COIN, MSTR, MARA, RIOT, IBIT, ETHE, CLSK, IREN, CAN, HIVE

NVIDIA Corp (NVDA)

-4.41%

Gapping down alongside the futures and many of its Mag 7 peers. The company is on watch after CoreWeave’s disappointing IPO, which priced shares at $40—below expectations—amid investor caution on AI-driven cloud computing. Nvidia is responsible for generating roughly 15% of CoreWeave’s revenue and has a 6% stake in the company. Despite weak sentiment, Bank of America maintained a Buy rating on Nvidia, citing attractive valuation and potential volatility ahead of AI regulation deadlines.

Palantir Technologies Inc (PLTR)

-7.40%

Poised to continue its four-day losing streak. Kenio Fontes of Seeking Alpha issued a note warning that even under optimistic growth scenarios, Palantir's valuation may not justify its current price. According to Fontes, Palantir faces a potential 20%-40% downside by 2028. Additionally, the DoD's reported cancellation of Oracle’s HR software raises concerns about broader government tech spending cuts, especially given Palantir's reliance on government contracts.

Moderna Inc (MRNA)

-14.24%

Gapping down following the resignation of Peter Marks, head of the FDA’s Center for Biologics Evaluation and Research. His departure marks a major shift for the FDA, given his pivotal role in COVID-19 vaccine rollout and regulatory policies on cell and gene therapies. Analyst from Truist noted that some volatility in vaccine developers is expected following Marks' resignation, but they see limited impact on genetic medicine companies.

Chinese ADRs

-2.43%

Trading lower as a group after the tech-heavy Hang Seng Index in China dropped 3% on Monday, sending it into correction territory. The drop has been attributed to profit-taking, trade war uncertainty, and U.S. restrictions on Beijing's access to advanced technology. Meanwhile, Chinese EV brand Xpeng is trading higher after its 100,000th unit of Mona M03 rolled off the assembly line just seven months after launch, marking the fastest BEV production record for a new Chinese automaker.

BABA, BIDU, BILI, PDD, JD, LI, XPEV, NIO, ZK, FXI, KWEB

AppLovin Corp (APP)

-7.12%

Gapping down as market participants continue to digest a series of short reports targeting the stock. The most recent of these reports was published on March 27 by Muddy Waters Research; the Bear Cave, Culpert, and Fuzzy Panda Research all issued short reports on the stock within a five-day period in late February 2025. The stock closed more than 20% lower on March 27 but managed to close 4% higher on the 28th.

AT&T Inc (T)

+0.85%

Trading marginally higher with volume premarket as the futures push lower. On Friday after the close, the company announced a $0.2775-per-share quarterly dividend on its common shares, payable May 1, 2025. AT&T also announced dividends on its Series A and Series C preferred stock, which will be payable on May 1.

Retail Favorites

-5.25%

Several retail favorites are trading lower premarket without any particular catalyst. Many of these tickers have notable short floats; Super Micro and Hims & Hers Health have short floats of 20% or greater. The tickers in this group have made large moves in the past and tend to be watched heavily by retail traders and investors.

SMCI, HIMS, RKLB, OKLO, SOFI

Quantum Stocks

-5.25%

On watch throughout D-Wave' Quantum’s annual Qubits Conference, set to take place on March 31 and April 1st. Executives, customers, and industry leaders are expected to present at the event. D-Wave has already announced breakthroughs with companies like Japan Tobacco as of Monday morning.

QBTS, RGTI, QUBT, IONQ

Newton Golf Company (NWTG)

+34.23%

Gapping up after announcing its Q4 and FY 2024 earnings. The company reported an 817% year-over-year increase in Q4 revenue and an 887% increase in FY 2024 revenue, with gross margin improving for both periods. The stock has a float of approximately 51,250 shares.