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

Crypto Stocks

-5.31%

Gapping down as a group in tandem with a four-day drop in Bitcoin, though the cryptocurrency is attempting to rebound as of 7:00 AM ET on March 10. The cryptocurrency’s largest volume day of last week was Friday, March 7, the day of the first-ever White House Crypto Summit. On that day, President Trump issued an executive order to create a strategic bitcoin reserve using seized coins, without plans for further purchases. While short-term market sentiment was disappointed by the limited scope of the initiative, market participants like Bitwise CIO Matt Hougan suggest the move could influence other governments to establish similar reserves.

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

Big Tech Stocks

-1.35%

Trading lower premarket in tandem with continued weakness in the S&P 500 and the Nasdaq as market participants continue to evaluate the potential impacts of tariffs. The S&P 500 dropped more than 3% last week for its worst trading week since September 2024. Additionally, President Donald Trump Trump stated that tariffs on Canadian and Mexican goods set for April 2 "could go up" and did not rule out a recession during a Fox interview aired on Sunday. Mexico announced over the weekend that retaliatory tariffs have been delayed, but Canada has yet to make such an announcement.

AAPL, AMZN, META, MSFT, NVDA

Alphabet Inc (GOOGL)

-1.56%

On watch after the Department of Justice submitted new court filings in its case against the company. The DOJ dropped its proposal to force Google to sell its AI investments, including its stake in Anthropic, due to potential unintended consequences in the evolving AI space. However, the agency and 38 state attorneys general still seek a court order to break up Google's search monopoly by requiring the sale of its Chrome browser and imposing other competitive measures.

DoorDash and Palantir Technologies

+0.57%

On watch as a pair following the S&P index announcements on Friday evening. DoorDash, which is gapping up, is set to join the S&P 500 alongside Williams-Sonoma, TKO Group, and Expand Energy. Palantir, which is trading sharply lower premarket, will be joining the S&P 100 alongside Intuitive Surgical and ServiceNow. The changes will take effect as of the open on Monday, March 24.

DASH, PLTR

Tesla Inc (TSLA)

-2.46%

Continuing to trade lower following a five-week losing streak that has seen the stock lose its $1 trillion market capitalization and erase its entire post-election rally. The drop has been attributed to factors including declining sales, profit concerns, and backlash over CEO Elon Musk's political activity. While most of Tesla’s revenue comes from EVs, its lofty market capitalization hinges on investor belief in Musk’s vision for AI-driven robotaxis and humanoid robots despite years of unfulfilled promises, as per a Reuters article published on Monday morning. Additionally, UBS lowered its price target for Tesla from $259 to $225.

Taiwan Semiconductor Manufacturing Co (TSM)

-1.36%

Trading lower premarket after posting mixed sales results for February 2025. Revenue rose 43.1% year-over-year to reach $7.911 billion, though this number reflected an 11.3% month-over-month decline. Combined revenue for January and February 2025 increased by 39.2% on a year-over-year basis. This data follows last week’s announcement that the company will be further investing in AI in the US.

Novo Nordisk A/S (NVO)

-5.91%

Gapping down after announcing the Phase 3 results of its weight-loss drug CagriSema. The trial showed a that CagriSema resulted in a 15.7% weight reduction in type 2 diabetes patients over 68 weeks, below the previously expected 25%. The Phase 2 trial showed weight reduction of 22.7%. The company plans to seek regulatory approval for CagriSema in early 2026.

CoinBase, Robinhood, and AppLovin

-5.42%

All three stocks are trading lower after failing to be announced as additions to the S&P 500, despite speculation that they were strong contenders. AppLovin dropped nearly 15% after the last S&P 500 announcement, when it was also widely anticipated to be added to the index; a short seller wrote to the index ahead of the most recent announcement to ask that AppLovin not be included. Separately, Robinhood agreed to pay $29.75 million to settle FINRA probes into its compliance failures, including inadequate anti-money laundering programs and missing red flags of misconduct.

COIN, HOOD, APP

XPeng Inc (XPEV)

-2.11%

On watch after the Straits Times reported that Xpeng Aeroht, one of the company’s subsidiaries, aims to become the world’s first mass producer of flying cars by 2026. Its modular “land aircraft carrier” vehicle, which includes a detachable passenger drone, has reportedly already secured around 3,000 intended orders and is expected to be priced under $275,000. This update echoes comments from XPeng Chairman and CEO He Xiaopeng made on Friday, March 7. Citigroup upgraded the stock to Buy with a $29 price target.

Hims & Hers Health Inc (HIMS)

-2.83%

The company announced it will discontinue Apostrophe, its personalized acne treatment business, which it acquired in 2021, but will continue offering other dermatology treatments. Business Insider, who initially reported the update on Friday after, attributed the decision to the company’s struggles with their weight-loss drug business; Hims & Hers said that this element was not a factor in their decision. Separately, Hims & Hers is set to join the S&P MidCap 400 as of March 24, replacing S&P 500 addition Expand Energy. Approximately 25.9% of the stock’s float is sold short.