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Its not only cryptocurrency investors who are seeing red today. If youre an investor in Elon Musks Tesla (Nasdaq: TSLA), the trading day is off to another bad start. Thats because Tesla shares are currently down over 6% to below $267 a share as of the time of this writing. Todays early-morning drop is just the latest one for the electric carmaker since the beginning of the year, with TSLA shares down over 33% in 2025 so far. Increasingly, theyve fallen nearer to an important psychological price barrier: $251, which is where they were trading on November 5, 2024 when President Trump won the election. In other words, Tesla is close to losing all of the gains it had made since Trump’s victory. Exactly why are TSLA shares falling this morning? There are two likely immediate reasons. Tesla sales crash in China in February China is Teslas second most important market after the U.S. However, sales in the country reportedly fell off a cliff last month. In February 2025, Tesla sold just 30,688 cars in China. That is a staggering decline of 49.2% from a year earlier. Its also the lowest number of vehicles Tesla has sold in any month in China since August 2022. However, there are a few onetime events that may have contributed to this drop. First, Tesla had to partially suspend the production of the Model Y in the country due to upgrade work. Second, there was a shift in the Lunar New Year holidays this year, which could have contributed to fewer people car shopping during the February period. However, as Reuters notes, one-offs werent the only reasons behind the fall. During the same month, one of Teslas main Chinese competitors, BYD, reported 614,679 vehicles solda 90.4% increase. Tesla is also facing an EV price war in the country. BYD recently released an EV with driving-assistance technology. The starting price of that vehicle is less than $10,000 USD. Teslas Model Y starts at around $35,000 USD in China. And BYD isnt the only rival Tesla faces in China. Other companies in the country, including Geely and Leapmotor, have recently entered into the EV price wars, heaping more competition on the company. Teslas nearly 50% sales drop in China during the month follows recent falls in other countries. Data from the European Automobile Manufacturers Association (ACEA) shows that Tesla has recently seen a 45.2% drop in the European Union, Britain, and the European Free Trade Area. Bank of America downgrades TSLA stock A second bit of news seems to be rattling Tesla investors this morning, too. Bank of America has downgraded Teslas stock price. Previously, BoA held a $490 price target for TSLA shares, but now it’s reduced that target to $380. At $380, thats still about $110 higher than where Tesla is right now, but it’s a huge drop from the nearly $500 price point that BoA previously had on the stock. Its worth noting that Bank of America has maintained its neutral rating on TSLA shares. Trump trade wars and DOGE President Trump’s tariffs on Canada, Mexico, and China in the past day may also be weighing on Tesla stock. Those tariffsas well as retaliatory actions taken by America’s three largest trading partnersare spooking markets in general this morning. Economists worry that the tit-for-tat tariffs could signal that the largest economies in the world are on the cusp of a massive trade warone that would not benefit the economies of any country involved, nor the larger global economy. If the global economy worsens, it could lead to consumers pulling back on spending on everything from cars to computers. Todays 6%-plus decline in Teslas stock may also partially be blamed on ongoing worries that Elon Musks political activities and his involvement with the controversial Department of Government Efficiency (DOGE) may be tarnishing the companys brand image beyond repair. Not since Steve Jobs and Apple has one man been so connected to a company in the eyes of the public. If Elon Musks political antics continue to generate anger against the buying publicespecially the affluent, progressive, environmentally conscious consumers who tend to buy his carsinvestors worry those customers may abandon the brand. Where does Tesla go from here? Where TSLA shares go from here is anyones guess. Tesla recently passed a grim milestone last month when it lost its status as a company with a $1 trillion market cap. As of the time of this writing, Tesla is now worth below $900 billion. In December, TSLA shares closed at an all-time high of over $488. They have fallen more than $222 since then.
Category:
E-Commerce
Sycamore Partners is planning a three-way split of Walgreens Boots Alliance if a deal to take the struggling pharmacy chain private is reached, the Financial Times reported on Thursday, citing people familiar with the matter. Walgreens’s three businessesU.S. retail pharmacy, Boots UK, and U.S. healthcarewill be separated and have distinct capital structures, according to the report. Sycamore and Walgreens both declined to comment on the report. Shares of the Deerfield, Illionois-based company rose 5% to $11.62 in early trading. The report “marks another twist in the potential go-private story” for Walgreens, Leerink analyst Michael Cherny said. Walgreens has reportedly been in talks to sell itself to private equity firm Sycamore since December, but a deal is yet to be reached. Media reports have also pointed to issues with financing for a buyout and discussion with Sycamore briefly falling out. The financing of the take-private deal is not expected to be an obstacle, according to the FT report. Walgreens’ executive chairman Stefano Pessina, who currently holds a 17% stake, is expected to maintain a significant share of the company, it added. Bhanvi Satija and Sriparna Roy, Reuters
Category:
E-Commerce
If what you dont know cant hurt you, Elon Musk may be in luck. With a series of candid posts on X, the White Houses resident broligarch has lately been divulging which aspects of civics and data science he appears to know little about. Fortunately for anyone following along, a scattered battalion of experts and reporters has received each bumbling post on X like a social media bat signal. Every time Musk posts about, say, the dire need for retired air traffic controllers to get back into the game, or for flight trajectories to look like a straight line, a veteran campaign strategist will explain that air traffic controllers are required by law to retire at age 56, or a journalist will describe how flight plans and prohibited airspace function. Together, these folks have turned Musks X feed into one long teachable momentregardless of whether the primary pupil is paying any attention. It makes sense that most people wouldnt know the ins and outs of things like air traffic controller staffing protocol or flight paths. Its also reasonable to expect that Musk himself wouldnt know, even as his Department of Government Efficiency (DOGE) team is in the midst of a drastic overhaul of the Federal Aviation Administration (FAA), at a critical juncture in the public perception of flight safety. What makes no sense, however, is for someone in Musks powerful position to find out how such important systems work, through social media rebuttals, only after hes already suggested sweeping changes within those systems. Early days of DOGE When Musk first started planning DOGEs implementation, he had a golden opportunity to learn about government functionality. According to a recent New York Times report about DOGEs origins, the task of putting logistics around Musks ideas fell to health care entrepreneur Brad Smith, who had previously worked with Jared Kushner during Trumps first term. In the first week after the election, Mr. Smith gave Mr. Musk a presentation that amounted to a basic budget and civics lesson, explaining how Congress appropriated funds and noting major line items like defense and health care, the report reads. In one early meeting, Mr. Musk said Mr. Smith was being too careful and offering classic consultant stuff. In discussions, Mr. Musk expressed impatience with Mr. Smiths caution that the team would need a phalanx of lawyers to help with executive orders and regulations. Mr. Musk wanted to tear down the government to the studs, and saw Mr. Smiths approach as incremental. Shoot first, ask questions later Musks apparent distaste for caution has led to a more “shoot first and ask questions later” style of reshaping the federal government. In the parlance of the 2020s, he is the literal embodiment of “FAFO” in action. But its those following along on X and Bluesky who are “Finding Out.” For instance, Musk recently posted an adamant denial on X that DOGEs cost-cutting has resulted in fewer funds for cancer research, after writer Molly Jong-Fast called him out on it. Of course, Musk had previously griped on X about how much money in endowments from the National Institute of Health were going toward indirect costs, which he described as overhead. Amid Musks denials about cutting funding for cancer research, experts quickly chimed in to explain that, in the realm of NIH funding, all that overhead provides critical support for biomedical research and trials, something Musk may not have been aware of. Its far from Musks only misapprehension around the allocation of government funds. When he posted Defund the ACLU in December, Musk may similarly not have known that the American Civil Liberties Union receives no money from taxpayers whatsoeversomething Rep. Alexandria Ocasio-Cortez was quick to point out in a quote-reply. More galling, however, was Musks X post from mid-February, suggesting millions of dead people are currently collecting social security checks. As proof, he posted an excerpt of an Excel spreadsheet purportedly listing people up to 369 years of age receiving benefits. The following afternoon, social securitys acting commissioner, Lee Dudek, clarified: The reported data are people in our records with a social security number who do not have a date of death associated with their record. These individuals are not necessarily receiving benefits. Even before Dudeks statement, though, X users came out of the woodwork to explain that the incredibly high ages listed in the social security database were due to outdated computer systems like COBOL and SQL. (Not that any of these corrections or Dudeks comments stopped Musk from going on Joe Rogans podcast over the weekend to continue peddling false claims about dead people receiving social security checks.) When Musk responded to one users suggestion that he doesnt understand how SQL works, writing, This [slur] thinks the government uses SQL, many users explained why the government might, in fact, plausibly use SQL. Even the Community Notes on X joined in on correcting Musk which may partly explain why hes announced a plan in the days since to overhaul the Community Notes system. Moving fast and breaking things Some of his recent posts suggest he would like to do the same to U.S. democracy altogether./p> What is the point of having democratic elections, he posted last week, if unelected activist judges can override the clear will of the people? As U.S. judges attempt to constrain some of DOGEs maneuvers, such as blocking the group from accessing the Department of Educations internal data, Musk continues questioning the role of the judiciary in American governance. When he floated the idea of annually firing the worst 1% of appointed judges, as determined by elected bodies, an economist wrote on Bluesky that Musk did not seem to understand Congress can already impeach judges. Whether he knew it at that point or not, he certainly does now, as Musk has recently started threatening judges with impeachment. The head of DOGE previously did not seem to know that the Ebola prevention team, nuclear arsenal experts, and bird flu officials were all indispensable before his department fired them. (And then subsequently attempted to rehire them.) Hopefully, there were no similar information gaps last Friday when DOGE fired hundreds of workers from the National Oceanic and Atmospheric Administrations tsunami warning centersand none in the decision process for whichever teams DOGE fires next. Otherwise, what Musk doesnt know may end up hurting a great many other people.
Category:
E-Commerce
Ticketing platform Eventbrite has a new lookand an overhauled mobile app. The company just unveiled its first brand refresh and app redesign since 2019, signaling its increasing focus on surfacing event recommendations for its users.Coming less than a week after Eventbrite shared its Q4 and full-year 2024 earningsposting a loss of $8.4 million for the quarter and loss of $15.6 million for the yearthe new app is designed, in part, to help shore up the companys 10% year-over-year decline in ticket sales by emphasizing event discovery. To do that, CEO and cofounder Julia Hartz tells Fast Company that Eventbrites strategy is cribbing somewhat from the music streaming world. We believe that event discovery should be as intuitive as discovering music on Spotify, she says. [Image: Eventbrite]The redesign and strategy shift is also informed by Eventbrites consumer research, which found users between 18 and 34 increasingly driven to attend live eventswhich Hartz calls fourth spacesby a desire to bring their online interests into the real worldfrom podcasts to cooking and crafting. Were highlighting that niche is the new mass, especially for Gen Z and live experiences, she says. Driving DiscoveryPutting a new app at the center of its strategy is how Eventbrite wants to capitalize on a highly engaged subset of users. Some 10% of the companys 90 million monthly active users use the app, and that number is increasing at about 17% year over year. In a move pulled straight from streaming, Eventbrites Discover tab offers users recommendations based on past purchases. The new app also introduces It Listguides to events in 12 markets curated by more than 25 people Eventbrite calls cultural creators. In Chicago, for example, author Rebecca Makkai offers a guide to social art and literature events, and in Toronto, DJ Hangaëlle gives users a guide to the citys nightlife. Users are able to save events theyre interested to come back to later, with a dedicated Saved tab in the app. [Image: Eventbrite]Curated discovery is a game-changer Hartz says, noting that early tests found that users engaging with It Lists are twice as likely to buy a ticket. Thats not a new concept, but we bring it to life in this new experience. We know a lot about consumers, what they want to do, and how to drive action from intent, which is a big leap when youre thinking about buying tickets to an event.The new app also builds in a social function, allowing users to find and follow friends and see what events they may be attending. Hartz teases more features down the line, including user-generated It Lists. [That would be] another way of connecting with your digital community and getting your friends to want to go out and experience real life with you, she says. [Image: Eventbrite]Giving organizers a boostHartzs comparison to the Spotify experience in the new app also extends to Eventbrites tools that help hosts promote their upcoming events. Since 2022, Eventbrite Ads has been a way for event planners to boost visibility of a listingnot unlike Spotifys Discover Mode, which artists use to be promoted into a listeners autoplay mix. [Image: Eventbrite]The ads program, which was introduced in 2022, has been a solid growth driver for the company, posting year-over-year revenue increases of 34% in Q4 and 83% for the full year. Hartz told investors last week that events using the ads tool sold four times more tickets than events that didnt. She says thats in part because of how engaged its app users are versus users on social media. [Image: Eventbrite]While youre getting a mass audience on Instagram, youre getting a super high-intent audience on Eventbrite, she says, noting that app users are two and half times more active in ticket sales than other users. Thats helped incentivize bringing the ads program into the redesigned app. Were expanding Ads placements to be in heavily trafficked places like It Lists and and category-specific landing pages, Hartz says. Were making it possible for creators to partake in that high-intent experience.[Image: Eventbrite]Cornering the fourth spaceIn surveying the swath of Gen Z and millennials aged 18 to 34, Hartz says Eventbrite is seeing the long tail of pandemic-fueled isolation start to evolve into renewed interest in IRL experiencesbut for increasingly niche interests cultivated online. Eventbrite found three-quarters of the people it surveyed planned to spend more money on live events in the next six months. With home, work, and public spaces like parks and cafes constituting the first, second, and third spaces, Hartz sees these eventsamong them cosplay speed dating, run clubs, and culinary experiencesas a fourth space.[Image: Eventbrite]Theres a mashup of niche interests coming together in really creative ways offline, she says. We think of ourselves as the infrastructure for fourth spaces.When talking about Eventbrites focus on surfacing new events for niche audiences, Hartz sounds more like the head of a streamer than a ticketing platform. Its an ambitious framing, but its not an accident.Were not ticketing large concerts and arenas and stadiumswere ticketing everything else that isnt a backyard barbecue or birthday party, she says. Because of that, I think of Eventbrites content as a new type of mediacontent brought to life in tiny and massive ways. I think you could say that our competition is staying home and sitting on the couch.
Category:
E-Commerce
Sales and profits slipped for Target during the crucial holiday quarter as customers held back on spending and the company said there will be “meaningful pressure” on its profits to start the year because of tariffs and other costs.The retailer beat most estimates, however, and shares rose slightly before the opening bell Tuesday.Target reported net income of $1.1 billion, or $2.41 per share, far better than the $2.26 that Wall Street was expecting, according to a survey by FactSet. That is down from the $1.38 billion profit the company reported in the same period last year, though the most recent quarter had one fewer week of sales.Revenue fell to $30.91 billion, from $31.9 billion, but that also beat expectations.Americans have been pulling back on spending and retailers face a lot of uncertainty in the year ahead.President Donald Trump’s long-threatened tariffs against Canada and Mexico went into effect Tuesday, pushing markets in Asia, Europe, and the U.S. lower, and setting up costly retaliations by the United States’ North American allies, not to mention China.China said Tuesday that it will impose additional tariffs of up to 15% on imports of key U.S. farm products, including chicken, pork, soy, and beef, and also expanded controls on doing business with key U.S. companies.Consumers have already been pulling back on discretionary spending because the costs of groceries have risen so sharply. That is an area where Target can be vulnerable because so much of its sales come from discretionary items like clothing, electronics purchases.Target said Tuesday that it expects sales to be flat in 2025, and that its earnings per share will be between $8.80 and $9.80. Wall Street had been projecting per-share earnings of $9.29 for the year.During the most recent quarter, comparable salesthose from stores and digital channels operating for at least 12 monthsrose 1.5%. That was higher than the 0.3% gain during the third quarter. Target posted a 2% gain in the second quarter and a 3.7% drop in the first quarter.Speaking about the current quarter, Chief Financial Officer Jim Lee said that sales declined in February in part because of brutal weather across the U.S. But sales should pick up, Lee said.“We will continue to monitor these trends and will remain appropriately cautious with our expectations for the year ahead,” Lee said. Anne D’Innocenzio, AP Retail Writer
Category:
E-Commerce
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