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Shares in Tesla Inc. (Nasdaq: TSLA) are finally positive again for the year, after the companys stock price closed up nearly 3% yesterday to $410.04. The companys stock price is up another point today as of the time of this writing to just above $415marking its highest point for the year since late January, when the electric vehicle makers stock began crashing. The companys stock price was trading below $400 on the first trading day of 2025. However, while Teslas stock price is back in the black this year, its latest rise doesnt have anything to do with the companys fundamentals. Instead, it has to do with the actions of Elon Musk himself. Heres what you need to know about TSLAs recent return to growth. Musk announces he bought $1 billion in TSLA shares On Monday, Tesla CEO Elon Musk announced that the previous Friday, his family foundation purchased 2.57 million shares in TSLA in various tranches throughout the day, reports CNBC. The total value of the TSLA shares Musk purchased totaled about $1 billion. Following the news of Musks Friday share purchase, on Monday, TSLA stock rose, and it is again up today. The main reason for this is that investors see Musk’s family foundations purchase as a vote of confidence in the beleaguered EV maker. If Musk is buying shares in the company, many are likely to argue that he believes their value will increase, which causes other investors to buy into the stock, too. But investors also seem to be taking Musks purchase of $1 billion worth of Tesla shares as a sign that Musk will also be devoting more time to the company. Throughout 2025, Musks attention has been diverted to his government and political antics. The Tesla CEO spearheaded the Department of Government Efficiency (DOGE) during the first half of 2025and continues to be an outspoken critic of progressive and liberal politics in the United States and Europe. Musks political antics have alarmed Tesla investors, who think his politics are distracting him from running his company. The Tesla CEOs controversial involvement in politics has also served to alienate many of Teslas more liberal customer baseone of the factors leading to declining Tesla sales in the United States and abroad throughout much of 2025. With Musks $1 billion Tesla share purpose, many investors are hoping it signifies the CEO will redouble his focus on the company and away from alienation politics. Whether that happens, however, remains to be seen. TSLAs chaotic 2025 Tesla shares began trading for the year just below $400 per share. They rose to above $428 by mid-January. But as Musks involvement with the Trump administration deepened and protests broke out at Tesla dealerships around the world, Teslas stock took a hit. President Trumps Libaeration Day tariffs, announced in April, didnt do TSLA shares any favor either. That month, TSLA shares bottomed out below $220. Since then, however, Teslas stock has made a slow, cautious comeback, despite many hurdles for the company remaining, including increased competition from Chinas BYD and a slow robotaxi rollout. However, as of yesterday, TSLA shares are now up more than 85% from their April lowsand are finally positive for the year. Before Fridays roughly $1 billion TSLA share purchase, CNBC notes that Elon Musk last bought TSLA shares in 2020, when he purchased around 200,000 shares that were then worth about $10 million. And in the future, Elon Musk could own even more shares of Tesla. The company has recently introduced a proposed pay package for Musk worth nearly $1 trillion, which would see the CEO get millions more shares in the company should Tesla, under his leadership, meet certain goals. This deal, if approved by shareholders, could make Elon Musk the world’s first trillionaire.
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Store closures have emerged as an ominous through line across the retail business landscape this year, with decades-old chains trimming their physical footprints, seeking Chapter 11 bankruptcy protectionsometimes twice in one yearand even winding down operations altogether in some cases. Petco Health and Wellness Company is not facing such dramatic dire straits yet, but the beloved pet retailer has been reevaluating the size of its brick-and-mortar fleet as it struggles to lift its bottom line. Shares of Petco (Nasdaq: WOOF) are down almost 16% year to date and almost 26% over the last 12 months as of this writing. How many stores is Petco closing? In an earnings release last month, the company said it expected to close 25 locations in 2025, the same number of stores it closed in 2024. The news comes as net sales have declined 2.3% to $1.5 billion for the second quarter while comparable sales fell 1.4%. Sabrina Simmons, Petco’s CFO, further clarified in a second-quarter earnings call that 10 locations had already closed year to date as of the end of the second quarter. The closures brought Petco’s U.S. store count to 1,388 locations. Reached for comment by Fast Company, a Petco spokesperson said the closures are in line with the company’s full-year outlook and broader transformation efforts. “[We] have been accelerating initiatives to strengthen our operating model, including optimizing our fleet of more than 1,500 stores across the U.S., Mexico, and Puerto Rico,” the company said. Which Petco locations have closed? Petco declined to provide a full list of the locations that will shutter this year. A Fast Company review of local media reports, online review sites such as Yelp, and Petco’s own store locator tool indicates that at least 13 locations have closed in 2025 so far. It includes Petco locations in 11 states and the District of Columbia You can check out the list below, which was confirmed by Petco. 125 W Lincoln Hwy, Exton, PA 19341 1725 Twin Creek PL, Walla Walla, WA 99362 3100 14th St Ste 124, Washington, DC 20010 16835 E Shea Blvd Ste 105, Fountain Hills, AZ 85268 8775 Tualatin Sherwood Rd, Tualatin, OR 97062 1006 Keller Pkwy Ste 103, Keller, TX 76248 300 Ryders Ln, Milltown, NJ 08850 210 Fortune Blvd, Milford, MA, 01757 239 Newburyport Turnpike, Topsfield, MA 01983 32074 Gratiot Ave, Roseville, MI 48066 4840 N Pulaski Rd Ste 100, Chicago, IL 60630 2842 NW 63rd St, Oklahoma City, OK 73116 444 N Santa Cruz Ave Los Gatos, CA 95030 This story is developing and may be updated…
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Eli Lilly’s experimental weight-loss pill could be fast-tracked under a one- to two-month review process recently launched by the U.S. Food and Drug Administration, several Wall Street analysts said. Analysts speculate that the drug, orforglipron, is a viable candidate given the growing cost burden of expensive injectable weight-loss drugs and the fact that Lilly is expanding its U.S. manufacturing issues the Trump Administration has prioritized. Lilly, based in Indianapolis, declined to comment. The FDA is reviewing an oral version of Denmark-based rival Novo Nordisk’s GLP-1 obesity drug, with a decision expected in the fourth quarter. Goldman Sachs recently estimated that if orforglipron were to launch one quarter earlier than expected, it would bring in another $1 billion in revenue to Lilly. The FDA in July detailed terms of its new “Commissioner’s National Priority Voucher,” under which an experimental drug meeting certain criteria could be approved within a month or two. The agency’s standard review takes 10 months. “FDA policymakers have tried to come up with ideas to speed important products to market. It is in part directed to achieving some of the (Trump) Administration’s goals,” said Chad Landmon, chair of Polsenelli’s patent and FDA practice. The program is part of the FDA’s push to streamline drug reviews and, if new competition results in lower prices, aligns with President Donald Trump’s goal of reducing pharmaceutical prices in the United States, which pays the most in the world. Lilly’s injected weight-loss drug – with an estimated net price of nearly $8,000 a year – and similar drugs from Novo Nordisk pose a cost burden in the United States, where about 40% of adults are obese. Employers and health insurers have cited the spending as unsustainable. “We think orforglipron is a prime candidate for this pilot program as it treats a high-burden chronic condition and can be priced at parity,” Jefferies analyst Akash Tewari said in a recent research note. He referred to the idea of a worldwide price for the drug, rather than the industry’s usual strategy of pricing at a premium in the United States. The new FDA program is “a perfect fit” for Lilly’s pill, according to Citi Research analyst Geoffrey Meacham. The FDA, which declined to comment, has said it would issue five of the new nontransferable vouchers in 2025. To be eligible, the agency said applications need to support at least one of five objectives: address a U.S. public health crisis; deliver innovation; address a large unmet medical need; onshore drug development and manufacturing; or increase affordability. Orforglipron is designed to mimic the appetite-suppressing GLP-1 hormone targeted by Lilly’s blockbuster injection tirzepatide sold under the brand names Mounjaro and Zepbound. The GLP-1 class, which includes Novo Nordisk’s Ozempic and Wegovy, has enjoyed unprecedented demand in recent years, with some analysts projecting annual global sales of $150 billion by the end of the decade. Lilly, in an emailed statement, said the new FDA program is “a promising initiative,” but it was “too early to discuss how this submission pathway might relate to any of our specific programs.” The company has said it plans to submit the daily GLP-1 pill for regulatory review later this year. CEO Dave Ricks told CNBC in August that Lilly expects to launch the pill around the world “this time next year.” Orforglipron was shown in a recent study to help patients lose 12.4% of their body weight. Full results from that trial will be presented this week at a meeting in Vienna of the European Association for the Study of Diabetes. Goldman Sachs, in a recent analysis, forecast U.S. net prices for new GLP-1 obesity pills at around $400 a month. It said feedback from medical experts “points to the importance of affordability for competitive positioning” and patient access. It also said competition from new market entrants will lead to price erosion. A recent report from the Institute for Clinical and Economic Review estimated a current U.S. net price for tirzepatide of about $664 a month. People without adequate insurance coverage can buy the drug directly from Lilly for $499 a month. Unlike orforglipron, which is a synthetic drug, Novo’s experimental obesity pill is a more difficult-to-manufacture peptide, which analysts say could give Lilly more leeway on price. Deena Beasley, Reuters
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