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Tesla Rebounds, PVH Soars, Newsmax Surges Again — Biggest Stock Movers to Watch

Tesla (TSLA) +2% Tesla shares bounced after a rough Monday, despite being down 36% in Q1 — the worst Q1 in company history. Investors are now eyeing its  Q1 delivery report  due Wednesday, with Street estimates hovering around  380,000 units . Analysts have been revising expectations lower amid backlash over Elon Musk’s role in Trump’s administration. Chinese EV Makers Up XPeng (XPEV) +1.6% : Delivered 33,205 vehicles in March — its fifth straight 30k+ month. NIO (NIO) +1.6%  and  Li Auto (LI) +1.4%  also gained on strong March deliveries. Nvidia (NVDA) -0.6% Still under pressure after a  19.3% Q1 drop , its worst since 2022. Investor worries over AI spending, tech valuation, and trade tensions are weighing heavily. Johnson & Johnson (JNJ) -5% Fell after a Texas judge  dismissed J&J’s third bankruptcy attempt  to settle talc-related lawsuits via Chapter 11. PVH Corp (PVH) +18.9% Shares surged after  Q4 earnings beat expectations ...
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GameStop Shares Drop After-Hours on $1.3 Billion Convertible Bond Deal to Buy Bitcoin

Shares of GameStop (GME) fell by 8.3% to $26 in extended trading after the video game retailer announced a $1.3 billion convertible bond deal aimed at raising capital to purchase Bitcoin (BTC).

Key Points:

  • Stock Performance: GameStop shares rose 11.7% during regular trading, closing at $28.36 after the company revealed plans to invest in Bitcoin.

  • Convertible Bond Offering: GameStop plans to offer $1.3 billion in 0% 5-year convertible bonds privately to raise funds.

  • Market Cap: The company’s market cap stands at approximately $12.7 billion, according to LSEG data.

  • Year-to-Date Performance: While GameStop’s stock is down 9.5% year-to-date, it has gained more than 80% in the past 12 months.

Market Reaction:

Despite the rise in GameStop's stock earlier in the day, the announcement of the capital raise led to a significant drop in shares after-hours, reflecting investor concerns about the company's pivot towards cryptocurrency investments.

GameStop's foray into the digital asset space is seen as a bold move that could reshape the company’s future, but the reaction shows how investors remain cautious amid this high-risk venture.

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