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NEWS
Breaking A 4-Week Losing Streak

Yesterday’s after-hours earnings misses had stocks start off Friday on a rough note, but bulls battled back to close barely green on the week. With the Fed’s decision and most earnings out of the way, many believe the next major market catalyst will be the April 2nd reciprocal tariff deadline with Canada and Mexico. The tug-of-war continues for now. 👀 

Today's issue covers a self-driving vehicle surge, Trump’s pick for SEC Chair, a hilarious “Weekend Rip” with Ben & Emil, and more from the day. 📰

Here’s the S&P 500 heatmap. 3 of 11 sectors closed green, with communication services (+0.78%) leading and materials (-0.99%) lagging.

And here are the closing prices: 

EARNINGS
Self-Driving Vehicle Stock Surges 🚘️ 

Lidar plays a critical role in the self-driving car industry, but the key players in the space have faced numerous challenges over the last few years. Now, investors are potentially looking for them to turn a corner.

Luminar Technologies reported fourth-quarter earnings and revenues that topped estimates, with its adjusted gross profit of $14 million surprising Wall Street, where analysts expected a $12 million loss. 🤩 

A decade's worth of work came to a head with the launch of the Volvo EX90, the first global production vehicle with leading technologies like Luminar and Nvidia. With some momentum behind the industry, Luminar management expects sales to grow 10% to 20% in 2025. However, that would still put revenue below analyst estimates. 😐️ 

While there’s still lots of work ahead, the recent news helped propel shares 65% this week, with Stocktwits sentiment in ‘extremely bullish’ territory. As we’ve seen with other beaten-down stocks in industries, sometimes expectations get low enough that the companies can easily hop over them. 👍️ 

Chinese EV maker Nio Inc. did not have as much luck. It reported a wider-than-expected loss and missed revenue expectations, with first-quarter delivery guidance suggesting a significant slowdown in sales momentum. 🪫 

Stocktwits sentiment remained bullish despite the stock giving back its recent gains and throwing cold water on the bulls’ recent upside momentum. Time will tell if buyers step in again in the $4 region as they have in the past. 🧐 

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