To The Moon

Here's a full recap:

1. $1.5T of value was wiped out of the stock market today. The S&P 500 $SPY was down 2.2%, Nasdaq $QQQ down 3%, and Dow Jones $DIA down 1.72%. The downturn came due to yesterday's late night news on $NVDA Nvidia chips banned from being sold in China and Fed Chair Powell's comments on inflation expectations continuing to be sticky with tariffs increasing inflation but decreasing growth. The stock market will be closed for Good Friday so tomorrow will end out the week.

2. Dr. Alex Karp, CEO of $PLTR Palantir, was named to TIME’s 100 Most Influential People of 2025. TIME wrote: "As Palantir, the data-analytics giant that works closely with U.S. armed forces and intelligence agencies, has grown in value on the stock market, its chief executive, Alex Karp, has become the embodiment of a new kind of Silicon Valley billionaire: an unashamed techno-nationalist who evangelizes Western power. Meanwhile, business is booming. In the same shareholder letter, Karp announced that Palantir’s revenue in 2024’s final quarter had increased by 36% over the corresponding period in 2023.”

3. Federal Reserve Chair Jerome Powell today stated that the economic impact of recent tariffs has been larger than anticipated. The unexpected scale of the tariffs is contributing to higher inflation and slower economic growth. Powell noted that economic growth likely declined in the first quarter of 2025 compared to the same period last year. He emphasized that tariff policies are still evolving and their full effects are not yet clear. Overall, the Fed is closely monitoring how trade developments are shaping the broader economic outlook.

4. $SOFI SoFi CEO Anthony Noto did a podcast today. When asked about what his BHAG, "big hairy audacious goal" is, he said "I don't want to say because other people may copy it." He then said that he wants $SOFI to be a top 15 technology company measured by market cap in the USA. Noto also expressed confidence in gaining access to crypto services again for SoFi under the new administration's rules.

5. $TSLA Tesla’s California vehicle registrations dropped 15.1% in Q1 compared to a year ago, with its EV market share falling to 43.9% from 55.5%, according to new data. Piper Sandler cut its Tesla price target from $450 to $400. The firm cited lower-than-expected Q1 deliveries (337k vs. 378k estimate), which could push gross margins to multi-year lows. Lack of details on the upcoming "Model 2" also limits near-term delivery growth potential. Despite a bearish short-term outlook, Piper Sandler still sees long-term upside from catalysts like new models and robo-taxis.