The Rundown - Tesla to Launch in India with First Showroom, Drone Stocks Soar After Hegseth Order

Episode Date: July 11, 2025

Stock market update for July 11, 2025. This video is for informational purposes only and reflects the views of the host and guest, not Public Holdings or its subsidiaries. Mentions of assets are not recommendations. Investing involves risk, including loss. Past performance does not guarantee future results. For full disclosures, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Public.com/disclosures⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

Public.com presents the rundown. Your daily market update in under 10 minutes. My name is Zad Admani, and today is Friday, July 11th. In today's episode, we'll tell you about the big moves happening in the crypto market. We'll also tell you about Tesla's plans to expand robotaxies to Arizona and why drone stocks are flying high today. Then stick around to the end of the show to find out how much money the winner of Wimbledon is expected to make this weekend.

We got a great show for you today. Let's go. Stocks continued to move higher on Thursday with the S&P 500 jumping 0.3% to close at record highs. And the NASDAQ also edged up 0.1% building on its record closed from Wednesday. Now, speaking of records, NVIDIA officially closed above the $4 trillion market cap on Thursday for the first time. Just two years ago, Nvidia was worth less than $1 trillion. And now it's the first to crack four, which is pretty incredible. Now, despite Nvidia's big milestone, I think the big winner this week has to be Bitcoin.

The price of Bitcoin has jumped 10% this week reaching over $118,000 for a new record high. I mean, just yesterday, Bitcoin set a record of $112,000. And now it's shot up way past that number. Ethereum is also getting in on the fund. It's up 15% this week. And the price is back above $3,000 for the first time. since February. And there's not really something to point to that's driving this crypto pump. In fact, what's crazy is that stocks and crypto are making record highs despite President Trump

continuing to escalate trade tensions. The White House has been sending out tariff letters to countries all week setting new tariff rates. And then just yesterday, President Trump threatened to increase tariffs on some Canadian imports to 35% starting August 1st. On top of that, Trump told NBC News that he's planning to increase blanket tariffs from the current 10% level, up to 15 to 20%. But you know what? Investors aren't letting another potential trade war ruin their summer. Or at least for right now, I guess we'll see what happens as we get closer to the August 1st date.

Let's run through some headlines. Starting with Tesla. Tesla's robo-taxies are on the move and expanding to Arizona. Tesla just filed an application to test its self-driving robo taxis in Phoenix without any human supervision in the car. That would be different than what Tesla is doing in Austin right now. Remember, Tesla launched a Robotaxy fleet in Austin a couple weeks ago, but those vehicles still have a human chaperone riding shotgun. And even with the human

oversight in the car, things haven't exactly been smooth in Austin. There are videos floating around showing Tesla Robotaxis breaking traffic laws. And in fact, there's one clip showing the robot taxi straight up hitting a parked car, which obviously not a great look. And all of that has triggered an investigation from the National Highway Traffic Safety Administration, which is looking into whether these AI cars are ready for prime time. But those little mishaps aren't stopping Elon from expanding. He's also looking to expand Robotaxy Services in San Francisco within the month or two. But we'll see how the Arizona launch goes.

The application decision by the state is expected by the end of July. So yeah, in a few weeks, we might see unsupervised Tesla's roaming around the desert pretty soon. And outside of Robotaxies, Tesla is also expanding internationally as well. Tesla is opening their first EV showroom in India on July 15th. India is a big market for cars, but also very competitive with local carmakers like Tata Motors being a big presence. And then also Chinese rival BYD also has a presence in India. So we'll see how Tesla stacks up in India.

They're going to start selling cars there pretty soon. Now let's shift gears and talk about Levi's. It looks like people aren't ready to ditch their denim just yet because the company just raised it's full year profit and revenue forecast. You know, yoga pants tried to take the crown from jeans for a bit a couple years ago, but no, everyone still loves their jeans, all right, myself included. Now, Levi's did mention that tariffs are expected to impact their business. Levi says they do most of their sourcing from South Asian countries like Pakistan,

Bangladesh, and Indonesia, which have recently been hit with a 30% tariff. Levi's expects tariffs to cost them between $25 to $30 million the rest of the year, but the company plans to eat that cost instead of pass it along to customers. And it also helps that Levi's make 60% of its revenues from outside of the U.S., which is actually growing faster than their U.S. business. International sales jumped by 10% last quarter while U.S. sales were up just 7%. This might be a hot take, but I actually like wearing jeans more than I like wearing sweatpants. My wife thinks I'm crazy for that, but I mean, I like jeans.

A good pair of jeans. I mean, that's the ultimate comfort right there. Let's talk about some stocks making moves today. Drone stocks are flying high this morning after Defense Secretary Pete Heggseth announced a major push to ramp up domestic drone production. Hegsetth posted a video on X where he said that he's tearing down the red tape and rescinding restrictive policies that stifle production to unleash U.S. military drone dominance. Now, the goal here from Hexeth is to boost America's drone manufacturing base and get more U.S.-made drones into combat units in the military. Investors like the sound of that. Dronmakers like Red Cat Holdings jumped 18%. Unusual Machines is up 11%. And even some of the bigger defense tech contractors like AeroVirenment and Crato's defense are seeing a lift this morning. Now on the flip side, Intel stock is down this morning after the company spun off RealSense, which is a company that makes cameras to help robots perceive the world in 3D. This spinoff is now complete. And RealSense just raised $50 million to focus on integrating more AI into their problems. and enhancing their camera tech. Real Sense claims that its depth sensors are used in 60% of the world's

humanoid and autonomous robots, which is both impressive and kind of terrifying, if I'm being honest. But yeah, Intel investors didn't like that move, probably because they see RealSense as a promising company as robots start taking over the world. Let's wrap the show with a fun fact. The Wimbledon Tennis Championship is this weekend and the winners of both the gentlemen's and ladies' single championship will take home a prize money of three million pounds for winning the tournament. Now, being the finance nerd that I am, I was looking up the history of Wimbledon's prize money, and it's gone up pretty substantially, even in recent years. Like back in 2016, the winner got 2 million pounds, and then in 2010, it was 1 million pounds.

So the prize money for the champion has 3xed in 15 years. Now, if you go all the way back to 1968, which is when the tournament started paying out prize money, the winner got 2,000 pounds, which is worth about 30,000 pounds today. So obviously Wimbledon has come a long way. Longtime listeners know I'm a big sports fan, especially tennis, so I'm definitely going to be tuning into the championship. In fact, I'm going to start watching the semifinals as soon as I'm done recording this podcast. Well, all right, guys, that's the rundown for today.

That's the rundown for this week. Hope you guys enjoyed today's episode. If you did, and you have like eight extra seconds, consider giving us a five-star rating on Apple, Spotify, or whatever. you listen to your podcast. As a reminder, this podcast is now a full-on video podcast so you can watch me talk about the markets on Spotify or YouTube. And while you're at it, leave us a comment on YouTube or Spotify and let us know what you think about the podcast. And if you have any questions for us, we're going to try to answer some listener questions in a future episode.

Thank you guys so much for listening and watching. Shout out to Mike and Connor for all the help behind the scenes. I will see you guys back here this weekend for the deep dive.