The Rundown - Tesla's Europe Sales Fall for 5th Straight Month, Bumble Shares Pop on Plan to Cut 30% of Staff

Episode Date: June 25, 2025

Stock market update for June 25, 2025. Stocks mentioned: CoreWeave (CRWV), Circle (CRCL), Tesla (TSLA), Bumble (BMBL), FedEx (FDX), DraftKings (DKNG).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 Zadadmani, and today is Wednesday, June 25th. In today's episode, we'll tell you why more companies might start IPOing soon. We'll also dive into Tesla struggles in Europe. Then stick around to the end of the show to find out why a company that lets you bet on the weather just raised $200 million from Peter Thiel. We got a great show for you today.

Let's go. The markets continued to rally on Tuesday as tensions in the Middle East have cooled off. The S&P 500 was up 1.1% and the NASDAG jumped 1.4%. Both of these indices are now within 1% of all-time highs. In fact, the NASDAQ 100 index, which tracks the 100 largest companies in the NASDAQ, did hit all-time highs yesterday. So if you have exposure to ETFs that track the NASDAQ-100, like QKKK, you're probably having a good time right now. The only people not having a good time this week

are oil traders because oil prices continue to fall. Prices were down 6% on Tuesday to $65 a barrel. So yeah, it looks like the market has pretty much moved on from the Israel-Iran conflict. And investors don't seem to be worried about tariffs either. Remember, President Trump put a 90-day pause on tariffs back in April. That pause is expiring on July 9th, which is creeping up pretty fast. And so far, there hasn't been any major trade deals announced. Maybe the markets expect President Trump to extend the tariff pause as they work through these trade deals. But you know, the uncertainty around trade is one reason why Fed Chair Jerome Powell hasn't cut interest rates. He said that on Capitol Hill yesterday and his testimony to the House telling lawmakers

that the Fed is staying patient because of uncertainty around tariffs and the impact that they could have on inflation. So it doesn't sound like we're getting a rate cut anytime soon based in those comments. Some people were hoping we'd get rate cuts in July, but Jerome Powell is giving no hints of that. Jay Powell will be back today in the Senate for round two of his testimony, and we'll let you know if he says anything interesting. But based on yesterday, it sounds like for now the Fed is sticking with a wait and see approach before making any moves on interest rates. I can't wait to see what new insult President Trump throws towards Powell after he hears about this. Let's run through some headlines. Starting with the SEC.

According to a report from Reuters, the SEC is in talks with NASDAQ and the New York Stock Exchange to roll back some of the red tape around going public. The goal here is to make the IPO process less painful and less expensive for companies so that more private companies, especially the big ones, actually list. Now, while the IPO market is starting to heat up again, we've seen companies like Circle and Corweave go public recently, we're still way below from historic levels. There are currently around 4,500 publicly listed companies, which is down 36% from the year 2000. This is according to figures compiled by NASDAQ. And this actually has a tangible impact to everyday investors. Because some of the most valuable, innovative companies in the world, like OpenAI and SpaceX, are still private. That means that regular investors like me and you, we can't invest in them and benefit on the upside.

The proposal forms being discussed here would make the IPO process cheaper and involve fewer disclosers. that also limit how much influence small activist shareholders can exert. Basically, they're trying to reduce the paperwork and the drama, and hopefully it results in more companies going public sooner. Now, of course, there are tradeoffs, right? Less regulation could mean more risk for investors. But I mean, these days, we live in a world of meme coins and zero-day options and triple levered ETFs.

So retail investors are already used to the risk at this point. So I'm hoping that these changes go through soon. And innovative companies like SpaceX, Open AI, and Stripe. start going public sooner rather than waiting. Now, speaking of innovative companies, let's talk about Tesla. Tesla continues to struggle in Europe. New data shows that Tesla car sales in Europe fell by nearly 28% in May, which marks the fifth straight month of declining sales in the region.

And what makes this worse is that this happened while EV sales across Europe actually grew by more than 27%. So the demand for EVs is clearly there. Tesla is just not getting any love. Most of the EV demand in Europe is being met by Chinese EV makers, which sold nearly 66,000 cars in Europe last month. Tesla, on the other hand, sold just 14,000. Now, Tesla is trying to fight back. They recently launched a new version of the Model Y in Europe, hoping that that would reignite demand. But so far, it hasn't resulted in a bump in sales.

Analyst partially blame Elon Musk's political involvement with President Trump as a reason for the slump in sales. But now that Elon is at a split from Trump, maybe, see Tesla bounce back in Europe, or it's possible that Tesla's reputation is permanently damaged and that Chinese EV makers are making a better and cheaper car. So we'll have to see. Tesla stock is down nearly 3% this morning in reaction to this news. So investors are a little concerned about this. Let's talk about some stocks making moves today. Bumble shares are buzzing today after the dating app announced that it's cutting 30% of its workforce. Wall Street likes this move because it's expected to save Bumble around $40 million a year,

which the company says it'll reinvest into building new products and tech. The Bumble has been down bad lately. The stock has dropped more than 35% over the past six months, and the stock is down over 90% since they IPOed back in 2021. So investors were starting to go stick, but the company is trying to work on themselves to improve, and investors are starting to buy back in shares of Bumble are up nearly 17% this morning on this news.

Now, on the flip side, FedEx stock is down today after the shipping giant warned that profits for this quarter will fall short of expectations. Now, the company actually beat earnings and revenue expectations for last quarter, but the outlook going forward is not so great. The company is blaming weak global demand and ongoing uncertainty around trade policy. In fact, tariffs alone are expected to wipe out $170 million in adjusted operating income this quarter for FedEx. You know, investors tend to pay attention to FedEx's earnings.

earnings because it's seen as a bellwether company for the broader economy. So if they start struggling, it might mean trouble ahead for others too. FedEx stock is down 5% this morning in reaction to the earnings. Let's wrap the show with a fun fact. Polymarket is set to raise $200 million at a $1 billion valuation. This round is being led by Peter Thiel's Founders Fund and it adds to the $100 million in funding that Polly Market had previously raised. Polly Market is a relatively new company was founded back in 2020, and it's gone on to become the biggest prediction market platform in the world. Think of them kind of like a Vegas meets Vanguard. The company became a household name during the 2024 presidential election when it correctly

predicted that Donald Trump would win the election well ahead of major news outlets. Last year, over $8 billion were wagered on polymarket. Most of that centered around the election. Now, volumes on the site have slowed down since the election, but the company is still capital on the momentum. Volumes in May of this year was $1 billion far outpacing the $63 million in volume they had from May of 2024. I mean, the platform has something for everyone. You can bet on pretty much anything from Fed interest rate decisions to who's going to win Wimbledon to even the weather, which is nuts. And what's even crazier is that Polly Market isn't even legal in the U.S. yet. So they might have much more room for growth if they ever secure approval to operate in the U.S.

and take on other prediction market players like Kalsh. I mean, just for some context here, Draft Kings, the sports betting company, has a $20 billion market cap right now. So I think investors are hoping that polymarket could become that or even bigger. So it's definitely a space to keep an eye on. Well, all right, guys, that's the rundown for today.

Hope you guys enjoyed today's episode. As a reminder, on Friday's episode, we're going to be answering some listener questions. So if you guys have any questions for us, leave them in the comments on Spotify or YouTube. You could DM us on Instagram. as well, leave us a comment on Instagram, and we'll do our best to answer your questions on Friday's episode. And while you're at it, don't forget to hit us with a five-star rating on

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