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Luke Kawa

General Motors pops higher as Deutsche Bank says it’s a buy

“General Motors has consistently executed well in the midst of macro uncertainties, and we think this will continue to position the company well for 2025, amid a lingering EV slowdown, tariff concerns, and potential policy changes,” Deutsche Bank analyst Edison Yu said in upgrading GM stock to “buy” from “hold” and hiking his price target by $4 to $60.

Shares of GM are up more than 2.5% as of 11:10 a.m. ET, a jump that stands in stark contrast to the slump in electric-vehicle stocks.

What’s been encouraging, according to the analyst, is not necessarily what the company is doing right but rather its willingness to admit when things are wrong and pivot rather than throwing good money after bad. Cases in point: the firm taking restructuring and write-down charges on its joint venture in China, and shuttering Cruise, its robotaxi unit. These shifts should begin to provide some relief for the automaker’s bottom line this year, per Yu.

Now General Motors can focus on one of the things American companies do best: making money, and using that money to repurchase their own stock.

“The company will have completed its $6 billion repurchase plan (post the $10 billion accelerated share repurchase) by early 2025 and we expect continued aggressive buybacks beyond that,” Yu wrote.

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Luke Kawa

GameStop briefly spikes as tweets from @TheRoaringKitty, aka Keith Gill, appear then disappear on X

Shares of GameStop briefly mooned after hours before erasing the entire advance after posts from @TheRoaringKitty appeared then disappeared from the social media platform X.

@TheRoaringKitty is the account associated with Keith Gill, the messiah of GameStop’s meme-stock moment in 2021 who returned in 2024 to kick off another parabolic rally in the shares.

The tweets came and went before I could lay eyes on them, but Bloomberg tells me there was “one depicting a cat, and another with a picture of the online character Pepe the Frog wearing Roaring Kitty’s trademark red bandanna” around 5:40 p.m. ET. A screenshot posted of one tweet showed that it included a string of text (ending in “pump”) that appears to be the wallet address for a meme coin called “Red Kitten Crew.”

The market cap of the coin briefly jumped to about $12 million around the time of that tweet before cratering to about $2.6 million thereafter.

The emergent consensus on the r/Superstonk subreddit, which is dedicated to discussions of GameStop, is that the account was hacked. The more tinfoil-hatted members, meanwhile, are suggesting that not only is this a hack, but a hack intended to somehow thwart GameStop’s attempt to purchase eBay.

Anyways, all these hacked account scams on X are really interfering with my ability to get people to vote for me to be a major podcast host.

markets
Luke Kawa

Power Solutions International mysteriously craters ahead of earnings, then tumbles more after earnings too

Shares of Power Solutions International are extending losses in postmarket trading after the engine- and power-system provider released its Q1 results.

Revenues of $128.6 million came in shy of the consensus call for $161 million, and operating income of $11.4 million was less than half of the anticipated $23.7 million.

(Granted, there were only two estimates available here.)

But the curious thing is... traders didn’t wait until these underwhelming results were released to dump the stock.

Up until about 12:10 p.m. ET, volumes were tracking above their 5-day average, but nothing too abnormal. In the 20-minute span after that — with no reported news on any wires — shares tumbled on 40 times their average volume for that time of day.

The stock finished down 17.7% in regular trading, and extended that loss to down 50% as of 5:05 p.m. ET.

Suffice it to say, this isn’t normal.

Companies operating in a similar segment of the market, like Cummins or Generac Holdings, didn’t suffer a similar intraday swoon.

While other power providers are visibly cashing in on the AI boom and offering robust outlooks tied to data center demand, Power Solutions’ management was reluctant to pencil in anything forward-looking on that front.

“The Company continues to see strong demand for data center power solutions, and expects sales to increase in the second half of 2026,” per the press release. “However, the timing and ultimate volume of related shipments remain subject to customer scheduling, manufacturing throughput, supply-chain factors, and other variables, and the Company is not predicting any specific level of data center revenue in any future period.”

markets
Paige Oamek

AST Spacemobile drops after 1Q top and bottom lines miss estimates

After soaring during Monday's session, AST SpaceMobile shares are coming back to earth.

The retail-trading favorite is down double digits in postmarket trading Monday after the company fell short of Wall Street’s expectations with its Q1 earnings report. 

Here are the details:

  • Revenue of $14.7 million (compared to analyst estimates of $39 million). 

  • Net income of -$191 million (estimate: -$76.3 million)

Shares, which rose 10% during the regular session on Monday, fell 11% after the report.

The company — which is building the first space-based cellular broadband network, connecting standard cell phones to satellites — has experienced high stock volatility over the past year. Despite the dips, however, it had still landed up nearly 200% since last May. 

Despite missing Street estimates, the company's revenue is a significant increase over the Q1 2025's $7.18 million, when the company focused primarily on government contract work. The company has a devoted retail following, who call themselves the SpaceMob, who’ve cheered on the SpaceX rival’s rapid growth. 

Today, AST Spacemobile has agreements with Verizon, AT&T, and others to provide space-based internet directly to phones. Earlier this year, it also won a key contract with the US Department of Defense for the “Golden Dome.” 

So far the company has successfully launched seven functioning satellites and on Monday recommitted to plans to have 45 total satellites by 2026. The company currently trails behind Elon Musk’s SpaceX, who says they now have 10,000 Starlink satellites in orbit and launched. AST Spacemobile also is one short on their goal after their BlueBird 7 satellite had to be taken out of orbit in April.

markets
Paige Oamek

CleanSpark drops after Q2 results trail estimates, with much deeper-than-expected quarterly loss

Shares of CleanSpark are down in postmarket trading after the bitcoin miner and data center developer reported its second-quarter earnings on Monday, missing Wall Street estimates on the top and bottom lines.

CleanSpark reported:

  • $136.4 million in revenue (compared to analysts’ consensus estimate of $139.4 million). 

  • An adjusted loss per share of $1.52 (estimate: a $0.66 loss).

Those numbers show revenue down 24.9% year over year.

Like TeraWulf, which reported earnings on Friday, and many, many others, CleanSpark is transitioning from a solely bitcoin mining company to a broader AI infrastructure provider. The company is up 53% over the past year. 

In its press release Monday, the company said it roughly doubled its megawatts under contract year over year. Per Matt Schultz, CEO and chairman of CleanSpark:

“Our objectives are clear: commercialize our AI/HPC-applicable assets, grow the portfolio, and continue mining efficiently to power CleanSpark’s transformation.”

According to exchange data, CleanSpark is among the Russell 3000 companies that traders love to hate, with roughly 35% of its float sold short as of mid-April. That’s one reason, besides the bitcoin/AI crossover, that the name is on the dashboard of many retail traders.

markets
Sage D. Young

MARA dips after missing earnings expectations

Bitcoin miner and data center operator MARA Holdings released its Q1 earnings report Monday afternoon, missing analysts’ expectations on revenue and earnings per share. Shares dropped in after-hours trading, giving back gains built on Monday’s session.

The company reported:

  • Revenue of $174.6 million, below the FactSet analyst consensus estimate of $181.9 million and an 18% decline from $213.9 million in the same period last year.

  • A net loss of $1.3 billion, or a $3.31 loss per diluted share, compared to the $1.55 loss per share in Q1 2025.

The jump in the company’s net loss was “primarily driven by a $520.4 million increase in operating loss, largely due to unfavorable bitcoin mark-to-market adjustments of ($1.0 billion) and restructuring costs of $45.9 million during the quarter,” MARA CFO Salman Khan said in the firm’s Q1 2026 shareholder letter.

MARA Holdings has the fourth-largest bitcoin treasury and, similar to other mining companies, has made a push to develop infrastructure to capitalize on the artificial intelligence boom. Last month, the company announced acquiring Long Ridge Energy & Power LLC for $1.5 billion to add over 1 gigawatt of total potential power capacity.

“We expect Long Ridge will continue to supply power to the grid and generate cash flow and positive EBITDA upon closing,” MARA Chairman and CEO Fred Thiel said in a statement. “Our intention is to develop incremental capacity at the site and build a higher value digital infrastructure asset.”

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