markets

Luke Kawa10/28/24

Trump’s Truth Social might be worth more than Elon Musk’s X now

Elon Musk, the world’s richest man, has been at a number of Trump rallies recently to promote the former president ahead of next Tuesday’s election. Perhaps while the two are rubbing shoulders, he might get some tips from the Republican nominee on how to grow a social-media company.

A September 28 filing from Fidelity’s Blue Chip Fund, which owns a stake in the private company, suggests the firm thinks X is worth $9.4 billion. After Monday’s eye-popping 22% gain on record volumes, Trump Media & Technology Group (parent company of Truth Social) has a market capitalization of $9.48 billion.

We don’t want to take this judgement as gospel for myriad reasons. The numbers are close, the dates aren’t perfectly apples-to-apples, and there are different ways to assess how much companies are worth (market cap versus enterprise value, etc.). Also, this is just one institution’s view.

We doubt that Musk is sweating any of this too much, seeing as X’s operational performance is not his top priority in running the social-media platform, and also because of the bit about him still being the world’s richest man who saw that net worth swell by billions last week thanks to Tesla’s strong earnings report and guidance.

More Markets

See all Markets

Ford Rouge Complex In Michigan

Ford beats revenue estimates in Q4, with weaker-than-expected earnings

The Detroit automaker released its fourth-quarter and full-year results after the bell on Tuesday.

Max Knoblauch2h

markets

Matt Phillips2h

Robinhood Q4 revenue misses estimates, but earnings beat

Robinhood Markets posted fourth-quarter revenue that fell short of analysts’ estimates, but earnings topped Wall Street’s forecasts.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own Robinhood stock as part of my compensation.)

The stock, crypto, and options trading platform reported:

Q4 earnings per share of $0.66 vs. analysts’ consensus estimate of $0.63, according to FactSet.
Sales of $1.28 billion vs. expectations of $1.35 billion.
Transaction-based revenue of $776 million vs. expectations of $797.6 million.

Shares of the company were down 5.4% shortly after the report.

Robinhood shares notched gains of 193% and 204% in 2024 and 2025, respectively, though they’ve recently given up some of those gains amid volatility in the crypto markets.

J. Edward Moreno

Lyft gives mixed earnings report, announces $1 billion buyback

Lyft — which has a $6.7 billion market cap — announced that it would buy back up to $1 billion in shares.

Lyft decal

Tasha Matsumoto

Stocks dip ahead of tomorrow’s delayed jobs report

After weaker-than-expected retail sales, Wall Street awaits tomorrow’s delayed jobs report and Friday’s delayed CPI for clues into the health of the economy.

CHICAGO, ILLINOIS - JANUARY 18: Caleb Williams #18 of the Chicago Bears throws a pass against the Los Angeles Rams during the first quarter in the NFC Divisional Playoffs at Soldier Field on January 18, 2026 in Chicago, Illinois.

markets

The tech sector’s biggest winners and losers are swapping places

It’s bizarro world for the tech sector.

Software stocks, the market’s collective whipping boy in 2026 in light of the presumptive threat of AI disruption, are continuing to recover on Tuesday. Meanwhile, the biggest winners of the AI boom this year — memory stocks, benefiting from intense shortages — are taking their turn in the red.

The iShares Expanded Tech Software ETF’s gains are being led by Datadog, a rare case of a software stock rising after reporting earnings this season, with heavyweights Oracle and ServiceNow outperforming the industry. Figma, which isn’t in this product, is also up double digits.

On the other side of the spectrum, Micron, Sandisk, Seagate Technology Holdings, and Western Digital are selling off.

The seesaw of modern markets often requires that as one group’s fortunes inflect positively after a long drubbing, so too must a high-flyer have its wings clipped.

That is, if you’re a portfolio manager long memory and short software stocks, and enough investors are willing to catch a falling knife and buy the beaten-down group, staying market-neutral and reducing this position would require you to purchase software and dump some memory stocks.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.

©2026 Sherwood Media, LLC