Tesla is the worst-performing stock in the S&P 500 this year

It’s been a bad day for stocks in general. It’s been a worse day for Tesla.

As of about 12:30 p.m. ET today, Tesla, which lost all of its election gains, is officially the worst-performing stock in the S&P 500 this year. The EV stock is facing numerous headwinds: declining sales, shrinking analyst estimates, growing competition, shrinking popularity, and the institution of tariffs on Mexico and Canada, where many of its parts are manufactured — all of which are weighing on its stock price.

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Rani Molla2h

Reuters: Amazon to cut 30,000 corporate jobs

Amazon is planning on cutting as many as 30,000 corporate workers starting on Tuesday, nearly 10% of its 350,000-strong corporate workforce, to “pare expenses and compensate for overhiring during the peak demand of the pandemic,” Reuters reports.

Last week, The New York Times reported Amazon’s plans to automate 75% of its operations in coming years, a move that could lead to 600,000 fewer hires.

Exclusive: Amazon targets as many as 30,000 corporate job cuts, sources say

“Without Elon, Tesla could lose significant value”

Rani Molla5h

Tesla Chair Robyn Denholm sent shareholders a letter today pleading with them to approve CEO Elon Musk’s $1 trillion pay package — which is tied to the company’s performance over the next decade — or risk losing him.

“If we fail to foster an environment that motivates Elon to achieve great things through an equitable pay-for-performance plan, we run the risk that he gives up his executive position, and Tesla may lose his time, talent and vision, which have been essential to delivering extraordinary shareholder returns,” Denholm wrote. “Without Elon, Tesla could lose significant value.”

Many have long tied Tesla’s success to retaining its longtime CEO, even Musk himself. Musk used Tesla’s earnings call last week to plea for approving his pay package, saying that it’s the voting control more than the money that’s important.

“If we build this robot army, do I have at least a strong influence over that robot army?” Musk said.

Millie Giles

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Apple is planning to put advertising in the Maps app by 2026

Boosting its Services division with a few extra ad dollars sounds nice — but it could drive users away.

Apple Maps, Google Maps, Uber and other Apps on iPhone screen

Rani Molla

AI AI AI

Meta is expected to spend a bigger share of its revenue on capex than ever before

Capital expenditures could represent 37% of Meta’s revenue in Q3, according to analyst consensus estimates.

Rani Molla10/24/25

After Tesla earnings, prediction markets think unsupervised FSD is less likely than ever to be rolled out this year

Tesla’s unsupervised full self-driving technology, which would autonomously ferry passengers around without a human driver having to pay attention, is supposed to help catapult the electric vehicle company’s valuation further into the stratosphere. It was also supposed to be available this year, but prediction markets participants, as well as former Tesla self-driving leaders, no longer think that will happen.

On Tesla’s earnings call this week, CEO Elon Musk said the company now had “clarity” on achieving unsupervised full self-driving — something he’s repeatedly said would be available at least in some markets this year.

The comments seemed to give Polymarket prediction markets participants some clarity. There, the market-implied probability that Tesla will release unsupervised FSD this year reached its lowest point since the event contract was opened in May.

The odds of it happening had been pretty high up until late June, when Tesla’s long-awaited robotaxi launched with a safety driver in the passenger seat. The unsupervised FSD event contract specifies the feature can have “no requirement for human intervention.”

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