Happy Monday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟥 | US stocks fell sharply today as Trump’s tariffs appeared to transition from “threat” to “inevitability”.

• 📈 | One Notable Gainer: Shares of chipmaker Allegro MicroSystems (ALGM) soared nearly 15% on news ON Semiconductor (ON) sees it as a potential acquisition target.

• 📉 | One Notable Decliner: NVIDIA’s (NVDA) stock slumped almost 9%, bringing its 5-day loss to 12.5%, after the WSJ reported Chinese buyers are getting their hands on the company’s Blackwell chips, despite US guardrails.

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The T-REX 2X/-2X Long and Inverse Bitcoin Daily Target ETFs

Today’s edition is brought to you by REX Shares - the masterminds behind innovative ETFs and ETNs.  

If you're bullish on Bitcoin, the T-REX Long Bitcoin Daily Target ETF (BTCL) offers a way to potentially amplify your gains with leveraged exposure to Bitcoin. Seize the opportunity to capitalize on Bitcoin's upward momentum with BTCL.

If you're bearish on Bitcoin, the T-REX Inverse Bitcoin Daily Target ETF (BTCZ) offers a way to potentially profit from Bitcoin's decline with leveraged exposure. Navigate Bitcoin's volatility and capitalize on its downward trends with BTCZ.

Seek a leveraged position that aligns with your market outlook without directly investing in spot Bitcoin ETPs. 

Investing in these funds is not equivalent to investing directly in bitcoin. High risk involved. Not suitable for all investors. Distributor: Foreside Fund Services LLC.

MARKET MOVERS

Amazon, AppLovin, Super Micro

AMZN (-3.4%) Amazon's cloud business to invest $8.2 billion in Indian state in coming years (YF)

APP (+3.6%) AppLovin Stock Bounces Back Following Buyback News (Barron’s)

SMCI (-13%) Super Micro Stock Slips. SMCI May Have a Bigger Problem Than Delisting Drama. (Barron’s)

CPRI (+4%) Prada Moves Closer to Versace Deal for Up to €1.5 Billion (Bloomberg)

INTC (-4.2%) Exclusive: Nvidia and Broadcom testing chips on Intel manufacturing process, sources say (Reuters)

OVERHEARD ON THE STREET

Bloomberg: President Trump confirmed the US will impose 25% tariffs on Canada and Mexico tomorrow, amid rumors of a last-minute deal to avoid a trade war.

Barron’s: Trump also teased new tariffs, specifically on agricultural imports, starting next month.

CNN: On a related note, Warren Buffett described tariffs as an economic "act of war" that ultimately act as a tax on consumers.

Axios: TSMC will invest an additional $100B in US chip production, building on its existing $65B commitment in Arizona.

Reuters: US manufacturing remained steady in February, per the PMI, although concerns over tariffs suggested potential disruptions in production.

TOMORROW’S TRADE IDEA, TODAY

Tesla: Self-Driving or Skidding Out?

Burning Bright or Burning Out?

Elon Musk’s star is burning brighter than ever. But his biggest company, Tesla (TSLA), may be burning out. February was the stock’s second-worst month in history.

The mega-cap EV maker still has its bulls. However, many other analysts believe the downtrend will continue, and advise investors to keep their money out of the company for the time being — or even to cash out and take their profits. 

Here are their respective takes.

The Bear Case

Tesla is facing a sales slump and increasing Chinese competition. So far, Musk’s increasing political presence hasn’t been a net-positive for the company, either.

BYD (BYDDY) recently overtook Tesla as the top EV brand in China. By January, Tesla’s Chinese sales had fallen 11.5% annually. Meanwhile, BYD saw its year-on-year sales increase 47%. These vehicles aren’t just popular in China either. They’re spreading overseas, too, threatening Tesla’s market share in Europe and Asia.

According to Courtney Garcia of Payne Capital Management, the drop hasn’t stopped Tesla’s stock from being overvalued. It currently trades around 105x earnings, above its historical average and the market average. Garcia told investors to wait for a better entry point, given the stock’s bleak outlook.

The Bull Case

Morgan Stanley (MS) analyst Adam Jonas, meanwhile, doesn’t believe this is a bad entry point at all. He recently named Tesla one of his top picks and upped his price target to $430, suggesting the stock could rise more than 50% from current prices.

The analyst argued that the decline in deliveries is “not particularly narrative changing” and could be offset by the auto company’s expansion into other sectors, such as energy storage, AI, and robotics. In particular, Jonas called out the humanoid robots Tesla is developing, noting they are “becoming serious enough to move the stock”.

Analysts are more divided than ever on whether Tesla is too big to float, or too big to fail. Where do you stand?

Sponsored by REX Shares

The T-REX 2X/-2X Long and Inverse Bitcoin Daily Target ETFs

Today’s edition is brought to you by REX Shares - the masterminds behind innovative ETFs and ETNs.  

If you're bullish on Bitcoin, the T-REX Long Bitcoin Daily Target ETF (BTCL) offers a way to potentially amplify your gains with leveraged exposure to Bitcoin. Seize the opportunity to capitalize on Bitcoin's upward momentum with BTCL.

If you're bearish on Bitcoin, the T-REX Inverse Bitcoin Daily Target ETF (BTCZ) offers a way to potentially profit from Bitcoin's decline with leveraged exposure. Navigate Bitcoin's volatility and capitalize on its downward trends with BTCZ.

Seek a leveraged position that aligns with your market outlook without directly investing in spot Bitcoin ETPs. 

Investing in these funds is not equivalent to investing directly in bitcoin. High risk involved. Not suitable for all investors. Distributor: Foreside Fund Services LLC.

ON OUR RADAR

CNBC: President Trump announced the creation of a "strategic crypto reserve" including bitcoin, ether, XRP, SOL, and ADA.

BI: European leaders held emergency talks to discuss increased support for Ukraine, including seizing $218B in frozen Russian assets to raise funds.

CNN: European defense stocks hit a record high today following Trump and Zelensky's contentious meeting.

TechCrunch: Amazon-backed AI firm Anthropic closed a $3.5B funding round, raising its valuation to $61.5B.

AP: With sweeping tariffs set to go into effect tomorrow, these sectors could take the hardest hit.

FRIDAY’S POLL RESULTS

Are you bullish or bearish on TJX Companies (TJX) over the next 12 months?

🟩🟩🟩🟩🟩🟩 🐂 Bullish

🟨🟨🟨⬜⬜⬜ 🐻 Bearish

And, in response, you said:

• 🐂 Bullish — “Long term chart (last 20+ yrs.) is very positive; and the thesis for continued growth is believable under current fiscal 'circumstances'.”