Big 24 hours.

Tesla beat on earnings, missed on revenue, and the stock dropped anyway. Trump ordered the Navy to shoot on sight in the Strait of Hormuz. Cannabis just got reclassified at the federal level for the first time in decades. And a rental car stock went from $100 to $850 and then crashed 38% in a single day.

We have four stories to cover, and all of them have something actionable for your portfolio.

This is not financial advice. Always do your own research. Past performance doesn’t guarantee future results.

There was too much important news to focus on 1 main story, so we’re doing 4. Hope you get value from it! Let us know if you do.

Tesla's Q1 numbers were mixed:

The stock dropped about 3%. Year to date, TSLA is down roughly 15%.

What spooked the market: First off, people weren’t stoked that Tesla didn’t meat or beat its expected revenue. Then, the biggest thing: Tesla raised capex guidance to $25 billion, up $5 billion. Investors didn’t love that, now cash flow will likely turn negative. Also, Robotaxi rollouts will be slower than expected. And finally, Elon Musk said that older Hardware 3.0 vehicles will not be able to achieve full self-driving without hardware upgrades.

Unsupervised FSD has launched in Dallas and Houston. Paid robotaxi miles nearly doubled sequentially. FSD subscriptions hit 1.28 million (up 51% year over year). And Tesla is targeting unsupervised FSD in roughly a dozen states by year-end.

Wedbush's Dan Ives maintained his $600 price target, calling the CyberCab "the golden goose."

We think the $25 billion capex ramp is Elon betting aggressively on autonomy and AI, and historically, betting against Elon when he's spending aggressively has been the wrong trade. Down 15% with robotaxi actually launching is a more interesting entry point than it was three months ago, though things could still go down from here of course.

The ceasefire is technically alive. The language from the White House says otherwise.

Trump posted that the US has "total control over the Strait of Hormuz" and that it's "sealed up tight until such time as Iran is able to make a DEAL!" He then ordered the Navy to shoot on sight any vessel caught laying mines, and directed minesweepers to clear the strait "at a tripled up level."

Brent crude crossed $103 on Wednesday, its fourth straight day of gains. WTI hit $95. And the downstream effects are already showing up: American Airlines just slashed its full-year earnings guidance from $1.70 to $2.70 per share down to negative $0.40 to $1.10, citing a $4 billion increase in fuel costs. Jet fuel has nearly doubled since the Iran conflict started.

Oil above $100 is a tax on the entire economy. If you don't have energy exposure right now, this is the environment that punishes you for it. Definitely not saying you should just jump into an oil position if you don’t have one, but if any buying opportunities present themselves, it could be worth considering; Kalshi traders don’t see Hormuz traffic returning to normal until July.

The Trump administration moved cannabis from Schedule I to Schedule III. That's the same classification as codeine and testosterone.

This doesn't legalize weed. But it's the most significant federal cannabis policy shift in decades. It opens the door to more legitimate medical research, eases banking restrictions for cannabis companies, and removes some of the DEA's heaviest regulatory burdens. For years, cannabis companies have been locked out of normal banking and couldn't deduct business expenses on federal taxes. Schedule III changes that.

If you've been watching the cannabis space, this is the catalyst the industry has been waiting for. Tilray (TLRY) is up 18% this week alone. We're not making a specific call here, but names like MSOS (the cannabis ETF), Tilray, and Canopy Growth (CGC) are the ones most directly affected. This is worth watching closely over the next few weeks as the market digests what the reclassification actually means for revenue and profitability.

Avis Budget's stock ran from around $100 to roughly $850 and then plunged 38% in a single day. Classic short squeeze: Pentwater Capital and SRS Investment Management held massive stakes that squeezed the remaining free float shares while a tariff narrative gave it cover. Then the squeeze…

The company has negative EPS and is burning cash. The fundamentals never supported an $850 stock price. And the people who got hurt worst are the retail traders who chased the parabolic move on the way up and couldn't get out when it reversed. The stock is down 67% since yesterday morning, for Pete’s sake!

We're not going to lie. This is the kind of trade we tell readers to stay away from unless they caught it early using tools like Reddit Alerts from our partners at AltIndex, and even then, it’s only for people content with losing what they throw in. If the only reason a stock is going up is because other people are buying it (not because the business is improving), that's not investing. That's musical chairs. And somebody always gets left without a seat!

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US stocks surged to fresh record highs on Wednesday as President Trump extended the ceasefire with Iran and investors piled into tech ahead of Tesla's earnings.

Oil topped $100 a barrel again as the Strait of Hormuz remained a flash point despite the extended truce.

SpaceX struck a $60 billion deal for the right to buy AI coding startup Cursor as Elon Musk continues transforming the rocket company into an AI behemoth ahead of its June IPO. The deal gives SpaceX the option to acquire Cursor or pay $10 billion for their joint work on coding and knowledge AI. SpaceX is targeting a $1.75 trillion to $1.8 trillion valuation, potentially the largest IPO in history.

American Airlines slashed its 2026 earnings outlook. Full-year EPS guidance went from $1.70 to $2.70 down to negative $0.40 to $1.10, driven by a $4 billion increase in fuel costs. This is the oil story hitting the real economy.

Prediction market Kalshi fined and suspended three politicians for trading on their own races during primary campaigns. The platform described the actions as "political insider trading" and handed out fines ranging from $539 to more than $6,200, with five-year suspensions. The candidates include Matt Klein (D-MN), Ezekiel Enriquez (R-TX), and Mark Moran (D-VA).

Shipping giants are pushing ahead with tariff refund claims despite President Trump warning he'll "remember" companies that seek the money. FedEx, UPS, and DHL have all confirmed plans to request refunds and pledged to pass the money along to customers. About $166 billion in tariff collections is eligible for refunds after the Supreme Court struck down IEEPA-based duties in February. At least 17 lawsuits have already been filed against companies like FedEx and Costco to ensure customers get their share.

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Brandon & Blake of Invested Inc