Stock Market Winners & Losers: Wall Street Builds on Record Highs | Tesla’s Hittin’ Potholes | “Mean Girls” Movie Musical is a Hit

Winner: Wall Street Builds On Record Highs
On Friday, the S&P 500 reached a new record high after over two years, driven by a tech rally. Investors, optimistic about the economy's health, are closely monitoring upcoming earnings reports, particularly from companies like Netflix and Tesla, for indications of a potential AI boom in the tech sector.

Loser: Tesla’s hittin’ potholes
On Wednesday, Tesla is expected to announce higher sales but lower profits. In the last quarter, Chinese carmaker BYD surpassed Tesla as the world's leading electric vehicle (EV) seller. Some versions of Tesla's Model 3 no longer qualify for US tax credits, and as US EV growth slows, car-rental chains like Hertz and Sixt have sold off numerous EVs, including many Teslas. Tesla has reduced prices multiple times, most recently in Europe. The Cybertruck has received mixed reviews. Despite Tesla's ability to emphasize AI and labor-saving robots, its stock is down 15% at the beginning of the year. EV sales grew by around 30% year over year, but increased supply with more automakers entering the EV market has contributed to this growth. The average analyst target price for Tesla stock is approximately $237, and the stock was up 1% in premarket trading to $214.30.

Winner: "Mean Girls" Movie Musical Is a Hit
Movie musicals are experiencing a resurgence, with recent successes at the box office indicating a positive reception from audiences. The "Mean Girls" musical, a remake of the 2004 Lindsay Lohan film, earned $33 million in its opening weekend. "Wonka," starring Timothée Chalamet, has surpassed half a billion dollars globally after a month in theaters. "The Color Purple" has reached over $58 million in three weeks, and "The Little Mermaid" has garnered over $298 million. The popularity of the music industry is contributing to a trend towards more music-centric movies, concerts, musicals, and biopics. However, not all recent movie musicals, such as the "West Side Story" remake, "Dear Evan Hansen," and "In the Heights," have been successful.

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