Tesla Sales Decline, KB Home Earnings Miss, Trump Media Crypto Partner

On this episode of Stock Movers: - Tesla stock is higher this morning along with the entire global auto sector, despite dismal news on European sales. Sales in Europe have fallen in 10 of the last 12 months, with a 40% drop in February compared to the same month last year. The company's sales declined 43% in the first two months of this year, despite a 31% rise in industrywide EV registrations. Tesla is counting on its redesigned Model Y to boost sales while Cathie Wood's Ark Investment Management expects Tesla's stock to hit $2,600 in five years, with 90% of its value coming from robo taxis.- Trump Media and Technology Group shares jump 10% in premarket trading Tuesday after signing a non-binding agreement to partner with Crypto.com for a series of ETFs through its Truth.Fi brand. America-first investment funds to launch in 2025 alongside a slate of Truth.Fi SMAs. Trump Media will invest up to $250m of its own cash in ETFs and SMAs, custodied by Charles Schwab.- KB Homes is down significantly after reporting first quarter earnings that missed estimates and a revenue drop. The figures are much lower than expected due to affordability concerns and it could signal concern over the American housing complex.- Carvana shares are up after Morgan Stanley analyst Adam Jonas upgraded the stock to overweight from equal weight, saying the pullback in shares creates an attractive entry point for investors.See omnystudio.com/listener for privacy information.