Market Update: Tesla’s Robotaxi Euphoria Falters, GOOG and NVDA Lead S&P Higher

Published: June 25, 2025 by Omor IE

Key Points

The hype around Tesla’s robotaxi launch is morphing into concerns.
GOOG and NVDA have offset TSLA’s decline and have held the market in benign territory.
The Middle East ceasefire has also contributed to the stock market holding up.
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The broader market is up slightly today despite Tesla (NASDAQ: TSLA), a market heavyweight, dropping 4.6% today. TSLA stock has declined due to the excitement about the robotaxi launch tapering off. Uber (NYSE: UBER) and Waymo teamed up to offer an alternative shortly after Tesla’s announcement, and did so in a far bigger and more successful way.

On top of that, Tesla’s EU sales have tumbled for the fifth straight month, and the robotaxi launch has seen controversy due to videos showing its vehicles making erratic decisions on the road.

Regardless, the market is still seeing positive tailwinds from the Middle East ceasefire holding up so far. The Strait of Hormuz is still open, oil prices have declined, and President Donald Trump has said that the U.S. will be in direct talks with Iran next week. Normalcy in the Middle East is great news for the markets.

Here’s a market update as of 11:20 AM (ET) today.

The S&P 500 is up 0.87 points, or 0.01%.
The Nasdaq Composite is up 61.75 points, or 0.31%.
The Dow Jones Industrial Average is down 95.52 points, or 0.22%.

GOOG and NVDA Offset TSLA’s Decline

While Tesla has nosedived, the stock didn’t take the S&P 500 in the red with it due to Alphabet (NASDAQ: GOOG, NASDAQ: GOOGL) and Nvidia (NASDAQ: NVDA) showing considerable strength.

GOOG is up 2.5%, whereas NVDA is up 3.2%. Advanced Micro Devices (NASDAQ: AMD) is also up 3.1%. There has been a resurgence in chip stocks and AI stocks lately, so today’s gains are mainly a part of that.

Regarding Google specifically, the stock looks to be up today due to the company making big progress on AI tools. Google has unveiled Gemini CLI, which is an open-source AI tool for terminals. Analysts expect this new AI tool to draw in coders towards Google, especially because Google is offering it for free, whereas competitors are charging developers.

Notable Winners Today

Nektar Therapeutics (NASDAQ: NKTR) is up 36.2% after promising eczema drug trial results.
QuantumScape (NYSE: QS) is up 23.7% as the company integrated its Cobra separator process into its baseline cell production. This is a significant EV battery tech breakthrough.
AeroVironment (NASDAQ: AVAV) is up 20.2% due to better-than-expected drone demand fueling a quarterly beat. Revenue of $275.1 million, up 40%, trounced analyst expectations of $241.6 million. Adjusted EPS also came in higher at $1.61, vs. analyst expectations of $1.39.
Bumble (NASDAQ: BMBL) is up 18.1% due to the company planning a 30% workforce reduction.
TMC the metals company (NASDAQ: TMC) is up 16.7% after being upgraded by Wedbush. The new price target was raised from $6 to $11, which now implies around 45% upside.

Notable Losers Today

Torrid Holdings (NYSE: CURV) is down 37% due to a secondary offering at $3.5.
Allot (NASDAQ: ALLT) is down 17.2% after pricing a public offering at $8 per share.
SiTime (NASDAQ: SITM) is down 16.2% due to a $350 million common stock offering.
Nano Labs (NASDAQ: NA) is down 15.5% after soaring yesterday due to a $1 billion announcement in BNB.
ProFrac (NASDAQ: ACDC) is down 9.7% after a BofA downgrade.