Stock Movers: Tesla Robotaxi Debut, Circle's Stablecoin Surge, Hims & Hers Partnership Collapse

Market Close Overview

• 📊 The S&P 500 saw a broad advance with 399 names gaining ground, particularly in the last 10-15 minutes of trading.
• 📉 Only the energy sector finished in the red, with 22 out of 23 big-cap energy names declining, except for Kinder Morgan.

Tesla's Robotaxi Rollout

• 🚀 Tesla shares surged approximately 8.25%, marking its biggest intraday rise since late April.
• 💡 The company launched its long-promised driverless taxi service to a limited number of riders in Austin, Texas, on Sunday.
• ✅ The debut was described as largely uneventful and a critical milestone for the stock's bulls.

Circle's Stablecoin Legislation Boost

• 📈 Circle (CRCL) shares extended gains for a third consecutive session, rallying significantly.
• 💰 This surge is attributed to the Senate passing stablecoin legislation last week.
• 🚀 The company has seen an over 800% increase since its IPO on June 5th.

Hims & Hers Partnership Dissolution

• 📉 Hims & Hers (HIMS) shares plummeted over 34% after Novo Nordisk scrapped its partnership.
• ⚠️ Novo Nordisk cited deceptive marketing by Hims in selling compounded versions of its obesity drug.
• 🗣️ Hims CEO Andrew Dudum called Novo's comments misleading, stating Novo pressured Hims to steer patients to Wegovy, which Hims refused.
• 📉 Novo Nordisk ADRs also fell over 5% on the news.

Other Notable Stock Movements

• 🏦 Northern Trust shares rose about 8% on reports that Bank of New York Mellon approached the company for a possible merger, which could create a large custodian bank.
• 💻 Super Micro Computer shares fell nearly 10% after announcing plans to offer $2 billion in convertible senior notes due in 2030 to fund share repurchases and business expansion.
• 💊 Compass Pathways (CMPS) ADRs dropped 49% after its psilocybin drug trial for depression showed only a 3.6% symptom reduction compared to a placebo, disappointing investors.