🌚 Solar Stocks Go Dark

Good afternoon! Novo Nordisk just made a billion-dollar blunder over a $450 fee. The Danish pharma giant behind Ozempic and Wegovy let its Canadian patent on semaglutide lapse after failing to pay a routine maintenance fee. Canada, the second-largest market for the drug, will now see generics hit shelves as soon as 2026. For a company pulling in billions, this slip-up is shaping up to be one of the most expensive clerical errors in pharmaceutical history.

The mistake comes as Novo faces mounting challenges. It's already struggling to keep up with demand, losing ground to Eli Lilly and smaller players producing compounded alternatives. Its next-generation drug pipeline hasn't impressed, and after a 50 percent drop in stock and the CEO’s recent resignation, that missed payment looks less like an oversight and more like a symptom of deeper issues.

MARKETS

• Markets lost steam Tuesday as fresh tension in the Middle East rattled investors. President Trump’s demand for Iran’s “unconditional surrender” and evacuation warnings for Americans in Tehran sent oil higher and stocks lower, with the S&P 500 falling 0.8%.

• Consumer and healthcare sectors were hit hardest, the latter dragged by reports of a possible pharma ad crackdown. A peaceful resolution looked less likely and Wall Street took notice.

STOCKS
Winners & Losers

What’s up 📈

• Verve Therapeutics exploded 81.50% on news that the gene-editing company will be acquired by Eli Lilly in a $1.3 billion deal. ($VERV)

• BGSF surged 33.58% after the staffing company announced it is selling its professional division to INSPYR Solutions for $99 million. ($BGSF)

• Reddit popped 6.05% after the social media site rolled out new AI-powered tools for advertisers. ($RDDT)

• Jabil gained 8.89% thanks to a strong earnings report for the electronics parts supplier. ($JBL)

• Oil stocks climbed as the conflict between Israel and Iran threatens to grow: Valero Energy rose 2.91% ($VLO), Chevron gained 1.93% ($CVX), and Hess added 1.81% ($HES).

What’s down 📉

• JetBlue Airways lost 7.88% after announcing cost cuts due to weaker travel demand. ($JBLU)

• United Airlines dropped 6.18% and Delta Air Lines fell 4.33% as oil prices rose and travel concerns mounted. ($UAL, $DAL)

• T-Mobile tumbled 4.14% after SoftBank sold 21.5 million shares in a large overnight offering. ($TMUS)

• Lennar sank 4.46% after missing profit forecasts despite beating revenue expectations. ($LEN)

• Microsoft slipped 0.23% following reports that its partnership with OpenAI is under stress. ($MSFT)

SOLAR
Senate Wants to End Wind, Solar Tax Credits

Senate Republicans just dropped their version of President Trump’s sweeping tax bill, and residential solar didn’t make the cut. The new proposal would scrap tax credits that once shaved thousands off the cost of rooftop solar, potentially expiring them just 180 days after passage.

That’s no small hit. Without credits, a $20,000 solar install becomes, well, a $20,000 install. For Sunrun, Enphase, and SolarEdge whose business models are tightly intertwined with those subsidies—it’s a nightmare scenario. Their stocks cratered on Tuesday, with Sunrun plunging 40% and its peers not far behind.

Winners, Losers, and the Not-So-Green Middle

Not all clean energy got burned. The Senate bill threw a bone to nuclear, geothermal, biofuels, and battery storage. Constellation Energy ticked higher, riding renewed support for nuclear. Fluence Energy surged 13% on battery optimism. Even utilities in solar-heavy states like California might get some relief from storage incentives.

Still, solar and wind will see their incentives fade starting in 2026, disappearing entirely by 2028. That’s only slightly better than the House version—and not the solar sector lifeline investors had hoped for.

Dimmed Hopes, Not Dead Dreams

There might be a loophole, though. Companies that sell electricity via power purchase agreements, instead of direct installs, could still qualify for some credits. Sunrun uses this model often, giving the industry a glimmer of hope if the language survives into the final bill.

Bottom line: Rooftop solar isn't dead, but it's definitely feeling under the weather. Investors hoping for a Senate rescue are learning that sometimes the (sun)light at the end of the tunnel is just a tax code change.

NEWS
Market Movements

• 🔥 Tinder revives ‘Double Date’ to woo users: Match Group relaunched Tinder’s “Double Date” feature to entice younger users as paid subscribers fall. The feature lets users match in pairs and is being pitched as a “low-pressure, group-first” experience after early success in Europe ($MTCH).

• ⚔️ OpenAI and Microsoft clash over deal terms: Tensions between OpenAI and Microsoft are rising as the firms battle over stake sizes, revenue splits, and cloud exclusivity. OpenAI is reportedly considering antitrust action amid disputes tied to its planned acquisition of AI app Windsurf ($MSFT).

• 🚀 Reddit soars on options frenzy and ad rollout: Reddit stock jumped 6% as AI-powered ad tools were unveiled, but the real fuel came from a spike in options activity — 102,000 calls traded before midday. Some traders speculated the Trump admin’s pharma ad crackdown may have boosted Reddit by comparison ($RDDT).

• 💊 Trump plans crackdown on pharma ads: A draft policy from the Trump administration would add legal and financial hurdles to direct-to-consumer drug ads. The move, while not a total ban, could reshape the $10B pharma ad market and hit firms like Publicis and Omnicom ($OMC, $PUBGY).

• 🤖 Amazon warns AI will cut jobs: CEO Andy Jassy told employees that Amazon’s corporate headcount will shrink in the coming years as generative AI becomes more embedded in daily workflows. He encouraged staff to embrace “scrappier teams” and learn AI tools, as the company invests heavily in automating operations like forecasting and warehouse logistics ($AMZN).

• 📉 SoftBank dumps $4.9B in T-Mobile stock: T-Mobile shares slid 4% after SoftBank sold 21.5M shares at $224 apiece, raising $4.9B to fund AI investments like its OpenAI partnership. The trade was the largest U.S. block deal since February and represents about 1.9% of T-Mobile’s public float ($TMUS).

• 🪙 JPMorgan unveils blockchain deposit token: JPMorgan launched JPMD, a stablecoin-like digital deposit token designed for institutional use on Coinbase’s Base blockchain. The bank says JPMD will offer faster settlements and better integration with traditional systems than public stablecoins like USDC or USDT ($JPM).

• 🚗 Tesla stock slides on free cash flow fears: Wells Fargo warned that lower Q2 deliveries, reduced regulatory credits, and weak Model Y demand could push Tesla into negative free cash flow territory for the first time since 2018. It maintained an Underweight rating and a $120 price target ($TSLA).

• 📈 Robinhood rolls out tools to keep traders hooked: Robinhood added advanced charting and options simulators to its mobile app as part of a 10-year plan to become a full-service finance firm. The features aim to deepen engagement with younger users, who drive the bulk of its trading revenue ($HOOD).\

• ⚡ Duracell sues Energizer for false advertising: Berkshire Hathaway’s Duracell claims Energizer’s new battery campaign misleads consumers about performance superiority and is suing for financial damages ($BRK.B, $ENR).

• 👗 Rent the Runway grows subscribers despite losses: Rent the Runway added 23% more active subscribers QoQ, now at 147,000, and plans to double inventory — though revenue dropped 7.2% and shares are down 40% YTD ($RENT).

• 🕵️ Palantir faces heat over Trump-era contracts: Ten Democratic lawmakers are questioning Palantir’s $113M+ in federal contracts, citing risks of mass data consolidation and potential privacy violations ($PLTR).

• 🛍️ Amazon extends Prime Day to four days: Amazon will hold a four-day Prime Day event from July 8–11, including daily “deal drops” to drive more Prime signups and sales ($AMZN).

• 🥫 Kraft Heinz to remove artificial dyes by 2027: Kraft Heinz plans to eliminate artificial dyes from all U.S. products in response to mounting regulatory scrutiny and consumer health concerns ($KHC).

STOCK
Regencell’s mind-bending 59,000% rally turns a mystery stock into a $30 billion giant

You’ve probably never heard of Regencell Bioscience and you’re not alone. The Hong Kong-based herbal medicine company makes no money, has no product on the market, and was trading like a penny stock just a few months ago. Now? It’s worth more than Dropbox and Wayfair combined.

Shares of Regencell ($RGC) exploded after a 38-for-1 stock split last week, soaring 283% in a single day and more than 59,000% this year. The stock has become so volatile it triggered over 10 halts Monday alone. But unlike most meme rallies, this one isn’t backed by Reddit hype or any earnings, for that matter.

A Rally Built on Vapor

Here’s the setup: Regencell has a tiny float (just 6% of shares are publicly available), and nearly all the rest is owned by insiders, including its CEO Yat-Gai Au whose stake is now worth over $30 billion. With so few shares out there and short interest topping 94%, the ingredients are there for a monster squeeze. That’s exactly what seems to be happening.

The company itself? Still in R&D, working on traditional Chinese medicine formulas for ADHD and autism. It has no regulatory approvals, no distribution capacity, and hasn’t sold a single product. But that hasn’t stopped it from raising money, including $21 million from its 2021 IPO and additional rounds since. It even briefly flirted with Covid treatments in 2022.

From Penny Stock to Billionaire Factory

Regencell’s rise has turned heads and made its execs rich. But with its chief medical officer role vacant since 2022 and zero proven therapies on the market, the surge is raising serious eyebrows across Wall Street. Even the company’s founder admits it's his “passion project,” not a polished pharma play.

Bottom line: Regencell might be the clearest example of how financial alchemy, low float, and a well-timed stock split can conjure billions in value without a dollar of revenue in sight. Blink, and the next halt might just be reality catching up.

Calendar
On The Horizon

Tomorrow

Wednesday’s earnings calendar is a snoozefest, but housing data will give markets something to chew on. The latest report on housing starts will show how many new homes broke ground last month, offering clues about whether builders are finally addressing the chronic supply crunch frustrating buyers.

But the main event hits in the afternoon, when the Fed wraps up its latest policy meeting. All eyes will be on Jerome Powell, who’s widely expected to keep rates steady—Wall Street is pricing in a 99% chance of no change. No surprises, just vibes.

Final Chance to Own a Piece of Virtuix

Virtuix is redefining the future of immersive entertainment — and time is running out to join in. Its flagship “Omni” treadmill lets users physically walk and run in 360 degrees through virtual worlds, with real-world applications across gaming, fitness, and military training.

✅ $18M+ in product sales
✅ 400K+ registered players
✅ 4X revenue growth in the last fiscal year
✅ Backed by $40M+ from top investors, including Shark Tank’s Kevin O’Leary

With over $2.7M raised in this round, investor demand is accelerating — but the raise closes June 20.

This is your final chance to back one of the most exciting players in the VR space.

Invest in Virtuix. Closing Soon.

_{This Reg CF offering is made available through StartEngine Primary, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.}

NEWS
The Daily Rundown

• 🖥️ OpenAI Snags $200M Defense Deal, Eyes Microsoft: OpenAI won a $200 million contract to supply AI tools to the U.S. Department of Defense. At the same time, it’s reportedly exploring an antitrust case against Microsoft, one of its largest investors, citing concerns over competition in the AI space.

• 📲 WhatsApp Reverses Course on Ads: Meta will begin placing ads in WhatsApp’s Updates tab and allow creators and brands to monetize channels through subscriptions. While direct messages will remain ad-free, users who link WhatsApp to Instagram or Facebook will receive more personalized ads. The move reflects Meta’s push to monetize WhatsApp’s 3 billion global users as it spends billions on AI.

• 📉 At Home Files for Bankruptcy: Home décor chain At Home filed for Chapter 11 bankruptcy due to $2 billion in debt and pressure from tariffs on Chinese imports. The company plans to close 26 stores, secure a $200 million loan, and restructure its operations.

• 🎤 Joey Chestnut Returns to Hot Dog Contest: Competitive eating icon Joey Chestnut will compete in this year’s Nathan’s Fourth of July contest after missing last year due to a sponsor dispute. The 16-time champion holds the record of 76 hot dogs in 10 minutes and is expected to draw huge crowds.

• 🗽 Louvre Staff Strike Over Tourist Overload: The Louvre Museum in Paris shut down temporarily as staff walked out in protest of overwhelming visitor numbers and staffing shortages. Workers say daily attendance of 30,000 exceeds capacity, and the French government’s renovation plan isn’t enough to address the pressure.

• 🧾 Senate GOP Tax Bill Retains SALT Cap: Republicans released a new tax plan that keeps the $10,000 cap on state and local tax deductions, but calls it a placeholder. The bill also outlines deeper Medicaid cuts to help fund broad tax breaks as negotiations continue.

• 💳 AmEx and Chase Reignite Credit Card Wars: AmEx and Chase are revamping their flagship Platinum and Sapphire Reserve cards with higher fees and expanded perks like airport lounges and dining rewards. AmEx is targeting Gen Z consumers, betting on long-term retention with lifestyle perks and exclusive access.

• 🔫 Minnesota Shooting Suspect Had More Targets: Federal prosecutors say Vance Boelter, who is accused of killing one lawmaker and injuring another, had plans to target two additional state legislators. One was out of town, and police arrived at the other’s home in time to prevent another attack. Boelter is being held without bail on murder and stalking charges.

• 🧵 Kering Names Auto Exec as New CEO: French luxury group Kering, parent of Gucci, tapped former Renault CEO Luca de Meo to lead the company. Known for turning around struggling automakers, de Meo is expected to address Kering’s mounting debt and declining sales. Renault shares dropped on the news.

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