NEWS
The Last Daily Rip Ever

Source: Tenor

Some of you may be thinking today’s title is a farce because it’s April Fool’s Day, but alas, it’s true. This will be the last daily rip ever…written by me only! I’m excited to announce our new Senior Writer, Kevin Travers, is officially on board at Stocktwits and will begin taking the reins over the coming weeks. Kevin joins us from MooMoo, so he knows the world of social finance well and has written for various publications, including CNBC, deBanked, Fintech Nexus, and more. We’re stoked to have Kevin join us and encourage you to follow him on Stocktwits and say hello! 🥳 

Other than that, it was a turnaround Tuesday for stocks, which started low but closed out a volatile session in the green. “Liberation Day” awaits the market tomorrow after the bell, with Trump set to deliver a speech from the White House Rose Garden. Plus, labor market data remains in focus as investors fret over a potential recession. 😬 

Today’s issue covers a look into tomorrow’s reciprocal tariffs, $WTF is happening with two recent IPOs, Johnson & Johnson’s latest bankruptcy block, and more from the day. 📰

Here’s the S&P 500 heatmap. 9 of 11 sectors closed green, with consumer discretionary (+1.04%) leading and healthcare (-1.83%) lagging.

Source: Finviz

And here are the closing prices: 

ECONOMY
It’s Time To Reciprocate 👿 

All eyes turn to the economic data ahead of tomorrow’s “Liberation Day,” where President Donald Trump is expected to announce a set of tariffs that he says “will free the U.S. from a reliance on foreign goods.” The reciprocal tariffs are expected to match the duties of other countries charge on U.S. products. ♾️ 

However, investors, government leaders, and other stakeholders still have many questions about how these tariffs will be implemented, or what rate will be applied. Peter Navarro, the White House trade adviser, said the measures could raise up to $600 billion annually, which would imply a 20% average rate.

The uncertainty continues to hurt consumer and business confidence, with Bloomberg’s Joe Weisenthal pointing to “one of the ugliest, most stagflationary ISM-manufacturing reports we’ve seen in a long time.” 😱 

Survey respondents from across industry groups are flagging tariffs and their impact on profitability and demand, with some noting that conversations about impacts and mitigation strategies are happening daily.

As for consumers, the RCM/TIPP Index showed confidence softening from March to April, falling to 49.1, marking its second consecutive month in pessimistic territory. Leading the decline was respondents’ six-month economic outlook and confidence in federal policies, which declined 2.6% and 2.5% MoM.

Meanwhile, it’s a big week for the labor market, though February’s JOLTs report didn’t provide much ammunition for bulls or bears. The total number of job openings was essentially flat at 7.6 million, with the number of job openings to available workers hovering just above 1. Quits, layoffs, and other separations were little changed, showcasing the economy’s slow-melting labor market conditions.

Of all the headlines moving markets, tariffs remain the key. A Stocktwits poll indicates roughly 46% of the 8,400+ voters see tariffs as the real threat. Meanwhile, sentiment for three of the four major indexes is still bullish. Clearly, the recent technical bounce and longer-term fundamental issues are making this a tough market to read. 😵‍💫 

Source: Stocktwits

Even leaders around the globe are struggling to make decisions amid the uncertainty. The Reserve Bank of Australia held interest rates steady, citing an ‘uncertain’ future with China and Trump’s tariffs. We’re all waiting with bated breath.

We’ll be streaming Trump’s tariff announcement (from the White House rose garden) tomorrow after the bell live on the $SPY stream. Join us then to see the market’s reaction and how people are trading it! 👀 

IPOS
$WTF Is Happening With These IPOs? 🤪 

Newsmax’s massive run continued today, with the stock trading up another 183% to close at $233 per share (and higher after hours). 🤯 

The move pushed its market cap to over $32 billion, making it larger than 235 S&P 500 companies. Its trailing-twelve-month sales, though, are just $156 million. That’s 78% below the company with the lowest sales in the index. (h/t Charlie Bilello)

Notably, as prices soar higher and higher, sentiment on Stocktwits is getting worse and worse. Today’s poll on Stocktwits indicated 61% of respondents wouldn’t recommend the stock to a friend (and 22% would recommend it to an enemy 😂 ).

Source: Stocktwits

Meanwhile, Waton Financial Ltd. raised $17.5 million via its public offering today under ticker symbol $WTF. And “what the f#$k?” is right, lol. The Hong-Kong-based Fintech is the latest low-float Chinese IPO to catch fire. We’ll see if it can maintain that trajectory, or if it falls back to earth like those that came before it. 🤷 

Source: Stocktwits

Lastly, since we’re talking about squeezes…we need to bring up orange juice. After a historic decline from its recent highs, technical analysts suggest prices are now ready to begin growing again. 🤔 

They’ve stabilized at former support/resistance, there’s a bullish momentum divergence, and they are more extended from their 200-day moving average than they’ve been in decades. All that could be setting up for a sweet move higher toward potential resistance near 290, 345, and 405…only if the recent lows hold. 🤞 

Source: TradingView

STOCKS
Other Noteworthy Pops & Drops 📋️ 

Intel ($INTC -3%) fell Tuesday, alongside a cautious tech market, despite positivity from new Chief Lip-Bu Tan on Monday’s Intel Vision 2025 keynote. At the event, Tan said he has done nothing but listen to customer critiques since taking the reins two weeks prior and that the firm has a lot of work ahead.

Shares of SHF Holdings, Inc. ($SHFS -2%) fell more than 2% on Tuesday after the company’s full-year revenue declined and net losses widened significantly. The firm reported that full-year revenue shrank 13% from 2023 to $15.24 million, on a net loss that widened to $48.32 million.

Duke Energy ($DUK -0.7%) fell Tuesday after the company announced Harry Sideris as its new chief executive officer. The news follows the natural gas and utilities firm’s announcement that it received a 20-year license to renew the operation of the Oconee Nuclear Station.

Bitcoin ($BTC +3%) rebounded from last week’s losses, climbing past $85,000 in U.S. ahead of the Trump administration’s reciprocal tariffs, which are set to take effect on Wednesday.

Red Cat ($RCAT +8%) shares climbed more than 8% on Tuesday, bucking a broader market decline, despite posting a loss of $57C a share Monday night. The firm’s CEO highlighted international expansion goals and expressed confidence in government support for drone technology under the Trump administration.

Interactive Brokers Group, Inc. ($IBKR +4%) rose over 4% on Tuesday after the company reported strong metrics for March 2025. Daily average revenue trades climbed 44% year-over-year to 3.471 million but dropped 4% compared to February.

Polar Power Inc. ($POLA +0.8%) fell early Tuesday after the firm reported a 27% drop in revenue for its most recent quarter compared to the same period a year ago. The firm’s net loss narrowed to $3 million or $1.22 per share compared to a loss of $3.16 million or $1.66 per share in the year-ago period.

Shares of GlobalFoundries ($GFS -3%) and United Microelectronics ($UMC – 2%) fell, in part after a note from Bank of America cautioning that any potential merger between the two companies would be “very complicated,” TheFly reported.

PRESENTED BY STOCKTWITS
Ben Cahn Crashes Tuesday’s Daily Rip Live 👀 

“The Weekend Rip’s” Ben Cahn joined Katie Perry on Daily Rip Live to discuss Monday’s comeback, what “Liberation Day” could mean for stocks, a potential Tesla short squeeze, the parabolic Newsmax IPO, and what to short as a recession looms.

Plus, Ben’s top biotech pick, which he calls his “highest conviction long.” Check out all that and more down below. 👇️ 

COMPANY NEWS
Johnson & Johnson Blocked from Bankruptcy Settlement, Again 💀 💀 💀 

A judge in Texas dismissed the healthcare company’s third attempt to resolve its class action lawsuit liabilities from talcom powder issues through a $10 billion chapter 11 filing. The firm planned to settle class action claims against its subsidiary Red River Talc through a bankruptcy filing.

Source: Stocktwits

U.S. Bankruptcy Court Judge Christopher Lopez rejected the plan, sending shares falling 7% on Tuesday. The plaintiffs allege that the firm helped push the use of baby powder while knowing the risks it caused toward ovarian cancer. J&J has repeatedly petitioned its innocence and said in reaction to the new decision that it had beaten 16 out of the last 17 cancer cases, according to Benzinga.

The judge ruled that the firm used a flawed process to solicit votes from tens of thousands of injury claimants, the Wall Street Journal reported.

J&J faced a trial after shifting its talc-related issues to a subsidiary, in what the Wall Street Journal called a “Texas Two Step,” by filing for chapter 11 to push all lawsuits to bankruptcy court. Earlier in 2023, similar bankruptcy cases on behalf of another J&J subsidiary were dismissed in New Jersey after the court found there was no qualifying financial distress. 🤠 

Last year, the firm made its third attempt, this time filing a case in Houston. J&J said Tuesday it would return to the civil justice system rather than pursue an appeal.

In other J&J news, the firm said Tuesday it expects its ongoing acquisition of Cellular Therapies to cost shareholders about $0.25/share in 2025. 💰️ 

WHAT’S ON DECK
Tomorrow’s Top Things 📋

Economic data: ADP Employment Change (8:15 am), Factory Orders (10 am), EIA Energy Inventories (10:30 am), Fed Kugler Speech (4:30 pm). 📊

Pre-Market Earnings: BlackBerry ($BB), Cognyte Software ($CGNT), AngioDynamics ($ANGO), UniFirst ($UNF). 🛏️

After-Hour Earnings: RH ($RH), Clearsign Technologies ($CLIR), Logistic Properties ($LPA), Penguin Solutions ($PENG), Bassett Furniture Industries ($BSET). 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

Links That Don’t Suck 🌐

🧑‍🏫 Expert market insights await! Attend MoneyShow Masters Symposium Dallas, Apr 4-5. Sign up HERE!)*

🤖 Meta’s head of AI research announces departure

😐️ Cory Booker’s marathon speech ranks among the Senate’s longest

🪙 Stablecoin issuer Circle files for IPO as public markets open to crypto

💸 Restaurant chain Hooters files for bankruptcy to enable founder-led buyout

🚘️ Volkswagen, Stellantis and other carmakers hit with $495 million EU cartel fine

💊 Hims & Hers shares rise as company adds new weight-loss medications to platform

🤖 Got questions about the quantum computing industry? Ask $IONQ’s CEO in a Stocktwits-exclusive interview

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

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