LikeFolio Weekly Roundup

Markets entered the week on shaky ground and continued to lose momentum as a combination of earnings disappointments, trade policy developments, and Fed tension weighed on sentiment. UnitedHealth’s first-quarter earnings miss and sharp guidance cut led to a 19% drop in the stock, dragging the Dow more than 600 points lower on Thursday. 

Nvidia also remained under pressure after the U.S. Department of Commerce announced additional restrictions on AI chip exports to China, contributing to a $5.5 billion charge and a multiday selloff in the stock. Read our take here if you missed it.

Broader tech sentiment weakened as AMD was also pulled into the fray. Still, chip optimism wasn’t completely erased. Taiwan Semiconductor posted a 60% jump in Q1 profit and reported no disruption from tariffs so far.

Meanwhile, the Fed remains unmoved despite growing calls for action. President Trump renewed his push for lower rates, criticizing Chair Jerome Powell in a Truth Social post and blaming Powell’s hesitation for holding back U.S. growth. 

Trump pointed to falling oil and grocery prices and growing tariff revenue as justification for rate cuts, contrasting Powell’s inaction with the European Central Bank (ECB), which has already cut interest rates six times and is expected to lower them again to support growth in Europe. 

Powell acknowledged the challenge during a speech in Chicago this week but gave no indication of a policy shift.

Earnings after the bell from Netflix could set the tone heading into Friday’s market holiday. Expectations are elevated following a strong Q4, but digital traffic data has been trending lower since the holidays. The platform’s recent live sports push helped boost engagement last quarter, yet interest appears to have waned in Q1. A pullback in consumer acquisition signals and weaker content trends may impact results. With the market closed Friday, Netflix's print will likely shape sentiment heading into next week.

Landon talked about NFLX today on the Schwab Network – watch it here.

Here’s an overview of the biggest news and largest movers in our portfolio in the last week through close on Wednesday, April 16:

Infinite Hold Update 

Tesla (TSLA): Tesla introduced a new rear-wheel-drive Cybertruck variant this week, priced at $69,990, offering up to 250 miles of range, and reduced production targets for the vehicle as it reallocated some staff at the Texas Gigafactory to support stronger Model Y output. The Model Y is approaching a design refresh, codenamed “Juniper,” expected to launch in the U.S. later this year. The update includes a new dashboard, improved materials, ambient lighting, and more efficient drive units—similar to enhancements recently introduced in the Model 3 “Highland” refresh already available in Europe and Asia. Elon Musk reiterated that Tesla plans to enable vehicles to deliver themselves using Full Self-Driving by the end of 2025, reducing logistics costs and showcasing FSD progress. In California, Q1 registrations fell 15.1% year-over-year – the media attributed this to brand backlash and rising competition. Important to note some of this also lines up with a typical demand pause ahead of a model refresh.

Andy discussed Tesla’s growth prospects on this week’s Founder’s Call – watch it here.

Bitcoin: Bitcoin hovered around $84,700 this week, showing resilience despite midweek volatility in equities. After sliding briefly Wednesday following Fed Chair Jerome Powell’s comments, the cryptocurrency bounced back. Powell made it clear the Fed has no intention of intervening in struggling markets, which kept rates firm. While crypto remains sensitive to shifting policy expectations in the short term, sentiment is beginning to recover. The crypto fear index is moving out of “extreme fear” territory, and Bitcoin’s ability to hold steady near recent highs points to renewed confidence.

Amazon (AMZN): Amazon reports Q1 earnings on April 29, with revenue expected to grow around 7% year over year to $151 billion. The company has faced tariff-related headwinds, recently canceling select product orders from Asia to manage costs. Despite this, it is moving ahead with a $15 billion U.S. warehouse expansion and plans to invest over $100 billion in AI infrastructure in 2025. Shares have pulled back more than 20% from February highs, setting the stage for a potentially strong response if the company delivers on growth and margin improvement.

Portfolio Update

Costco (COST), Dutch Bros (BROS), and Stride (LRN) continue to outperform the overall market – each logging small wins this week amid rising pressure.

We also saw some moves to the downside:

HOOD (Robinhood): -6%
ARK Invest bought over 60,000 shares of Robinhood this week as the stock dipped. LikeFolio data remains resilient (engagement rocketing as retail traders buy the dip) and our position remains strong – up more than 100% in just over a year. We remain bullish.

NOTE (FiscalNote): -5%
FiscalNote rolled out a new tariff tracker inside its PolicyNote platform, offering clients real-time tools to monitor shifting U.S.–China trade activity. The product launch comes at a moment when policy risk is rising, and few public companies are offering direct tools to help businesses navigate it. Smart move. But the stock is a laggard in our portfolio. Watching closely for potential exit.

RDDT (Reddit): -5%
Reddit set its Q1 earnings date for May 1. This will be the company’s first report since going public, with performance tied closely to ad revenue trends and user growth on its core app. LikeFolio metrics show strong engagement, with visits up nearly +50% YoY. 

SOUN (SoundHound AI): -6%

SoundHound is scheduled to report Q1 earnings on May 8, with analysts expecting a loss of $0.07 per share. The company is facing a class action lawsuit tied to claims it misled investors about its 2024 acquisitions, but operational momentum remains intact. Voice AI integrations span major automakers including Hyundai and Mercedes-Benz, and its $1 billion revenue backlog offers visibility through 2030. Data remains strong on our end.