LikeFolio Weekly Roundup

Stocks dropped again Friday as investors weighed a strong March jobs report against rising risks from deepening trade tensions. 

The U.S. economy added 228,000 jobs last month—well above expectations—pointing to solid hiring momentum before recent developments. 

But markets remained under pressure after China announced 34% retaliatory tariffs on U.S. goods late Thursday, targeting key sectors like agriculture, autos, and industrial equipment. The move was in direct response to the White House’s new import tariffs announced earlier this week, which applied broad levies to goods from multiple countries.

Federal Reserve Chair Jerome Powell said Friday the scale of the new tariffs could lead to both slower growth and higher inflation. That mix creates a more difficult backdrop for monetary policy. Powell acknowledged the economy now faces elevated risks on both employment and price stability, and while he didn’t announce any changes, markets continue to anticipate several rate cuts by year-end. 

For investors, recent job strength is no longer the focal point—the outlook increasingly depends on how the trade dispute evolves and how long companies can manage through rising costs and uncertainty.

Here’s an overview of the biggest news and largest movers in our portfolio in the last week through close on Thursday, April 3:

Infinite Hold Update 

Tesla (TSLA): Tesla announced its first quarter production and deliveries in a report on Wednesday: Vehicle production decreased 16% YoY with deliveries down 13% YoY. The company contributed much of the decrease coming from the Model Y refresh leading to several weeks of production loss. Analysts expected a decline in deliveries for Q1, with the decline appearing to be priced in. TSLA shares initially popped higher on the report before tariff news hit. 

Bitcoin: ended the week largely flat.

Amazon (AMZN): AMZN saw its shares impacted following the latest tariff plans as the company’s widespread global footprint finds itself more vulnerable to increasing tariffs. 

Aside from its tariff troubles, Amazon continues to pursue an ever growing list of ventures and investments with the latest being a takeover bid for TikTok in the United States. If Amazon successfully purchases the platform, TikTok’s 170 million monthly active users could provide a strong boost to Amazon’s ad business, though reports indicate that this bid is not being taken seriously by the involved parties.

Additionally, Amazon is preparing to launch its first set of 27 Project Kuiper satellites on April 9. This initiative is part of Amazon's plan to deploy a constellation of over 3,000 satellites to provide global broadband internet service, positioning the company to compete with existing providers like SpaceX's Starlink. The upcoming launch marks a significant step toward establishing Amazon's presence in the satellite internet market.

Portfolio Update

We logged some small wins this week in tariff resilient Costco (COST), Viant (DSP) ad tech, and Stride Inc. (LRN), which provides online and blended education programs for K–12 students. 

LRN drew increased interest from institutional investors last quarter. Arrowstreet Capital raised its position by over 780%, bringing its total stake to just over 1% of the company. The move adds to a wave of institutional accumulation, with 98% of Stride's shares now held by investment firms and hedge funds.

DSP received a 2025 Artificial Intelligence Excellence Award for its ViantAI platform, which automates media planning and campaign optimization through a chat-based interface. The award comes as more advertisers turn to Viant’s tools to reduce manual workload and improve campaign efficiency.

We’re also closing out some positions – taking some gains and removing risk. This will free up some capital to pounce on stocks now trading well off highs. 

• Accuray Inc. (ARAY) -24%: Capital exits and weak fund flows suggest limited near-term support for this medical device name—cutting before further downside.

• BlackBerry Ltd. (BB) +28%: Solid run-up met with a weak earnings reaction; locking in gains while sentiment turns cautious.

• Paysafe Ltd. (PSFE) +42%: Strong rebound has run into macro headwinds—eurozone weakness and e-commerce softness make this a good time to step aside.

• Payoneer Global Inc. (PAYO) -33%: Despite record 2024 results, the stock remains under pressure as investors question the durability of growth in cross-border fintech—cutting before momentum weakens further.