“Trending Stocks to Watch: Tesla, Bitcoin, Sangamo, and Endeavour”

Despite a recent announcement from Tesla that its energy storage gigafactory in Shanghai has begun trial production, with mass production expected early next year, the company’s stock declined in premarket trade on Tuesday. The drop of 3.3% tracks a broader tech rout, which has hit the market amid concerns about the pace of Federal Reserve interest rate cuts in 2025.

Stock Performance

• Tesla stock has jumped around 68% for the year-to-date.
• The company’s stock continues to be closely tied to the actions and statements of its billionaire founder Elon Musk.

Musk, who has been embroiled in a series of controversial remarks recently, claimed that he would ‘go to war’ with the MAGA movement over skilled migrant visas. He also vowed to kick out any ‘hateful, unrepentant racists,’ marking the latest in a series of provocative statements.

Musk’s Defense of H-1B Visa Programme

Musk defended the H-1B visa programme as vital to America’s success. "The reason I’m in America along with so many critical people who built SpaceX, Tesla and hundreds of other companies that made America strong is because of H-1B," he wrote on X.

Impact on Stock Performance

Despite Musk’s recent outburst, the stock has continued to perform well, jumping around 68% for the year-to-date. However, the company’s stock decline in premarket trade on Tuesday suggests that investors are taking a cautious approach amid the broader tech rout.

Partnership with Pfizer Ends

Sangamo Therapeutics dropped almost 50% in premarket trade on Tuesday in the US, following news that pharma giant Pfizer is ending a partnership with the drug developer to make a new gene therapy to treat haemophilia A. Despite the fact the drug had met its goals in a late-stage trial, Pfizer has decided not to move forward with the project.

Assessment of Options

Sangamo said it is assessing ‘all options’ to continue making the drug. The company was planning to file for US and European approval early next year, but this decision by Pfizer throws a major hurdle in its path.

Price Movement

Bitcoin ticked cautiously higher on the final day of the year, after a rollercoaster year which saw it smash through previous all-time highs. The largest digital asset by market cap was trading at around $93,800 by mid-morning in London on a subdued day in markets.

Volatility

Over the last month, the asset has been volatile — heading to all-time highs past the $106,000 mark. This volatility is expected to continue as markets anticipate US president-elect Donald Trump’s incoming pro-crypto cast of advisers.

Trump’s Pro-Crypto Pledges

During the election cycle, Trump made several pledges in line with boosting the crypto industry. One such pledge was to build a national bitcoin reserve for the US. He also vowed to sack the crypto critical US Securities and Exchange Commission (SEC) chair Gary Gensler, with Paul Atkins, CEO of Patomak Partners and a former SEC commissioner, lined up to replace him.

Regulation

Atkins is known as a friend of the crypto industry and will likely be a softer touch on regulation. Trump also appointed former PayPal executive David Sacks as the first crypto and AI tsar. Sacks has previously argued that opening the doors to crypto adoption would spur on growth and encourage innovation.

Share Buyback Announcement

Endeavour stock was among the winners of the FTSE 100 (^FTSE) on Tuesday, climbing 1.8% after it announced a share buyback. The transaction will involve the repurchase of 15,700 of its ordinary shares as part of its ongoing buy-back programme.

Capital Structure Optimisation

The company said it was making the move in order to optimise its capital structure. This decision is likely to have a positive impact on the company’s stock performance and overall financial health.

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