These Stocks Moved the Most Today: Tesla, Sunrun, Robinhood, Wolfspeed, Las Vegas Sands, Progress Software, and More

Traders work on the floor of the New York Stock Exchange. (Spencer Platt/Getty Images)

The Dow Jones Industrial Average rose sharply after the Senate narrowly passed President Donald Trump’s tax-and-spending bill. The S&P 500 and the Nasdaq Composite fell.

These stocks made moves Tuesday:

Tesla fell 5.3%. CEO Elon Musk criticized Trump’s bill, calling it “utterly insane and destructive,” while the president suggested that the Department of Government Efficiency (DOGE)–the department Musk helped run until the end of May–should look into his companies’ government subsidies.

Sunrun jumped 11%, SolarEdge Technologies rose 7.2%, and solar and wind stocks soared as Republican legislators stripped an excise tax on renewable energy projects from Trump’s bill.

Robinhood Markets fell 1.4%, a day after jumping 13% to a record high of $93.63 following the financial-services platform’s introduction of a series of new crypto-focused offerings to users in the U.S. and Europe. Included were perpetual crypto futures and tokenized stocks and exchange-traded funds for European Union users, and crypto “staking” and credit-card rewards for those in the U.S. Robinhood has risen 148% this year, according to Dow Jones Market Data.

Coinbase declined 4.3%. The cryptocurrency exchange was the best-performing stock in the S&P 500 during the second quarter, which ended Monday. Coinbase soared more than 106% from April to June, benefiting from a more relaxed regulatory environment under the Trump administration.

The worst S&P 500 stock last quarter was UnitedHealth, which dropped nearly 41%. The company’s troubles began in April, when the healthcare company slashed its full-year outlook, sparking a massive selloff. In mid-May, UnitedHealth pulled its guidance entirely, pointing to higher-than-expected medical expenditures, while CEO Andrew Witty resigned the same month due to “personal reasons.” UnitedHealth shares gained 4.5% on Tuesday.

Wolfspeed soared 98% to 79 cents after the chip component maker filed for a prepackaged Chapter 11 bankruptcy as part of a plan to restructure its debt. Wolfspeed expects to emerge from Chapter 11 protection by the end of the third quarter.

Las Vegas Sands rose 9%, Wynn Resorts gained 8.9%, and MGM Resorts climbed 7.3% higher. The casino operators, which have operations in Macau, jumped after the Chinese gambling region reported that gaming revenue in June rose 19% from a year earlier.

Progress Software reported fiscal second-quarter adjusted earnings that beat analysts’ estimates but revenue that missed. Shares of Progress Software fell 13%. The company also raised earnings forecasts for the fiscal year, and said it was buying Nuclia, a Spanish search start-up.

Meta Platforms declined 2.6%. The parent company of Facebook and Instagram rose 0.6% on Monday to close at a record high of $738.09. CEO Mark Zuckerberg announced a new “Superintelligence” division within the company, which will house Meta’s fundamental AI research team; the team that currently builds the company’s Llama models; and the team that develops Meta’s AI products, The Wall Street Journal reported, citing an internal memo it viewed that Zuckerberg sent to employees.

Write to Joe Woelfel at joseph.woelfel@barrons.com