Tuesday was a broad rally across the names we track. By Wednesday pre-market, futures had erased it, right after Meta and Tesla both reported earnings after the Tuesday close, one stock jumping, the other falling. We checked what we could confirm about each before writing this.
This wasn't one stock having a good day. Across our own tracked universe, the move was concentrated in AI infrastructure and cybersecurity names: Super Micro Computer (SMCI) +9.5%, Applied Digital (APLD) +8.5%, Zscaler (ZS) +7.8%, Okta (OKTA) +7.5%, Strategy (MSTR) +7.5%, and newly-public SpaceX (SPCX) +7.8%. The Nasdaq-100 (QQQ) closed the regular session up 1.05%.
Both companies reported after Tuesday's close. Meta jumped 2.36% in after-hours trading to $714, on top of a regular session that had already closed up 0.47%. Tesla fell 3.33% after hours to $373.60, despite a strong regular session that closed up 3.41%.
What we couldn't verify: the actual revenue, EPS, or guidance numbers behind either reaction. Our own data feed's financial statements still show Q2 (ended June 30) as the most recent reported quarter for both companies, meaning Q3 hasn't synced yet. A broader search turned up only pre-earnings estimates and previews, nothing confirming the real numbers. So we're reporting the price moves as fact and leaving the "why" open rather than guessing at a guidance cut or a margin miss we can't confirm happened.
By early Wednesday morning, Nasdaq-100 E-mini futures (NQ1!) were down 1.30%, to 29,617.50. That's a bigger move than two mega-caps swinging a few percent in opposite directions would typically produce on their own: Meta's gain and Tesla's loss should partly cancel out at the index level, not add up to a broad decline. Either something else moved overnight that we haven't identified yet, or the market is reading more into the Tesla reaction than the headline number suggests. We don't have a confirmed answer either way as of writing.
Tuesday's rally wasn't fake. The move was real and verified across six names before any earnings news hit. What's unclear is whether Wednesday is a one-day earnings pullback that fades once the broader tape opens, or the start of something that outlasts the Meta/Tesla story. We'll know a lot more within the first hour of regular trading. If you want to track this live rather than wait for our next post, every name here (SMCI, APLD, ZS, OKTA, MSTR, SPCX, META, TSLA) is on the map in AI007, with the same live pricing we used to write this.
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