Good morning and happy Monday!

Investors ran wild last week, looking for ways to play — or wait out — Trump’s sweeping tariffs. Insiders were no exception. A Congressman quietly dumped his Tesla shares. A CEO made a jaw-dropping $900 million buy. A fund manager doubled down on Uber despite all the noise in the gig economy.

Here’s what went down.

P.S. This newsletter was drafted Friday. Want these trade alerts as they happen? Join Elite Insider here.

🚗 Dwight Evans Bails on Tesla

On April 2, 2025, U.S. Representative Dwight Evans (D-PA) disclosed the full sale of his position in Tesla Inc. $TSLA ( ▼ 0.58% ) , valued between $1,001 and $15,000. The transaction took place on October 29, 2024.

That same day, the company’s CEO Elon Musk echoed an X user who predicted the “market will tumble” if then-candidate Donald Trump were elected president and followed through on his economic plan. Commenting on the post, which predicted “an initial severe overreaction in the economy”, Musk wrote, “sounds about right.”

Rep. Evans might not have sold his holdings in response to a tweet. But the sale does (belatedly) foreshadow of a broader trend: cooling enthusiasm around Tesla and Musk. The EV maker has been battling slumping sales, growing competition, and mounting backlash over Musk’s role in federal job cuts and government agency closures.

Trump’s tariffs did indeed stoke market turbulence. And Tesla has taken a harder hit than most, with its stock falling 36% in the first quarter alone. Evans’ decision to divest may reflect an early recognition of the challenges brewing beneath the surface.

💥 Stagwell CEO Makes a $912M Power Move

On April 2, 2025, Stagwell Inc. $STGW ( ▼ 1.43% ) CEO Mark Jeffery Penn disclosed a massive insider purchase of 151,648,741 shares at an average price of $6.02 per share. The purchase totaled nearly $913 million.

This isn’t your typical executive buy. It’s one of the largest insider purchases disclosed this year, and a bold statement from Penn, who’s clearly betting big on his marketing and communication company’s future.

Stagwell has had a rough ride lately, facing slowing ad spending and macroeconomic headwinds that pushed the stock deep into the red. Penn’s aggressive move suggests he thinks the market is missing the bigger picture — and believes Stagwell is poised to bounce back stronger than ever.

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🚕 Lederer & Associates Doubles Down on Uber

On April 2, 2025, Lederer & Associates Investment Counsel disclosed that it added 19,033 shares of Uber Technologies Inc. $UBER ( ▼ 0.15% ) at an average price of $72.86 per share.

Uber’s path this year hasn’t exactly been smooth — regulatory pressures, slowing mobility demand, and a tougher gig economy landscape have all been weighing on the stock. But Lederer & Associates clearly isn’t spooked.

Uber is no longer just about rides. It’s building out its food delivery, freight, and autonomous driving bets, aiming to dominate every corner of modern transportation. This stake increase shows the firm is betting Uber’s diversified strategy will pay off long-term, even if the road to get there is a bit bumpy.