A luxury electric vehicle maker set a new Guinness World Record after one of its cars traveled 749 miles on a single charge, beating out last month’s record set by a Mercedes-Benz that traveled 649 miles. Who is the new world record holder?

Check your answer.

The S&P 500 was modestly lower and the Nasdaq 100 marginally higher on Tuesday, while small caps made back some of Monday’s big losses with a 0.7% gain. The difference between the high and low price for the S&P 500 relative to Monday’s close was just 0.4%, the smallest range since Valentine’s Day and the second-narrowest of the year so far.

CoreWeave, which provides GPU cloud services to AI developers, is buying Core Scientific, which handles the nitty-gritty of those data centers, in a deal valued approximately at $9 billion. 

The “approximately” is actually rather important here, as there’s a bit of a funny situation developing with the companies’ respective valuations following the announcement of the tie-up, which presents some intriguing arbitrage opportunities. 

The issue, though? The borrow rate is reportedly well over 100% annualized, with anecdotal reports of 300%. Per Bloomberg, CoreWeave’s “float” (or freely traded shares) amounts to only ~13% of its shares outstanding. Once you account for that, any “free money” lying around disappears.

The devil is always in the details. In sum, Core Scientific’s management hitched their wagon to CoreWeave to trade at a premium; put themselves in a position for downward pressure on the company’s stock, possibly lowering the ultimate value they’ll get for selling; and left seemingly no practical way for shareholders or potential shareholders to arb this away for a while. 

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So far, President Trump’s tariffs have spared the pharmaceutical industry, but the threat remains. Just yesterday, Trump raised the possibility of an eye-popping 200% tariff on imported drugs “very soon,” a figure that would put many patients at risk of not being able to afford critical medications. Of course, Trump also said the companies would have “a year, year and a half” before those tariffs would go into effect.

In any case, it appears Eli Lilly isn’t taking any chances with its top revenue driver:

It’s not the only pharma company that’s been front-running tariffs, but it’s certainly among the biggest, with $42.3 billion of its GLP-1s imported through May alone. While the race is certainly still on to create the next blockbuster weight-loss drug, Lilly is sticking with its hit medications.

Shortages of weight-loss meds may not seem like the most pressing issue, but for the big players, they’re huge profit drivers that have also shown promise in areas like treating addiction and sleep apnea, among others. Additionally, Eli Lilly and Novo Nordisk, the maker of Ozempic, also want to avoid their popular meds falling back into the “shortage” categorization that allowed companies like Hims & Hers to sell copycat drugs. That not only ate into profits but also turned into a messy public breakup for some involved.

Grindr has decided to build a side hustle selling pills — very specific pills that appeal particularly to their audience. The clue of what it’s selling comes from the new name of its telehealth brand: Woodwork. And unlike the first ads of the ’90s, which used a former GOP presidential candidate to promote a little blue pill, Grindr’s ads are not afraid to lean into lumberjack-coded models holding logs in suggestive places.

See the ad-volution.