Tesla Ends Higher, Neptune Insurance & Fermi Skyrocket

On this episode of Stock Movers:
- Tesla (TSLA)'s sales decline is expected to slow, offering investors a measure of relief amid a lengthy downturn at Elon Musk’s electric-car maker.The company likely delivered around 439,600 vehicles worldwide in the three months that ended in September, according to analysts’ estimates compiled by Bloomberg. Although that would amount to a roughly 5% drop from a year ago — and mark Tesla’s third straight quarterly decrease — it would be an improvement relative to the first half of 2025, when vehicle sales tumbled 13%.
- Neptune Insurance (NP), a flood insurer, saw shares jump over 24% after it's shareholders raised $368.4 million in a US initial public offering.Shares of the St. Petersburg, Florida-based firm closed at $24.80 each on Wednesday, versus an IPO price of $20 apiece. The offering of 18.4 million shares by backers including co-founder Jim Albert, Bregal Sagemount and FTV Capital was marketed in a range of $18 to $20 each.
- Fermi (FRMI) shares rose 55% in their debut after the energy real estate investment trust raised $682.5 million in its US listing, the latest sign of investors’ hunger for exposure to a boom in artificial intelligence. Shares of the company closed at $32.53 versus an IPO price of $21. Fermi sold 32.5 million shares after pricing them within a marketed range of $18 to $22. The trading gave the Amarillo, Texas-based REIT, which was co-founded by former US Secretary of Energy Rick Perry, a market value of about $19.3 billion based on the outstanding shares listed in its filings. The company’s shares debuted on the Nasdaq Global Select Market on Wednesday and are expected to begin trading on the London Stock Exchange on Thursday.

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