Tesla's tax credit, Stitch Fix considers UK exit, Dave & Buster's Q1 results: Trending tickers

Tesla shares are trading higher after the Model 3 became eligible for the $7,500 U.S. tax credit, Stitch Fix stock rises after the company considers exiting the U.K., and Dave and Buster's reports record first quarter revenue. Yahoo Finance Live breaks down the market reaction.

Video transcript

JULIE HYMAN: Let's take a look at some of the top movers that we are watching today. Tesla shares pushing higher after news the Model 3 is now eligible for the full tax credit under President Biden's Inflation Reduction Act. It means battery components will need to be majority sourced domestically. How it achieves that could be the next focus for investors. And by the way, the shares are up now nine sessions in a row.

BRAD SMITH: Wow. We're also watching shares of Stitch Fix. The company saying it's considering exiting the UK in fiscal 2024, saying the macroeconomic environment has changed since coming into the market four years ago. Stitch Fix is also cutting back its distribution centers from five to three in new cost-cutting measures.

JULIE HYMAN: And Dave & Buster's also on the move after reporting record revenue for the first quarter, jumping 32% year over year. The chain did see same-store sales decline 4%. But the company's CEO said it's committed to long-term success by repurchasing-- or authorizing the repurchase of $200 million worth of common stock-- oh, it's done so far-- in fiscal 2023. The shares are up in today's session.