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Data: Money.net; Chart: Naema Ahmed/Axios

Two of the most important companies on the energy beat are having very different weeks.

The big picture: Tesla's shares went bananas again Tuesday, spending much of the day well above $900 before falling at the trading close and continuing its fall early Wednesday. Meanwhile, Exxon's stock has been on a downward trajectory all year that picked up speed with Friday's disappointing earnings report — eventually reaching a decade-low.

  • Tesla's market valuation is now $160 billion, despite being barely profitable.
  • While the volatile electric automaker has emerged from near crises in recent years and turned a profit the last two quarters, it's hard to say why its stock has basically doubled in price in 2020 and shot up so fast the last few days.
  • "No amount of product announcements, analyst upgrades or bullish investor predictions can satisfactorily explain this sort of meteoric rise. Nor the plummet into market close," Axios' Dan Primack wrote yesterday.

The other side: One reason why Exxon's declines continued this week, per multiple reports, seems to be a gloomy Goldman Sachs assessment.

  • It "downgraded the stock to a sell rating Monday, saying 'more compelling returns opportunities exist both among the global majors and global large cap stocks outside of energy,'" CNBC reports.

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Schumer and Pelosi. Photo: Alex Wong/Getty Images

House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Chuck Schumer sent a letter to Postmaster General Louis DeJoy on Thursday calling for the recent Trump appointee to reverse operational changes to the U.S. Postal Service that "threaten the timely delivery of mail" ahead of the 2020 election.

Why it matters: U.S. mail and election infrastructure are facing a test like no other this November, with a record-breaking number of mail-in ballots expected as Americans attempt to vote in the midst of a pandemic.

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Photo illustration: Aïda Amer/Axios. Photos: Brian Ach/Getty Images for Wired and BSIP/UIG via Getty Images

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Why it matters: Testing shortages and backlogs underscore a need for improved mass testing for COVID-19. Diagnostic tests based on CRISPR — which Doudna and colleagues identified in 2012, ushering in the "CRISPR revolution" in genome editing — are being developed for dengue, Zika and other diseases, but a global pandemic is a proving ground for these tools that hold promise for speed and lower costs.

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Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 5 p.m. ET: 18,912,947 — Total deaths: 710,318— Total recoveries — 11,403,473Map.
  2. U.S.: Total confirmed cases as of 5 p.m. ET: 4,867,916 — Total deaths: 159,841 — Total recoveries: 1,577,851 — Total tests: 58,920,975Map.
  3. Politics: Pelosi rips GOP over stimulus negotiations: "Perhaps you mistook them for somebody who gives a damn" — Ohio Gov. Mike DeWine tests positive.
  4. Public health: Majority of Americans say states reopened too quicklyFauci says task force will examine aerosolized spread.
  5. Business: The health care sector imploded in Q2More farmers are declaring bankruptcyJuly's jobs report could be an inflection point for the recovery.
  6. Sports: Where college football's biggest conferences stand on playing.