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Good Morning!
Happy Wednesday! Have a great market holiday:
👉Tesla delivery numbers
👉New FDA drug approved
BREAKING: Private payrolls grew by just 150,000 in June, less than expected
NOTE: The market closes at 1:00 on Wednesday and closed on Thursday
TESLA: Delivery Numbers
Tesla shares surged 10% on Tuesday after the company reported second-quarter vehicle production and deliveries that exceeded analyst expectations. Analysts had predicted deliveries to reach 439,000, but Tesla's total deliveries fell 4.8% from 466,140 a year earlier and rose 14.8% from the first quarter.
Source: Investopedia
Deliveries are Tesla's closest measure of sales, categorized into Model 3/Y and other vehicles. Tesla’s lineup includes the Model Y, Model 3, Cybertruck, Model X, and Model S.
By The Numbers:
Total deliveries Q2 2024: 443,956 vehicles
Total production Q2 2024: 410,831 vehicles
🎯 GRIT TAKE: Tesla beat expectations but struggled …upgrade to VIP now to read the full GRIT Take!
ALZHEIMER: Drug Approved
The FDA has approved Eli Lilly's Alzheimer’s drug donanemab for adults with early Alzheimer’s. Nearly 7 million Americans have Alzheimer’s, the fifth-leading cause of death for adults over 65. This number is expected to double by 2050 nearly.
Source: Fortune
This approval is a win for Eli Lilly after previous setbacks. Donanemab will compete with Biogen and Eisai’s treatment, Leqembi. Both drugs, targeting amyloid plaques, slow Alzheimer’s progression in early stages. Donanemab slowed progression by 35% over 18 months in trials. It costs $12,522 for six months, $32,000 for 12 months, and $48,696 for 18 months, with Medicare coverage available.
Chart of the Day
📊Returns By President
Source: Carbon Finance
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
Source: @wallstreetoasis
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