- GRIT
- Posts
- Tesla Charges Ahead
Good Morning!
Happy Wednesday! Let’s see what is moving markets:
👉 Tesla missed earnings
👉 Senate votes on TikTok
👉Boeing earnings are in
🚨 Announcement! 🚨
Did you hear? We are dropping a NEW email course!
Discover the keys to diversified investing with our dynamic email course designed for all investors seeking to broaden their portfolio horizons. While the tech sector continues to thrive (up 114% in the last five years as of April 10, 2024), our course offers a refreshing shift in focus, guiding you through the intricacies of investing across various stock market sectors.
📥 Get ready to enroll!
TESLA: Missed Earnings
Despite being a top electric vehicle maker in the U.S., Tesla's financial results have been lackluster for several quarters. Adjusted earnings per share dropped to 45 cents in the first quarter, missing analysts' expectations of 52 cents per share. Revenue fell nearly 9% to $21.3 billion, which was below the anticipated $22.3 billion. Tesla shares rebounded after Elon Musk promised cheaper vehicles by year-end, alleviating concerns about the company's recent poor earnings and growth slowdown. Tesla shares were up 11% as of 7:45 a.m. on Wednesday.
Source: Investopedia
Musk hinted at future plans for a new robotaxi model, set to be unveiled in August, which will incorporate features from both current and upcoming vehicle platforms. He also criticized other automakers for cutting back on electric vehicles in favor of hybrids.
🎯 GRIT TAKE: Tesla has faced multiple problems…upgrade to VIP now to read the full GRIT Take!
CONGRESS: Swipes Left
The U.S. Senate has voted to prohibit TikTok's ownership by its Chinese parent company, ByteDance, potentially setting up a legal showdown over free speech rights. The legislation, which also provides aid to Ukraine, Israel, and Taiwan, passed with bipartisan support amid concerns over data privacy and potential Chinese propaganda. President Joe Biden is expected to sign it into law.
Source: WSJ
The bill allows nearly a year for ByteDance to divest from TikTok before facing a ban. TikTok's significant growth in the U.S. market is tied closely to various sectors of the economy, from content creators to small businesses.
EARNINGS: Boeing
On Wednesday, Boeing reported a smaller loss and less cash burn than expected, signaling progress in stabilizing its supply chain during the ongoing 737 Max crisis. The company spent $3.9 billion in the first quarter, less than the anticipated $4.5 billion. CEO Dave Calhoun, who plans to step down by year-end, noted the challenges in a note to employees.
Source: CNBC
The Federal Aviation Administration has restricted Boeing from boosting production due to safety issues and noncompliance in its supply chain. Consequently, Boeing has reduced its production rate and deliveries have slowed significantly. Revenue in Boeing’s main commercial airplane division fell 31% to $4.65 billion compared to last year, but the company’s losses improved slightly to $355 million, or 56 cents per share. Adjusted losses were $388 million, or $1.13 per share. Revenue dropped 8% to $16.57 million, slightly better than expected.
Headlines You Need To Know: 🎙
Airlines must now pay automatic refunds for cancelled flights
Footlocker debuts store of the future
How drones are revolutionizing the economics of war
Crude oil pulls back below $83
Microsoft, Amazon AI partnership faces regulatory scrutiny
Chart of the Day
📊 The Tesla Ecosystem
Source: Tesla
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
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss, however arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy, State Disclosure Policy, and Disclaimer Policy
If you have any questions please contact us at info@gritcap.io
Reply