Tesla: Shares Divorced From Fundamentals
The “Magnificent 7,” the stock market darlings of 2024, lost its steam in recent weeks, driven by market rotation for less-loved areas on September Fed rate cut bets and weak results from Tesla (TSLA). Alphabet (GOOGL) also failed to cheer investors despite surpassing earnings and revenue estimates.
NEW YORK, NY / ACCESSWIRE / July 29, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Tesla, Inc. ("Tesla") (NASDAQ:TSLA) concerning possible violations of federal securities laws. On July 23, 2024, after the market closed, Tesla announced its Q2 2024 results, reporting lower earnings-per-share ("EPS") and operating income than anticipated.
Tesla, Inc.'s Q2 2024 earnings report showed a mix of positives and negatives, with revenue beating estimates but EPS missing consensus. The EV giant is exhibiting tepid growth and margin pressures, but its Energy and Services segments showed strength in Q2. That said, near-term financial performance is simply noise, as Tesla is a binary bet on autonomy (FSD and Optimus)!
Tesla says self-driving taxis will power its growth, but the company hasn't said when such a service would be ready or how much it would increase profits.
Zacks.com users have recently been watching Tesla (TSLA) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
NEW YORK, NY / ACCESSWIRE / July 29, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Tesla, Inc. ("Tesla" or "the Company") (NASDAQ:TSLA). Investors who purchased Tesla securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/TSLA.
Here's everything you need to know about the electric vehicle maker's week.
Truist analyst William Stein tested out Tesla's Full Self-Driving product. He thinks it might be getting worse, but he's testing an older version of the software.
Tesla is Morgan Stanley's "top pick" in the U.S. auto space. But Adam Jonas cautioned that near-term robotaxi expectations could be too high.
After driving investor enthusiasm up by announcing a Tesla (NASDAQ: TSLA) ‘Robotaxi' event for August 8 – and then disappointing with a delay to October – Elon Musk once again took to X to say that the electric vehicle (EV) maker will start ‘low production' for commercial purposes of the ‘Optimus' humanoid robot in 2025.
Shares of Tesla Inc. were in rally mode Monday, as the electric-vehicle giant's stock chart was set to produce its first bullish moving-average crossover signal in over a year.