Market participants showed their disappointment with last Tuesday's results from two of ‘The Magnificent 7' stocks: Google parent Alphabet GOOGL and Tesla TSLA.
Amazon (AMZN) reports earnings after the bell Thursday, with investors watching the results after a tech-industry selloff dragged heavyweights like the Magnificent Seven lower this week after earnings from Google parent Alphabet (GOOGL) and Tesla (TSLA) disappointed.
NEW YORK, NY / ACCESSWIRE / July 26, 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.
Despite a sharp sell-off, Tesla, Inc. is still up 50% from the April lows, indicating a potential bottom in revenue, margins, and stock price. CEO Elon Musk's AI dream for Tesla, including FSD/robotaxi initiative and Optimus, could lead to significant growth potential, with a $5 trillion market cap projection. While Musk may be overly optimistic, we can now at least buy into his Ai dream with a margin of safety.
NEW YORK, NY / ACCESSWIRE / July 26, 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. TSLA has been in the spotlight recently, and not just because of its futuristic cars or CEO Elon Musk‘s tweets.
NEW YORK, NY / ACCESSWIRE / July 26, 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.
Tesla stock dropped 10% after the recent earnings report.
My June 2024 “Buy” call on Tesla, Inc. has been one of my most successful calls, given the time elapsed since the rating was initiated. But now it deserves a downgrade. Recent events prompt a downgrade due to poor Q2 results, uncertainties in the xAI project, and the delayed robotaxi event as a potential bullish catalyst. Delays in the development of a robotaxi product may signal progress but also highlight the long and challenging path ahead in commercialization.
Tesla stock has dropped since reporting second-quarter earnings late on Tuesday.
Tesla's stock price fell by more than 10% following what I thought was a good quarterly earnings release.
Auto stocks across the board have sold off recently. We saw poorly received quarterly earnings releases from not just Tesla (NASDAQ: TSLA ), but Ford (NYSE: F ) and General Motors (NYSE: GM ) as well.