To The Moon

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$Tesla Motors(TSLA)$ stock price have wiped out nearly -20% of its value in less than 2 weeks, amid growing concerns that demand for electric cars is starting to weaken, globally. (see below) The selloff started in mid-October 2023, when Tesla dialed back growth expectations during its Q3 2023 earnings conference. Next to follow were “grim” commentaries from a few global automakers, as well as Wall Street analysts. On Mon, 30 Oct 2023, battery-maker $Panasonic Holdings Corporation(PCRFY)$ and chipmaker $ON Semiconductor(ON)$, both also sounded alarms for the EV industry. The waves of “negative” news could not have been more “timely”, with the US automotive sector

The market predicted that the Federal Reserve tightening cycle was nearing the end, the US Treasury interest rate fell, the market generally reacted positively to corporate earnings, Tesla surged 6.25%, and the high Treasury forecast led semiconductor stocks to strengthen.The S&P 500 posted its first consecutive gain of more than 1 percent since February. The Nasdaq closed up 2.36 percent, its best performance since July.Adjusted U.S. claims for unemployment benefits came in at 217,000 for the week ended Oct. 28, higher than market expectations of 210,000. Data showing easing inflation and a slowing labor market bolstered investor confidence that the Federal Reserve may not raise interest rates again. Bond yields fell. The yield on the 10-year Treasury note fell about 12 basis points t

As a new trading week draws upon us, I guess the question on everyone’s mind — will US market fare better this week? Factors that caused market to tumble, I think were: Tesla’s Q3 2023 earnings report. US weekly jobless claims. Consumer Board - leading economic index (LEI). Jerome Powell’s discussion at the Economic Club. (1) Tesla - Q3 2023 earnings report. For the first time since Q2 2019, $Tesla Motors(TSLA)$ failed to meet both Earnings & Revenue. Earnings: $0.66 per share adjusted vs $0.74 cents per share expected. Revenue: $23.35 billion per share vs $24.1 billion expected. All this despite massive discounts extended to all its EVs. The “real” kill joy was mr musk’s confession during earnings call that the 5 years overdue Cybertruc