To The Moon

Of the 4 mega cap companies that reported their quarterly earnings, none was really outstanding: $Goldman Sachs(GS)$. Missed on all accounts.. $Netflix(NFLX)$. Missed expectations & Wall street ignored its achievements. $ASML Holding NV(ASML)$. Exceeded forecasts but CEO warned of macroeconomic uncertainties. $Tesla Motors(TSLA)$. Mixed results if you asked me. Despite the mixed results, market was hell-bent to rally for another day. DJIA: +0.31% (+109.28 to 35,061.21). Its 8th consecutive rally day. S&P 500: +0.24% (+10.74 to 4,565.72). Nasdaq: +0.03% (+4.38 to 14,358.02). Tesla reported its Q2 2023 earnings after market close; followed up with a press conference. As mentioned in my previous posts, its earnings more than meet forecast: Revenue: $24.93 Billion vs $24.47 Billion expected, according to Refinitiv. Earnings: 91 cents per share adjusted, vs 82 cents per share expected, as per Refinitiv. Net income (GAAP) was $2.70 Billion, an increase of +20% YoY. Operating income: came in at $2.4 Billion, off by -3% YoY. If you scratched the surface, all will be revealed: Tesla delivered 466,000 EVs, a whooping +82.96% gain YoY. Q2 2023 revenue over Q2 2022 revenue is +47.25% gain YoY. Looking at the 2 data fields reveals the extent of damages as a result of Tesla’s cut throat discounts. This made Wall Street nervous and post market trading saw Tesla’s stock price decline by -4%. What makes it worse is “discount is still on-going”. Mr musk has just confirmed that during the press conference; much to Wall Street’s chagrin (see below). The first negative reaction has arrived (see above). It is from Mr Craig Irwin, Roth Capital Partners He is known to be a “Tesla bear”. Question now is “will there be more negative press to follow”, snowballing and become a self-fulfilling prophecy? Do you think Tesla stock price will free fall today? Do you think US market will continue to rally or fall as well? Please give a “LIKe”, “Share” & “Re-post” ok. Thanks. Rating is very important (to me). Would you consider “Follow me” to get firsthand read of my daily new posts? Thanks! @Daily_Discussion @TigerPM @TigerStars @Tiger_SG @TigerEvents