Time to Buy TSLA? Cathie did?
Are you ready to spring into action and snag some Tesla today?
If you have not already done so on Tue, 19 Mar 2024 trading session where there was a dip in early morning and slight correction before end of trading Tuesday? (see below)
US market’s 19/3/24 performance.
DJIA: +0.83% (+320.33 to 39,110.76). Best of 3 indexes.
S&P 500: +0.56% (+29.09 to 5,178.51).
Nasdaq: +0.39% (+63.34 to 16,166.79).
US market mounted a fair strong recovery after it's confirmed that interest rate remains status quo.
Fed chairman Jerome Powell hosted post FOMC conference on Wed, 20 Mar 2024 afternoon was the confidence booster.
Wait for an updated copy of “dot plot” is over:
- Kind of confirmed market's suspicion that the first interest cut could take place as early as June 2024.
- Confirmed maximum 3 nterest cuts have been planned in H2 2024?
CME Fedwatch tool is forecasting as such. (see below)
Tesla - why Now?
(1) YTD massive fall.
It has jumped +6.3% to $173.88 on Mon, 18 Mar 2024.
This comes hot on the heels of a -6.7% tumble the week before (Mar 11-15).
And -13.5% in the week before that (Mar 4-8).
As of 19 Mar 2024, Tesla has fallen -31.04% YTD.
(2) Model Y price increase.
On 16 Mar 2024, Reuters reported that Tesla will increase the price of its Model Y (in the US only) by $1000 from 01 Apr 2024 onwards.
This is an additional increase, following an increase effected on 01 Mar 2024.
On the surface, this is definitely a welcoming piece of news, given that Tesla’s margin has been falling consistently over the few quarters.
(3) Cathie Wood bought Tesla again.
On 14 Mar 2024, Cathie Wood‘s Ark Investment Management actively bought Tesla shares.
Ark purchased a total of 216,682 Tesla shares across three of its actively managed ETFs.
The purchase, valued at $35.21 million based on Tesla’s closing price of $162.50 per share.
Breakdown is as follows:
Ark Innovation ETF (ARKK): 161,956 shares
ARK Autonomous Technology & Robotics ETF (ARKQ): 18,543 shares
Ark Next Generation Internet ETF (ARKW): 36,183 shares
Is this a shot in the arm confidence booster ?
(4) Back into the limelight.
Irish poet and playwright — Oscar Wilde said that “There’s only one thing in the world worse than being talked about, and that is NOT being talked about.”
Mr musk understands this theory perfectly.
In recent days, he made headlines again when he decided to cancel ex-CNN talk host Don Lemon new talk show that was supposed to be hosted on X (formerly Twitter).
Have to give it to him to know when to pull the plug and draws attention (wanted and otherwise) unto himself.
- Do you think Tesla will recover lost grounds and propel higher?
- Do you think Tesla will mark up its Model Y in China, its largest customer base ?
If you find this post interesting, give it wings! ️ Repost and share the insights ?
Do consider “Follow me” and get firsthand read of my daily new post. Thank you.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Pls help to "Re-post". Tks! Rating is important (to me).
Would you consider "Follow me" and get first hand read of my Daily new posts? Thanks!). Tks!