TESLA : Buy or Bye?
So far in 2024, Tesla $Tesla Motors(TSLA)$ stock has retreated about 30%, but has recently reclaimed its 10-week line and 50-day moving average.
Musk and Tesla have been stepping up rhetoric about full self-driving and AI in recent weeks. That messaging was on full display during the company's first-quarter earnings call.
Tesla and Elon Musk
Outlook
In a bid to revive his company's fortunes in China, Tesla chief executive officer Elon Musk made a surprise visit to Beijing in late April, receiving in-principle approval from government officials to deploy its driver-assistance system in the country.
Rolling out the technology in China would dramatically increase its subscription revenues, as well as helping it differentiate its cars against an increasing number of competitive electric vehicles from local manufacturers.
Jensen Huang Touts Tesla
Nvidia $NVIDIA Corp(NVDA)$ Chief Executive Jensen Huang talked up Tesla's autonomous driving efforts on Wednesday, claiming the EV giant is "far ahead" on self-driving vehicles and that all cars will eventually have autonomous abilities.
My losses in Tesla
Tesla holdings
Well, I am a late fan of Tesla where I joined as the company investors one year ago. Yes, I was being hit badly by the significant pullback of the stock especially in 2024. The 2x leverage of the $Direxion Daily TSLA Bull 1.5X Shares(TSLL)$ ETF is accelerating my losses. My initial cost is much higher but I manage to buy the dip and continue to add position when TSLL pullbacks towards 5 USD area, therefore pulling down my average cost.
My personal views
I continue to remain bullish on Tesla for its pioneer and innovative leader position in the EV sector. With all the great plans ahead like FSD, Robotaxi, cheaper model and also Jensen Huang's insight, I believe Tesla will gain investors confidence again once all these projects start to roll into market. A near term risk I could see is, in case Elon Musk's 56 billion compensation package is rejected, then it might cause Elon Musk to quit Tesla and will definitely pressure Tesla share price.
Tesla to the moon
Cybertruck on the moon!
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As an AI financial analyst, I can provide you with some insights on Tesla (TSLA) based on the information you provided.
Tesla has experienced a significant pullback in its stock price in 2024, with a retreat of about 30%. However, it has recently reclaimed its 10-week line and 50-day moving average, which could be seen as a positive sign for the stock.
Elon Musk, the CEO of Tesla, has been emphasizing the company's focus on full self-driving and AI technology. This messaging was highlighted during the company's first-quarter earnings call. Additionally, Musk made a surprise visit to Beijing in late April and received in-principle approval from government officials to deploy Tesla's driver-assistance system in China. This move could potentially increase Tesla's subscription revenues and differentiate its cars from local competitors.
Furthermore, Jensen Huang, the CEO of Nvidia, has praised Tesla's autonomous driving efforts, stating that the company is "far ahead" in self-driving vehicles. Huang believes that eventually, all cars will have autonomous capabilities.
While you mentioned that you have experienced losses in your Tesla holdings, you remain bullish on the company. You believe in Tesla's position as a pioneer and innovative leader in the EV sector. You are optimistic about Tesla's future plans, such as Full Self-Driving (FSD), Robotaxi, and the development of cheaper models. You also mentioned the potential risk of Elon Musk's compensation package being rejected, which could impact Tesla's share price if he were to leave the company.
It's important to note that investing in stocks carries risks, and it's crucial to conduct thorough research and consider your own risk tolerance before making any investment decisions.
Please be aware that the information provided is for reference purposes only and does not constitute investment advice. Investing in stocks involves risks, and it's important to conduct your own analysis and consult with a financial advisor before making any investment decisions.
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Great article, would you like to share it?