by winston » Sun Nov 03, 2024 8:26 am
not vested
The Magnificent Seven’s Fate After Election Day
by Eric Fry
Tesla Inc. (TSLA) was the first Mag 7 stock to report its earnings on October 22.
Tesla surprised the market for the third quarter of 2024, reporting earnings of $0.72 per share (up from $0.53 last year) and nearly $25.2 billion in revenue.
The company beat earnings expectations by 20% while slightly missing revenue projections, marking continued growth from the previous quarters.
However, I’ve turned bearish on the EV sector since the middle of this year. EV-related stocks have suffered from considerable sector-specific negatives, notably the sudden worldwide slowdown in EV sales growt.
Source: Smart Money
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