Afternoon Note
Talk about lackluster, at least on the surface. The market is in stall mode as we begin a monster week of earnings with the biggest publicly traded companies in the world. The stakes are even higher, considering investors have mostly yawned during one of the best earnings quarters in history.
Despite that trepidation, utilities and consumer staples are the worst performing sectors. Investors are not seeking out shelter per-se.
It is very important for investors to comb through the numbers - which is what we are doing - rather than focus on knee-jerk reactions from the crowd.
That said Tesla is positioned to alter the narrative, but it might be a tough call.
Drumroll, Please
After the close Tesla (TSLA) will post its first quarter financial results and you can cut the anxiety with a knife.
The question for shareholders is, has the stock’s miraculous rally ran out of gas?
In addition to recent weakness, owning this stock into earning has been treacherous. Just look at the reaction to the last four earnings releases.
TSLA Earnings Reactions |
1-Day |
1-Week |
Jan 2021 |
-3.9% |
-1.7% |
Oct 2020 |
+1.1% |
-3.7% |
Jul 2020 |
-5.1% |
-5.9% |
Apr 2020 |
-2.2% |
-2.1% |
Let’s keep our powder dry.
Comments |
Amen Charles! Lorin K on 4/26/2021 5:12:54 PM |
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