Tesla reports disappointing earnings for second quarter as revenue rises 2%
Tesla reported weaker-than-expected earnings for the second quarter as automotive sales dropped for a second straight period. The stock slid more than 2% in extended trading. $TSLA Tesla Q2 FY24 by App Economy Insights: • Revenue +2% Y/Y to $25.5B ($0.8B beat). • Gross margin 18% (-0.2pp Y/Y). • Operating margin 6% (-3pp Y/Y). • Capex +10% Y/Y to $2.3B. • Free cash flow +34% Y/Y to $1.3B. • Non-GAAP EPS $0.52 ($0.10 miss).
$SPY The bull's first line of defense holds strong. 💪
Source: Trend Spider
Nvidia $NVDA coming in for its first test of the 50D moving average since early May
Source: Barchart
That was the highest weekly close in over 30 months for both Small-cap Growth and Small-cap Value
Source: J-C Parets
Nasdaq 100 QQQ ETF just hit the upper band of the long-term rising channel (monthly chart).
Is it due for a deeper correction now? Source: Trend Spider
THE Qs GET CRUSHED
$QQQ Worst one-week decline in over three months. Source: Trend Spider
BREAKING 🚨: Hedge Funds
Long/Short Hedge Funds suffered their worst day yesterday since the 4th quarter of 2022. Source: Barchart
⚡ The carnage is real.
Yesterday was Nasdaq 100 $QQQ worst day since December 2022. Source: Trend Spider
