It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
Tesla Posts Record Earnings, What’s Next?
2021-09-28 • Updated
Tesla surprised the markets again with record earnings. The positive report keeps the momentum for a better-than-expected earnings season in the US. Tesla's Q2 EPS came in at $1.45 vs. 97C estimated. Revenues also showed another surprise with $11.96B vs. $11.36B estimated. The biggest surprise came in from the Free Cash Flow which posted $619M vs. a deficit of $319M. The company still sees 50% average annual growth in deliveries, while the biggest challenge ahead remains in the supply of microchips.
Overall, Tesla’s earnings represent a new positive factor despite all the challenges of the Covid19 era and it looks like the company has entered a new phase or possible sustainable profits in the coming years.
TSLA soared to $695 after hours and trimmed it back to $664. The conference call also was balanced with no hiccups from Elon Musk. With that being said, dips are for buyers this week, and expecting the stock to retest $750 in the coming weeks could be reasonable.
Are you searching for trade opportunities for December 6-10? Here you go!
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