didn’t look good at all. The revenue dropped 9% - the first revenue drop in four years - and net income plunged by 55% compared to the same time last year. And these numbers were not only bad, but they were also worse than the expectations for the 3rd straight month.
Yet investors looked past the ugly quarterly results from Tesla and sent the stock price 13% higher in the afterhours trading – yes there is no mistake, Tesla jumped 13% after announcing a revenue and earnings miss, as investors focused on plans to accelerate the launch of new models that include cheaper models. The post-earnings jump could be a flash in the pan given rising challenges the company faces.
In commodities, US crude jumped to $84pb as yesterday’s API report printed a 3-mio-barrel decline in weekly inventories, while gold rebounded after tipping a toe below the $2300 per ounce, in a move that’s reportedly caused by margin calls.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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