During the holiday season, the stock market activity tends to ramp up with higher trading volumes. Ahead of festivities, consumers spend more, which leads to atypical pre-holiday stock gains., the December effect, also known as the Santa Claus Rally, historically shows 1.3% greater S&P 500 gains on average seven days following Christmas. Aware of the trend, fund managers tip it up to excite investors and make the case for the fund’s management fees.
Nonetheless, Tesla’s Q3 delivery figures showed 6.4% year-over-year growth to 462,890 EVs. Promotions in China contributed, on top of Jiangsu provincial government approving Model Y for official use in July. Long-term, Tesla has built a formidable supply chain infrastructure for both transformational robotaxis and its energy storage division.
Prior to the Q3 earnings report, in June, UBS Global Research raised BBY price target from $85 to $106 per share. Best Buy stock is currently priced at $96.80 vs the 52-week average of $80.13. Ahead of the holiday season, there is still room for BBY’s valuation growth. This led to $42 million net loss for the quarter, which is $4 million better than the $46 million net loss in the year-ago quarter. Nonetheless, with Trump’s announced tariffs on Chinese imports, on top of existing ones implemented by the Biden admin, Wayfair could benefit. This would undermine direct competitors like Temu, under the umbrella of PDD Holdings.
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