TSLA earnings report result in a 7% drop in their premarket stock price
TSLA earnings report resulted in a 7% drop in their stock price. Taking advantage of this opportunity, some traders utilized automated trading robots to open short positions on the stock before the release of the financial statements.
Furthermore, it's worth noting the "Swing Trader Popular Stocks Market Neutral Strategy" robot on tickeron.com, which opened a short position on TSLA at $181.7 before the earnings report. Following the release of the financial statements, TSLA's stock price fell to $170, representing a 6.7% decrease.
Tesla's Q1 2023 earnings report has slightly missed revenue and profit expectations, causing the stock to slip after hours. The company reported Q1 revenue of $23.33 billion, which is slightly lower than Street estimates of $23.35 billion, but still represents a 24% increase from a year ago. However, the gross margin has dipped below 20% to 19.3% due to recent price cuts impacting profitability.
Tesla's adjusted net income for Q1 was $2.9 billion, less than the $3.03 billion estimated by the Street, and a billion less than last quarter and $700 million less than a year ago. The effects of margin compression could be at play here as revenue stays flat-ish and profit dips.
In a statement, the company mentioned that they implemented price reductions on many vehicle models across regions in the first quarter, but their operating margins reduced at a manageable rate. Tesla remains focused on operating leverage as they scale and expects ongoing cost reduction of their vehicles, including improved production efficiency at their newest factories and lower logistics costs.
Aroon Indicator for TSLA shows an upward move is likely
TSLA's Aroon Indicator triggered a bullish signal on September 12, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 327 similar instances where the Aroon Indicator showed a similar pattern. In of the 327 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
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