Netflix seems like a warning sign to other overpriced stock. If 20 PE ratio is actually healthy Netflix hasn't even started to drop yet. Almost all other stocks are well above 70. According to CNN- TSLA earnings today is a catalyst for a turn too.
https://www.cnn.com/2022/04/20/investing/premarket-stocks-trading/index.html
“The electric carmaker's earnings are forecast to jump 142% from a year ago. Other traditional automakers, such as General Motors, Ford, Toyota and Volkswagen are all expected to report a drop in earnings due to supply chain problems and production issues.
Watch this space: Musk joined the call with analysts last quarter. Will he be on this time around?
If he isn't, that could feed Wall Street's worries that he's too busy trying to take Twitter private to deal with his management responsibilities. If Musk does dial in, there could still be risks, given his tendency to speak off the cuff.
Another point of focus will be lockdowns in China, which have affected Tesla's production in Shanghai. Credit Suisse analysts estimate that the recent shutdown there prevented the manufacture of 90,000 vehicles.
Shareholders will want to know if the plant can stay open given restrictions, and how suppliers of critical parts such as batteries are faring.
Investor insight: A lot is riding on Tesla's performance. Disappointing results could further disrupt a stock market that's already unsteady.”
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