This story was originally published here.
For some investors, it’s all about earnings this week for Tesla (NASDAQ:TSLA). But for others, a nice cup holder on the price chart of TSLA stock is already suggesting it’s time for bulls to buckle up and buy shares today. Let me explain.
EV upstart Tesla is set to release its Q1 results after today’s close. Ahead of the report, Wall Street expects the company to report a loss of 18 cents. That would compare favorably to last year’s loss of $2.90 which absorbed some significant one-time charges.
TSLA sales are also forecast to jump year-over-year by $1.31 billion to $5.85 billion. But with record deliverables for Q1 already announced, Wedbush’s Dan Ives believes Wall Street’s focus will be on Tesla’s back half of 2020. The firm sees approximately 400,000 units as the new ‘bogey’ and down from 500,000.
To be sure there are a lot of moving parts when it comes to Tesla, and there’s always more too. Any update on China is important information. The country is the world’s largest EV market. And not terribly far off, next month’s already postponed Tesla Battery Day will rightfully have investors’ attention.
On Monday though, shares of Tesla jumped more than 10%. The trigger appears to have been a Bloomberg report released this past weekend indicating certain Tesla personnel were directed to report back to the company’s Fremont facility. The California plant had been shut down due to the novel coronavirus.
Alameda County health officials subsequently nixed the start date. But a second story out late Monday points at some production to resume on May 4. Despite the confusion and lack of visibility on Tesla’s business front, the price chart now finds bulls firmly in the driver’s seat.
Editor's Note: To keep reading and see why, click here. And look below for an even more urgent tech opportunity.
#1 5G Stock To Buy Now
There’s a lot of hype surrounding 5G these days…
And for good reason. It’s a breakthrough technology that’s going to change the world and make early investors a fortune.
But investing legend Louis Navellier says there’s only one 5G stock you should be paying attention to right now.
This is coming from the analyst who…
- Found Microsoft when it was trading for 39 cents.
- Cisco at 50 cents.
- Qualcomm at $2.45.
- Adobe at $1.91.
- Apple when the legendary software company was trading for $1.38.
- Amazon when it was just a $46 stock (today it’s over $1,885).
And MarketWatch said he was “the advisor who recommended Google before anyone else.”
Now Louis’s pounding the table on a 5G stock he recently uncovered.
He’s put together a presentation with the full details which you can view right here.