Wall Street lost all its sheen in February on fears that the Fed will keep raising rates longer than expected. Still, a few corners of the stock market are outperforming.
Wall Street delivered a mixed performance last week. Mixed tech earnings and a 25-bp Fed rate hike were the key highlights.
Wall Street was modestly upbeat last week. The release of fourth-quarter U.S. GDP data and better-than-expected Consumer Sentiment and some Home Sales data led to the upbeat stock market.
Tesla Motors reported record-breaking Q4 results, wherein it beat both earnings and revenue estimates.
Over the past three months, the stock shed about 32% compared to the industry's average loss of 16%. The weak trend will reverse only if the carmaker beats on earnings estimate.
Tesla Motors reported record deliveries for the fourth quarter but fell short of the analysts estimates due to logistics problems, slowing demand, rising interest rates and fears of recession.
Shares of Tesla dropped 6.6% to a 52-week low on the Oct 20 trading session following revenue miss.
Tesla has shed about 9% over the past three months but outperformed the industry???s average loss of 15%. The outperformance is expected to continue if the carmaker beats on earnings estimate.
Tesla Motors (TSLA) reported record deliveries for the third quarter, signaling another strong earnings report later this month. However, it fell short of the Wall Street analysts' estimates.
Tesla delivered 343,830 electric vehicles in the third quarter, missing analysts' expectations.