00:00Tesla Thursday. It's awesome. We've got some other stories too, but obviously that is the biggest story of the morning
00:06That's the biggest company that reported earnings yesterday. So let's go ahead and just give those numbers real quick. So
00:13You wouldn't know it by looking at the stock, but the sales actually missed the estimate
00:17So sales came in at twenty five point one eight billion missed the twenty five point three seven billion dollar estimate
00:24The EPS though beat 72 cents beat the 58 cent estimate
00:30And the stock went up initially on these numbers popped
00:33I think it was about eight nine percent and then the call started and Elon Musk started talking
00:39And Dennis I'll let you talk about that because I know you were listening more intently than I was
00:45I mean just looking at the earnings
00:47You know over quarter over quarter like the revenue actually went down slightly from last quarter
00:52I don't know if there was anything in the last quarter. That was kind of special that made the revenue higher than previous quarter
00:58But overall it is I mean anytime because Tesla had been in this zone where the earnings had been kind of declining
01:04And then actually to see it pop back up is I think like there was maybe a little bit of a lower bar
01:09And so to see those earnings pop back up. I think that's what people were really looking for
01:14You have summarized it pretty well. We had the big pop on the initial print to like 230
01:19I think everybody was expecting the worst even myself. I thought you know that this report wasn't gonna be great
01:24I hedged one-third of the position by selling the 220 calls. I'd done that a week earlier
01:30So I was actually that that would sell me out at 230 and a half because I got 1050 for him
01:36And then you know
01:38So we popped up like the 18 points up to 230 and then it sat there for a while was waiting call waiting for the call
01:44Then musk gets on and in typical musk fashion
01:47He talked this stock up like non-stop
01:51Everything he was saying was what the market wanted to hear he talked about growth of 25 to 30 percent
01:58That's huge. If he's gonna get that, you know expectations were maybe 12 to 13 percent
02:04So basically doubling, you know, he's talking about doubling that. Um, he talked about the robo-taxi, you know come in
02:10You know, he didn't give timelines we talked about 2 million units
02:14He's talking just you know
02:16Everything that the market wanted to hear and that's when the stock started blasting off again
02:21235 236 240 if you bring up test the stock Joe
02:25You'll see, you know the consolidation around 230 and then the musk chatter, which is the next big bar up
02:30So if you're looking at the big bar up on earnings
02:32Then he sat there for an hour and then the next big pop was the musk conference call
02:36So which popped up too and when he said the robo-taxi thing
02:40Then uber and left start getting hit because you know, you're talking 2 million robo-taxis and then uber, you know goes from 79 a3
02:47It's down two and a half bucks here. Now left getting hit down 2.7 percent
02:53Obviously off of this so very interesting. I mean
02:57The one you know, the jury is still out. It's not like wow the quarter with the quarter was good
03:04The talk the talk was incredible
03:07But the problem with musk is he's one of those opposite CEOs where there's so many CEOs that come out and they under promise and over
03:14Deliver musk is always an over-promiser. Let's hope he doesn't under deliver here though
03:19Cuz that's 25 or 30 percent number the stock pops six seven dollars when he started talking about that. That's a big number
03:26I hope that they can hit that but I don't know man. That's a big number, but I'm happy. It's nice
03:32It's nice like my long-term accounts probably gonna hit all-time highs because I'm huge position in Tesla
03:38So I'm happy about it. But at the same time, I'm still skeptical because I'm like wow
03:43This is a big pop really fast, you know
03:45And then the other consideration because I did a third of the position so I'm some written calls
03:49Do I covered those in you know to continue the party or do I let part of the position go at 2 30?
03:55I would be out. Maybe I haven't fully decided. I have a couple days. They obviously go off the board tomorrow
04:00So I'll decide if I'm gonna roll it up or figure out what I'm gonna do here on those Tesla calls
04:05All right, um a couple things here
04:09one eyeball test
04:10I mean just there's more out there. I mean just flat out there. There's more Tesla cars
04:18But also they're there. Yeah, I mean you're seeing them
04:22The the building actually on Orchard Lake Dennis, they're putting in a dealership a pretty good sized dealership
04:28So that's a note
04:30The other thing I'm gonna say, oh, so it's a car company now
04:34Right. It's a current now. It's a car company. I thought it was a technology company. I don't
04:40Well, no because everyone says it, you know, it's not a car company
04:44It's a technology company, right and that it's the future technology
04:49that's why a lot of the reason you own it is because of the of you know, the the
04:55The robbers well the FSD everything. Yeah
04:59There too. I mean robo taxis is not cars. It's a taxi business
05:04So right, right, I think I think the ship has sailed on this conversation
05:10The Tesla is just a car company. I think the I was being a little facetious, but I didn't catch that. I don't catch
05:17That was getting it's getting a nice lift here
05:20And I will just say I got I got one number for you and it's right before it fell off the cliff
05:28for
05:29242.79
05:31That was your high back on robo the day of the event
05:36Everyone that bought it you're filling the gap you're getting your money back
05:40So right there that was a high that day
05:43Or the day before the gap so I'd keep an eye on that then there's a little congestion above it, but good report
05:49Streets, loving it. I don't what was the expected move? Do you know Dennis?
05:54Thank you was we talked I think was $14. So you're well over the
06:01Double double the expected move. Yeah, so it's a huge move people who are right and straddles are getting hit
06:07I mean the stock continues to climb here too. Like the stock is climbing, you know dramatically here. So
06:16Again
06:18What's the catalyst to bring it back down now, I mean he's talked this up
06:22Here's your analyst commentary here from today because the analysts are scrambling because half of them are bearish out there
06:27Um, you got wet bush reiterating their perform wet bush has been bullish the whole time
06:31They've had that right Piper's reiterating. They're out overweight. They've been bullish, but then he got you know
06:36RBC is raising their price target to 249 trying to get up to where it is right now
06:40Trying to get up to where it is right now price target can accord race 278 Baird reiterates their upper form
06:46Mizzou reiterates their neutral Goldman Sachs raises their price target to 250 because they were lower
06:51They're trying to get up to where it is right now. KGI security is actually upgrade stock
06:55So to Tesla to outperform you can or Fitzgerald they're raising the price target
07:02Truist is still skeptical. They said more questions than answers. Where is the beef?
07:06They are an outlier here because there's nobody else Jeffries and Wells Fargo both are just ridiculous
07:12Jeffries raises their price target to 195 the stocks 243 Wells Fargo raises their price target a
07:19125
07:23120 so what's the analyst even comment?
07:25So Colin Langan from Wells Fargo has a sell rating on the stock underweight rating with a 120 price target
07:33They raise their price target to 125. So all this and they raise it up. I mean why even bother why even bother?
07:39The only way it goes back to 125 is FFF SD fails like it doesn't work and it kills us all
07:46I mean, that's what the scenario where that happens or or Musk shoots off his mouth and nobody ever buys a Tesla
07:52Can I so there's a couple scenarios where that can happen?
07:54I don't understand why the price target but you've got you know, you obviously have 14 sell ratings on this talk
07:59We've talked about this before we asked Brent stir the old, you know, I'm from the news desk. We were talking to him
08:05Just in saying how often do you see 14 sell ratings on something? He covered the benzinga pro news desk for a decade
08:12I'm like, he's like it's unprecedented. I've never seen it before a company with 14 sell ratings on it
08:18So this is how bearish the street is on this stock. There's a few balls, you know when we give them wet bush
08:23You know, there's a few balls out there Dan Ives been all over the story, you know
08:27And he thinks this is the most he's he said it before he said this is the most undervalued tech stock out here
08:32Underappreciated and undervalued AI play so there is some bulls out here. I've been bullish too, you know
08:37I'm one of the big bulls too, but you know, there's a lot more people than just Gordon Johnson bearish this stuff. I agree
08:43I agree
Comments