Trading Strategies For Tesla Stock Before And After Q3 Earnings
Portfolio Pulse from Melanie Schaffer
Tesla, Inc (NASDAQ:TSLA) is expected to report Q3 earnings with analysts estimating earnings per share of 73 cents on revenues of $24.38 billion. The company's stock is trading lower ahead of the earnings report. Two analysts have weighed in on Tesla stock with Piper Sander maintaining an Overweight rating and lowering the price target from $300 to $290, while Wedbush analyst Daniel Ives reiterated an Outperform rating and maintained a price target of $350. Investors looking for diversification may consider the AXS 2X Innovation ETF (NASDAQ:TARK), which aims to return 200% of the daily performance of ARK Innovation ETF (NYSE:ARKK), holding a 9.97% weighting of Tesla.
October 18, 2023 | 7:03 pm
News sentiment analysis
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NEGATIVE IMPACT
Tesla's stock is trading lower ahead of its Q3 earnings report. Analysts have mixed views with price targets ranging from $290 to $350.
The anticipation of Tesla's Q3 earnings report has led to a decrease in its stock price. The mixed views from analysts, with price targets ranging from $290 to $350, indicate uncertainty about the company's performance.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
ARK Innovation ETF (ARKK), which holds a 9.97% weighting of Tesla, could be impacted by Tesla's earnings report.
ARKK could be impacted by Tesla's earnings report due to its 9.97% weighting of Tesla. However, the impact may be mitigated by the diversification of the ETF.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The AXS 2X Innovation ETF (TARK), which aims to return 200% of the daily performance of ARK Innovation ETF (ARKK), could be a diversification option for investors. ARKK holds a 9.97% weighting of Tesla.
TARK could be impacted by Tesla's earnings report due to its aim to return 200% of the daily performance of ARKK, which holds a 9.97% weighting of Tesla. However, the impact may be mitigated by the diversification of the ETF.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50