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Electric vehicle stocks fell in the week ending Oct. 21, with Tesla's disappointing Q3 earnings and revenue miss leading the downturn. Tesla's auto margin was below consensus estimates, and CEO Elon Musk's comments on the earnings call were not well received by investors. Rivian CEO R.J. Scaringe allayed liquidity concerns, stating that the company's recent $1.5 billion convertible green note offering was meant to create an additional buffer. Lucid Group's Q3 deliveries were below consensus estimates. Faraday Future shares gained after the company raised non-dilutive capital. Toyota confirmed it will adopt Tesla’s North American Charging Standard for its battery EVs from 2025.

Portfolio Pulse from Shanthi Rexaline

October 21, 2023 | 2:45 pm

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The relative value of small-cap stocks compared to large-cap stocks is at its lowest point in over two decades. The price ratio between the iShares Russell 2000 ETF (IWM) and the SPDR S&P 500 ETF Trust (SPY) has decreased by more than a third in the last year and a half. George Bonne, an equity research analyst at MSCI Inc., noted that small-cap stocks have started to display lower forward P/E ratios compared to large-cap stocks. However, the valuation gap may further widen due to high interest rates.

Portfolio Pulse from Piero Cingari

October 21, 2023 | 1:29 pm

ORIC

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) announced initial data from the ongoing ORIC-114 Phase 1 dose escalation trial for patients with EGFR or HER2 exon 20 mutated non-small cell lung cancer. The data shows CNS activity at multiple dose levels, systemic responses in heavily pre-treated NSCLC patients, and a favorable safety profile. The company believes this demonstrates a potential best-in-class profile for ORIC-114.

Portfolio Pulse from Charles Gross

October 21, 2023 | 1:28 pm

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The major indexes fell last week due to the Israel-Hamas conflict and concerns about rising interest rates. The Fed's Jerome Powell emphasized the importance of a measured approach based on economic indicators. U.S. retail sales saw their sixth consecutive month of growth. Ark Invest CEO Cathie Wood believes Tesla has more upside in the AI sector over the next five years compared to Nvidia. Wedbush analyst Scott Devitt has a positive outlook on Amazon, emphasizing potential catalysts like increasing retail margins and accelerated AWS growth. There is heightened anticipation within the crypto community for the approval of a spot Bitcoin ETF. Tesla CEO Elon Musk anticipates significant hurdles in scaling up Cybertruck production. Tilray Brands CEO Irwin Simon calls for clarity in the U.S. cannabis industry's regulatory confusion. Bank of America CEO Brian Moynihan observes a deceleration of consumer spending due to rising interest rates.

Portfolio Pulse from Michael Cohen

October 21, 2023 | 1:14 pm

TSLA

Tesla Inc's shares dropped significantly this week, leading to a $30 billion decrease in CEO Elon Musk's net worth. The drop was due to a weak economic outlook from the company's recent earnings call and a miss on the third-quarter revenue estimates. Tesla's shares fell 15.2% this week to $211.99.

Portfolio Pulse from Anan Ashraf

October 21, 2023 | 11:00 am

BTCUSD

Robert Kiyosaki, author of 'Rich Dad Poor Dad', predicts that Bitcoin (BTC) will surge to $135,000. He also forecasts that Gold will reach a value of $3,700. His predictions have sparked discussions within the cryptocurrency community, with some experts drawing parallels to Standard Chartered Bank's forecasts for Bitcoin's future. Bitcoin recently surpassed the $30,000 threshold for the first time since August 2023.

Portfolio Pulse from Ananya Gairola

October 21, 2023 | 5:52 am

TSLA

Tesla Inc (NASDAQ:TSLA) has reached the milestone of 1 million vehicles delivered in Europe, despite a 10% slump in new car registrations in September. The company's market share dropped to 2.8% last month. This comes amidst an overall surge in EU battery electric car registrations by 14.3%. Other automakers such as Volkswagen, Stellantis NV, and Renault Group saw a significant increase in new car registrations in September, while Ford Motor Co, Mitsubishi, and Tesla witnessed a drop.

Portfolio Pulse from Anan Ashraf

October 21, 2023 | 5:41 am

TSLA

Tesla Inc's CEO, Elon Musk, laughed off comments by Sanford C. Bernstein analyst Toni Sacconaghi, who stated that Tesla is increasingly looking like a regular auto company. Sacconaghi has an 'underperform' rating on Tesla with a price target of $150.

Portfolio Pulse from Anan Ashraf

October 21, 2023 | 4:16 am

AAPL

Apple Inc. (NASDAQ:AAPL) has seen a 4.5% decline in iPhone 15 sales in China in the first 17 days compared to its predecessor. This follows China's decision to widen restrictions on the use of iPhones by state employees. However, China's vice premier, Ding Duexiang, has expressed willingness to provide Apple with more opportunities as competition with Huawei Technologies intensifies. Apple CEO Tim Cook recently made a surprise visit to Beijing, where he was welcomed to participate in advancing China's digital economy.

Portfolio Pulse from Ananya Gairola

October 21, 2023 | 2:16 am

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Billionaire investor Leon Cooperman predicts that the S&P 500 will not surpass its current record of about 4,800 points for some time due to overpriced stocks. He also anticipates a downturn in the housing market due to the affordability crisis. Cooperman attributes these issues to years of near-zero interest rates and rampant government spending. He also noted that a bear market has already affected most stocks, with only a few Big Tech companies like Tesla, Nvidia, and Microsoft driving major indexes higher.

Portfolio Pulse from Benzinga Neuro

October 21, 2023 | 1:09 am