let's talk now about somebody that didn't crush it Tesla Elon Musk I'm sure licking his wounds here today Pete as Tesla closes in on a double digigit drop um they missed on Top Line bottom line and guess what even though they said you know what the cybertruck deliveries are gonna be on track for November 30th uh okay I mean that isn't what the world wanted to hear uh obviously they've made a lot of price Cuts Pete and those price Cuts have obviously cut into the revenue number the sales as well as the profit margin pretty substantially so that's why this one's nearing that double digit loss uh 100% And and like you said I mean here we are the stock has been between 101 believe it or not and a little bit close to 300 bucks and here we are now trading what 221 something like that down about 8% or so so you know the stocks been absolutely everywhere and now it's smack dab in the middle and it it and it's interesting that that's where we find ourselves but like you said they've had to adjust and all everybody in the Auto industry has had to adjust to these rates and what people are having to pay for the cars and that whole thing that's become expensive and all of a sudden you look at all the margins as you said John that's expensive the one thing that does look good to me right now though is when you look year over-year at their revenue that was up 133% and I know we're always focused on well what are the estimates what is this what is that but so there there are some positives maybe that you could take away but it's a it's a difficult time right now we all know that and and are people willing to go and pay the premium which is what Tesla is the premium of the EV Market because there's a lot of cheap EVS out there but you know generally Tesla has a much higher price and and because of that it makes it that much more difficult and I think they're going to have to struggle through this for a little while I don't think this is something that's just a quarter long I think it's another thing and we're going to probably go through another quarter before Tesla can finally start pulling themselves out but a lot of that is really truly based on what are the rates what are people able to borrow for for their Automobiles and I think that's that's going to be a big factor for sure going forward no doubt about that Pete it's going to be uh challenging but I'll say I'll say this I looked at the support level because a bunch of people called me this morning and said where are you stepping back in and I Saidi hate to buy it on the first day down but if I were to step back in which I haven't done yet I would probably be in that 215 range Pete because that happens to be where the 200 day moving average is want more from Market Rebellion don't forget to like And subscribe and learn more about options trading at Market rebellion.com [Music]
