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Tesla Stock Crashes 12% But Jim Cramer Remains Bullish On EV Giant
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Elon Musk's Tesla received backing from Jim Cramer despite weak second quarter earnings, however, the TSLA stock continued plummeting with 12% loss today.
STORY HIGHLIGHTS
Elon Musk's Tesla reported weak Q2 earnings on Tuesday, July 23.
The TSLA stock plunged 8% in after hours due to the earnings miss, which continued in Wednesday's trading session.
However, Jim Cramer remained bullish on the EV giant despite the continued stock declines.
Teslaâs stock experienced a dramatic decline of nearly 12% on Wednesday, July 24, following a disappointing Q2 earnings report. Despite the setback, CNBCâs Jim Cramer remains optimistic about the electric vehicle giantâs long-term prospects.
#TESLA #ElonMusk #Bitcoin #KamalaHarris #MtGox $BTC $ETH $DOGE
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Elon Musk's Tesla received backing from Jim Cramer despite weak second quarter earnings, however, the TSLA stock continued plummeting with 12% loss today.
STORY HIGHLIGHTS
Elon Musk's Tesla reported weak Q2 earnings on Tuesday, July 23.
The TSLA stock plunged 8% in after hours due to the earnings miss, which continued in Wednesday's trading session.
However, Jim Cramer remained bullish on the EV giant despite the continued stock declines.
Teslaâs stock experienced a dramatic decline of nearly 12% on Wednesday, July 24, following a disappointing Q2 earnings report. Despite the setback, CNBCâs Jim Cramer remains optimistic about the electric vehicle giantâs long-term prospects.
#TESLA #ElonMusk #Bitcoin #KamalaHarris #MtGox $BTC $ETH $DOGE
Keep Your Bitcoin on Hand: Tesla's Q2 Financial Report
For the eighth consecutive quarter, Tesla did not sell any of its Bitcoin (BTC), as it explained in its financial disclosures for the second quarter of this year. With a current value of $640 million, the electric vehicle producer own around 9,720 Bitcoins. As a result, the anticipated total cost of purchasing this reserve was around $337 million.
Tesla Announces Net Profit of $1.5 Billion
The second quarter figures that Tesla released were rather good. The company's revenue of $25.5 billion was about $1 billion more than what the market had anticipated. Net profit, as measured using GAAP, came to $1.5 billion. The health of the business was further shown by the $1.34 billion in free cash flow.
Despite this, after-market stock prices fell more than 8% as a result of the results announcement showing a fall in car sales for the second consecutive quarter. As a result of many market factors, Tesla reported a $980 million loss for the second quarter. We are in a solid financial position, even if revenues were down this quarter, CEO Elon Musk said.
Elon Musk Asserts His Allegiance to Trump
In addition to financial data, Tesla's Q2 report included key statements on the company's future endeavors. The Robotaxi's debut has been delayed from August 8 until October 10, according to Elon Musk.
"I am confident the new timeline will hold," Musk said in an effort to assuage concerns and quell panic about the delays.
In terms of politics, Musk has stated his support for Donald Trump and has hinted at the possibility of donating to a PAC that backs Trump. Following his shift in attitude towards digital currency, Trump has become a beloved figure in the crypto world.
#BTC #TESLA #ElonMusk $BTC
For the eighth consecutive quarter, Tesla did not sell any of its Bitcoin (BTC), as it explained in its financial disclosures for the second quarter of this year. With a current value of $640 million, the electric vehicle producer own around 9,720 Bitcoins. As a result, the anticipated total cost of purchasing this reserve was around $337 million.
Tesla Announces Net Profit of $1.5 Billion
The second quarter figures that Tesla released were rather good. The company's revenue of $25.5 billion was about $1 billion more than what the market had anticipated. Net profit, as measured using GAAP, came to $1.5 billion. The health of the business was further shown by the $1.34 billion in free cash flow.
Despite this, after-market stock prices fell more than 8% as a result of the results announcement showing a fall in car sales for the second consecutive quarter. As a result of many market factors, Tesla reported a $980 million loss for the second quarter. We are in a solid financial position, even if revenues were down this quarter, CEO Elon Musk said.
Elon Musk Asserts His Allegiance to Trump
In addition to financial data, Tesla's Q2 report included key statements on the company's future endeavors. The Robotaxi's debut has been delayed from August 8 until October 10, according to Elon Musk.
"I am confident the new timeline will hold," Musk said in an effort to assuage concerns and quell panic about the delays.
In terms of politics, Musk has stated his support for Donald Trump and has hinted at the possibility of donating to a PAC that backs Trump. Following his shift in attitude towards digital currency, Trump has become a beloved figure in the crypto world.
#BTC #TESLA #ElonMusk $BTC
#TESLA #Bitcoin Holdings
Tesla owns around 10,000 while Block has about 8,000, and as both firms acquired most or all of their Bitcoin holdings at a lower price, they stand to reap a gain when the new rules are enacted, according to FASB, âfor fiscal years beginning after Dec. 15, 2024.â
Its holding is only overshadowed by the BTC that Michael Saylor's MicroStrategy (MSTR) and bitcoin miner Marathon Digital Holdings (MARA).
#Write2Earn
Tesla owns around 10,000 while Block has about 8,000, and as both firms acquired most or all of their Bitcoin holdings at a lower price, they stand to reap a gain when the new rules are enacted, according to FASB, âfor fiscal years beginning after Dec. 15, 2024.â
Its holding is only overshadowed by the BTC that Michael Saylor's MicroStrategy (MSTR) and bitcoin miner Marathon Digital Holdings (MARA).
#Write2Earn
Elon Musk's recent announcement about Tesla potentially accepting Dogecoin (DOGE) for its electric vehicles has stirred the cryptocurrency world. Musk's endorsement of DOGE as the "crypto of the people" could be a game-changer for widespread adoption.
Dogecoin's Journey with Tesla:
Initially a meme in 2013, Dogecoin has grown into a major digital asset with a $23 billion market cap, known for its resilience. Tesla's previous acceptance of DOGE for merchandise hinted at its openness to crypto. However, the possibility of using DOGE for vehicle purchases marks a significant milestone.
Impact of Musk's Announcement
Following Musk's statement, DOGE surged by 10.40%, hitting $0.1887 during Asian trading. This move could accelerate Dogecoin and cryptocurrency adoption globally.
Musk's support highlights the increasing mainstream recognition of cryptocurrencies, hinting at a future where digital assets play a more significant role in everyday transactions.
$DOGE #ALTCOINS #TESLA #ElonMuskTalks
Dogecoin's Journey with Tesla:
Initially a meme in 2013, Dogecoin has grown into a major digital asset with a $23 billion market cap, known for its resilience. Tesla's previous acceptance of DOGE for merchandise hinted at its openness to crypto. However, the possibility of using DOGE for vehicle purchases marks a significant milestone.
Impact of Musk's Announcement
Following Musk's statement, DOGE surged by 10.40%, hitting $0.1887 during Asian trading. This move could accelerate Dogecoin and cryptocurrency adoption globally.
Musk's support highlights the increasing mainstream recognition of cryptocurrencies, hinting at a future where digital assets play a more significant role in everyday transactions.
$DOGE #ALTCOINS #TESLA #ElonMuskTalks
