ETFs That Gained on Mag 7's Worst Day in a Year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 12 2024
0mins
Source: NASDAQ.COM
- Tech Stocks Performance: Big Tech stocks like NVIDIA and the "Magnificent 7" group, including Tesla, had a significant drop in value, with the Nasdaq Composite slipping almost 2% due to various factors.
- Market Response to Inflation and Rate Cuts: Following a decrease in the Consumer Price Index (CPI) and talks of potential rate cuts by the Fed, investors shifted focus to rate-sensitive sectors like Real Estate and Utilities, anticipating benefits from a low-rate environment.
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Analyst Views on TSLA
Wall Street analysts forecast TSLA stock price to fall
30 Analyst Rating
12 Buy
11 Hold
7 Sell
Hold
Current: 404.660
Low
25.28
Averages
401.93
High
600.00
Current: 404.660
Low
25.28
Averages
401.93
High
600.00
About TSLA
Tesla, Inc. designs, develops, manufactures, sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to its products. Its segments include automotive, and energy generation and storage. The automotive segment includes the design, development, manufacturing, sales and leasing of high-performance fully electric vehicles, and sales of automotive regulatory credits. It also includes sales of used vehicles, non-warranty maintenance services and collisions, part sales, paid supercharging, insurance services revenue and retail merchandise sales. The energy generation and storage segment include the design, manufacture, installation, sales and leasing of solar energy generation and energy storage products and related services and sales of solar energy systems incentives. Its consumer vehicles include the Model 3, Y, S, X and Cybertruck. Its lithium-ion battery energy storage products include Powerwall and Megapack.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Liquidity Ratio: Despite Musk's net worth reaching $1.3 trillion, only about 0.1% is in cash or cash equivalents, indicating a highly conservative liquidity management strategy while still maintaining over $1 billion in cash for daily expenses.
- Tesla Holdings: Musk holds about 10% of Tesla, which is valued at approximately $1.5 trillion, making his stake worth around $150 billion, further solidifying his leadership position in the electric vehicle market.
- Other Investments: In addition to SpaceX and Tesla, Musk founded The Boring Company and Neuralink, both estimated to be worth around $5 billion each, showcasing his extensive involvement across multiple high-tech industries.
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