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Tesla's Price Reduction Worked

Tesla's Price Reduction Worked

Today is Monday, July 3, 2023.

The Early Bird Index today is 57.27.

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Tesla's Price Reduction Worked

Tesla (Nasdaq: TSLA) has been on a roll in 2023, and now it appears that the electric vehicle giant has another reason to celebrate.

Details: On Sunday, Tesla reported that it produced nearly 480,000 vehicles and delivered over 466,000 vehicles in the second quarter, which was better than expected. Most of those vehicles were Model 3/Y.

Background: Sales from Tesla jumped in the second quarter, thanks in part to the company lowering prices for its vehicles this year. Another thing that helped was new government tax credits for electric vehicles.

Stock Price: Shares of Tesla are up 142% this year, including a 22% jump in the last 30 days.

But: Despite a strong year for its stock price, Tesla has faced some challenges. Recently, a few analysts downgraded the stock.

Final Thoughts: Tesla reports its second quarter financial results on July 19. While the lower prices helped Tesla sell more vehicles, will that decision impact company revenue?

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Notables

Notable Earnings Today: N/A.

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: Soon (Republic), PlayG360 (StartEngine), 1985 Games (StartEngine).

Notable Economic Events Today: Manufacturing PMI (9:45 a.m. ET), ISM Manufacturing PMI (10:00 a.m. ET).

Litecoin’s Pre-Halving Surge

Photo by Michael Förtsch / Unsplash

Litecoin jumped 5% on Sunday and is up 32% in the past week as the cryptocurrency prepares for a major event.

Details: Litecoin is having a halving event on August 2. It is one of the most important crypto events because it rewards miners.

Definition: A halving event is a planned reduction that occurs when a certain number of blocks of transactions occur, which is about every four years or so.

Also: Another reason why Litecoin has been surging lately is that it was one of just four cryptos chosen to be traded on EDX Markets, a new trading platform that launched in late June.

Price: Litecoin is up 60% this year, which is obviously good, but still lagging behind the gains of other cryptos in 2023.

Final Thoughts: For some investors, Litecoin might seem like a good investment this summer because of the halving event. But has the expected surge from the halving event already been priced in? Also, potential crypto regulations could be a major problem to watch out for.

Tyson Foods Drops ‘No Antibiotics Ever’ Label

It seems that Tyson Foods (NYSE: TSN) is about to make a dramatic change to its chicken supply chain, according to a report on Sunday.

Details: The Wall Street Journal reported that Tyson Foods is reintroducing some antibiotics to its chickens and will drop its “no antibiotics ever” tagline from its chicken products. The meatpacker originally added the tagline in 2017.

Stock Price: Tyson Foods is down 19% this year, but shares are up 1% in the past 30 days.

Final Thoughts: It remains to be seen how (and if) this antibiotics thing will impact the stock price. But generally speaking, it has not been a kind year for some consumer stocks.

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