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Palantir (NASDAQ: PLTR) stock price hit a top before the Q2 earnings release and is pulling back now that the news is in. However, it is unlikely the post-release pullback will result in a significant downturn, given the report's details. The headline figures were as expected, w

Let's face it: 2023 has been an incredible year for the stock market. Every which way you turn, there are stocks breaking out to new 52-week highs.

Below is Validea's guru fundamental report for TESLA INC (TSLA). Of the 22 guru strategies we follow, TSLA rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit cha

U.S. stock index futures fell on Tuesday, with financial stocks edging lower after Moody's overnight cut credit ratings of several small- to mid-sized U.S. banks and said it could downgrade some of the country's biggest lenders.

September S&P 500 futures (ESU23) are down -0.45%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.49% this morning as fresh worries about China’s economic rebound and the state of U.S. banks weighed on sentiment.

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U.S. stock index futures slipped on Tuesday, with financial stocks edging lower after Moody's overnight cut credit ratings of several small- to mid-sized U.S. banks and said it may downgrade some of the nation's biggest lenders.

September S&P 500 futures (ESU23) are down -0.45%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.41% this morning as fresh worries about China’s economic rebound and the state of U.S. banks weighed on sentiment.

China's passenger vehicle sales shrank for a second consecutive month in July, as discounts and government's support measures failed to persuade consumers wary of a sputtering economy and a prolonged slump in the housing market.

China's passenger vehicle sales posted a 2.6% drop in July from a year earlier, the China Passenger Car Association (CPCA) said on Tuesday.

(RTTNews) - Tesla Inc. (TSLA) disclosed in a regulatory filing that its chief financial officer, Zachary Kirkhorn, stepped down from his role but will remain with the company through the end of the year to "support a seamless transition."

San Francisco may be the symbolic capital of the tech industry, and the hub of next-generation services like artificial intelligence, but when it comes to self-driving cars, city officials are clear: not so fast.

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Although the burgeoning electric vehicle (EV) market presents massive opportunities, investors may ultimately find a greater probability of success through charging network operators like EVgo ( NASDAQ:EVGO ). Bluntly speaking, individual EV brands won’t get very far without robust public infrastructure. Therefore, EVGO stock makes a better long-term case for the global EV rollout. I am bullish on the charging specialist. EVGO Stock Rises on Substantive Financial Progress Most investors recognize the upside potential of EV integration. However, the problem with individual EV manufacturers centers on a lack of financial substance. Consider the startup sector in this space, and you’ll see plenty of aspirational but pre-revenue enterprises. In contrast, EVGO stock benefits from tangible operational progress. Recently, TipRanks reporter Sheryl Sheth said that shares of the charging network company popped sharply following solid results for its Fiscal Q2 2023 earnings report. Specifically, EVgo disclosed an increase in the number of drivers using its chargers, leading to an overall encouraging print. Moreover, the company posted revenue of $50.6 million, representing a massive 457% increase on a year-over-year basis. Not surprisingly, this tally easily beat analysts’ consensus estimate calling for $29.45 million. Also, its eXtend unit, which offers charging infrastructure and solutions for businesses, contributed 66% of the expansion of sales growth. Nominally, the unit rang up $33.3 million in revenue. On the bottom line, EVgo posted a diluted loss of 8 cents per share. Though this figure landed in red ink, it nevertheless mitigated analysts’ expectations, which called for a loss of 26 cents. However, in the year-ago quarter, the company posted diluted earnings per share of 6 cents. Still, a key takeaway is that “the total amount of electricity provided to charging customers (network throughput) during Q2 grew 14% year-over-year to 24.9 gigawatt-hours,” wrote Sheth. In contrast, individual EV makers are suffering challenges. For example, Tesla ( NASDAQ:TSLA ) recently incurred a slowdown in deliveries in China. Essentially, EV demand may slow from prior peaks until charging networks become adequate. That’s a huge addressable market for EVgo. Fundamentals Point to a Favorable Direction Although betting on a single EV manufacturing brand may yield far greater profitability potential, the likelihood of success is arguably limited. Fundamentally, individual brands must compete with other brands, convincing customers that their way is the superior path. On the flip side, every EV driver needs access to charging. Therefore, EVGO stock enjoys a brand-agnostic framework, making it exceptionally compelling. To this point, charging network operators during the early phase of the EV rollout suffered timing issues. Because the first-generation EVs were quite pricey – and they still are, generally speaking – only affluent customers could afford them. These folks typically had access to a garage or carport, thus facilitating home charging. However, as technologies advance and economies of scale rise, EVs should become more accessible to a larger consumer base. At that point, you’re dealing with a sizable segment of the population that lack garages or carports. Under this phase of the EV rollout, competition will be particularly fierce as brands would then have to combine quality with attractive pricing. That said, the beauty of EVGO stock is that its shareholders don’t have to worry much about said competition. While the brands fight over sector dominance, they all would have one thing in common: their new middle-income consumers will need access to public charging. Given EVgo’s improving position in the industry, it’s no surprise to see its valuation swinging higher. Also, it’s worth mentioning that public charging networks don’t just serve garage-less drivers. If anyone, irrespective of their housing situation, drives many miles for their occupation, home charging might not be robust enough. Further, those who like to travel across state borders for vacations will need public charging. Either way, EVGO stock benefits. Is EVGO Stock a Buy, According to Analysts? Turning to Wall Street, EVGO stock has a Moderate Buy consensus rating based on four Buys, three Holds, and one Sell rating. The average EVGO stock price target is $8.04, implying 67.5% upside potential. The Takeaway: EVGO Stock Banks on a Common Need More than likely, those who speculate on an individual EV brand enjoy greater reward potential. However, figuring out which brand will dominate represents no easy task. Further, as companies saturate the high-income population, competition will be fierce for the middle-income crowd. However, this segment will likely require vast public charging networks. That’s where EVGO stock stands to benefit handsomely, making it worth consideration. Disclosure

Few entities dominate their core market quite like electric vehicle (EV) manufacturer Tesla ( NASDAQ:TSLA ). Even with startups competing aggressively in the space, the concept of EVs remains practically synonymous with Tesla. That said, consumer pressures point to the company dragging down the stretch. Therefore, in the near term, I am tactically bearish on TSLA stock. TSLA Stock Must Move Beyond the Low-Hanging Fruit While being first doesn’t always guarantee success, it can certainly yield significant rewards. A case in point is TSLA stock. On an adjusted basis, shares were trading at a little over a buck in 2010. Undeniably, then, those who invested heavily in Tesla during its early years saw life-changing returns. However, at some point, the company must have a strategy that moves beyond the low-hanging fruit. To clarify the above point, no one is silly enough to dismiss the raw power of the Tesla brand. As TipRanks reporter Vince Condarcuri stated earlier this year, the company’s Model Y took the title as the world’s top-selling car. Data from Jato Dynamics revealed that the Model Y sold 267,200 units worldwide. Fundamentally, this groundbreaking achievement is impressive for two reasons. First, Tesla beat Toyota ( NYSE:TM ) and its top-selling Corolla (at 256,400 units) and RAV4 (at 214,700 units) models. Second, the Model Y costs significantly more than the latter two budget-friendly vehicles. At $47,490, the Model Y’s price dwarfs the Corolla’s $21,550 and the RAV4’s $27,575. Under this framework, it would seem that consumers will continue opening their wallets and buying high-priced EVs. However, other data points suggest that Tesla has already addressed the low-hanging fruit -- the customers that can readily afford its vehicles. Looking ahead, management will need a plan to attract customers that don’t necessarily have the most bountiful financial resources. Put another way, TSLA stock may be priced to a standard it can’t quite meet. Some Cracks Appear in Tesla’s Armor Although arguably no one would question Tesla’s dominance in the EV sector, at least some cracks are starting to appear in Tesla’s armor. As a result, investors shouldn’t be in too much of a hurry to bet everything on TSLA stock. For example, TipRanks contributor Steve Anderson recently pointed out that TSLA stock fared well in the charts despite fading vehicle delivery numbers in China. Citing the China Passenger Car Association, Anderson reported that Tesla sold 64,285 Chinese-made EVs in July. One year ago, the Shanghai Gigafactory failed to deliver even half that figure. Still, to Anderson’s point, just a month prior, the Gigafactory delivered 31% more. Interestingly, China has been struggling with less-than-desirable economic progress, which may contribute to declining EV demand. More critically, in the U.S., the average age of vehicles on its roadways continues to hit record numbers. In 2022, this metric reached a then-record 12.2 years. This year, data from S&P Global Mobility confirmed that this statistic hit 12.5 years. For sedans, this automotive category spiked to 13.6 years. Essentially, inflation is starting to catch up with consumers. During the worst of the COVID-19 pandemic, policymakers made the decision to backstop the impact of the crisis. However, such actions don’t occur in a vacuum. One of the major consequences of the monetary and fiscal stimulus programs is that now, fewer households can afford luxuries such as new EVs. Instead, consumers are choosing to drive their (combustion) cars until the wheels fall off. That’s not a great backdrop for TSLA stock. Investors Have Come to Expect Too Much Perhaps one of the more worrying headwinds for TSLA stock might not have anything to do with the underlying business at all. Instead, investors may have come to expect too much from Tesla. If it can’t continue delivering against elevated hopes, TSLA could suffer. For instance, it’s wonderful that Tesla posted revenue of $81.46 billion last year. However, moving forward, growth will not be so easy to come by. In 2008, the company rang up sales of $15 million. By 2011, revenue had reached $204 million; by 2013, sales hit $2.01 billion, about 10x higher than 2011's figure. However, it took until 2018 – when Tesla posted revenue of $21.46 billion – for the EV maker to do another 10x. Stated differently, the growth rate is noticeably fading as Tesla addresses the low-hanging fruit. Now, it must grab the higher-hanging fruit, which is a much more difficult proposition, especially in this economy. Is TSLA Stock a Buy, According to Analysts? Turning to Wall Street, TSLA stock has a Hold consensus rating based on 10 Buys, 13 Holds, and four Sell ratings. The average TSLA stock price target is $263.33, implying 4.7% upside potential. The Takeaway: TSLA Stock Enters a New Phase Ultimately, the market doesn’t look backward. While there’s no denying that Tesla dominated the EV space since the early 2010s, what it does next is the most important factor for current investors. However, the data and the broader economic conditions don’t necessarily signal encouragement. That’s why investors should be careful about TSLA stock. Disclosure

U.S. stocks finished higher on Monday, regaining some of the ground lost last week, as investors added positions ahead of Thursday's highly awaited U.S. inflation report.

Luxury electric vehicle maker Lucid Group stuck to its annual production target after it missed quarterly revenue estimates, sending its shares higher by about 4% in extended trading.

U.S. stocks closed higher on Monday, regaining some ground lost last week, as investors added positions ahead of Thursday's highly awaited U.S. inflation report.

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Tesla Inc (Symbol: TSLA), where a total of 1.7 million contracts have traded so far, representing approximately 168.0 million underlying shares. That amounts to about 1

Wall Street advanced on Monday, shaking off some early choppiness after last week's subdued performance, as investors added positions ahead of Thursday's highly awaited U.S. inflation report.