Review on Meta plummeted 10% versus Tesla surged 12% after earning call
$Tesla(TSLA.US$ $BYD COMPANY(01211.HK$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$ The article reported that Meta reported its first quarter earnings on Wednesday, beating analysts' expectations on the top and bottom line. But a disappointing Q2 forecast sent shares of the social media giant plummeting more than 10% following the announcement.
My take: I have said previously that earning performance has little or no immediate effect on share price. I think the market overreacted and Meta may be facing a "larger than expected" price correction. This is so because the stock is overbought in Q1. This may be a warning sign for other Magnificent Seven stocks (except Tesla) which may face similar share price plummet after earnings call. On why Tesla share price surged over 12%, you can read the related article here:
Tesla shares jump 12% after company aims to produce affordable new EV by early 2025
Tesla shares jump 12% after company aims to produce affordable new EV by early 2025
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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darkhorse : I agree with your statement. PE ratios of some companies (after the bull run in Q1) may be unsustainable throughout the year. Whats your view? Is meta a buy call now?