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Procter & Gamble Misses Quarterly Sales Estimates Previous Articles Subscribe to Get Small Cap News & Alerts Chris Lau - Friday, April 19, 2024
Today's Most Popular Trades: Palantir, Tesla, Zillow, and More
Traders are anxiously watching Palantir (PLTR) today. When the firm posts results next month, investors expect the firm to post strong sales from governmental customers. The software firm sells solutions related to counter-terrorism efforts, along with analyzing large data sets for big companies.
After trading below its 52-week low, bargain hunters will trade Tesla (TSLA) today. TSLA stock closed at $149.93. At a P/E of 34.8 times, the stock may have more downside. Ford (F) trades at an 11.17x P/E, while Stellantis (STLA) is inexpensive at a 4.08x P/E.
Ahead of its quarterly report, Tesla fired over 10% of staff and failed to confirm a mainstream EV release. Furthermore, CEO Elon Musk confirmed on April 18 that it delayed Cybertruck deliveries. It is looking into reports of the accelerator pedal getting stuck after its cover slipped off. While this sounds like an inexpensive fix, potential customers may question Tesla's product quality.
In real estate, mortgage rates soared above 7% (to 7.1%), according to Freddie Mac. Watch Zillow (Z) today. The stock is now down ~ 32% since peaking at $61 intraday in February. At $41.81, the stock still trades above fair value. Demand for homes will fall as customers wait for mortgage rates to fall. That will not happen until inflation rates fall.
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