Tesla Drops + A Tiny Stock Rallies 161%

July 11, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 After a bullish day yesterday tech stocks pulled back fairly heavy today with the S&P500 and NASDAQ both closing in the red. - DJIA [+0.1%] - S&P 500 [-1.0%] - Nasdaq [-2.0%] - Russell 2K [+3.6%] [Exclusive Early Access: Invest in the Next Media Powerhouse!]( The $786.2 billion digital marketing industry is ripe for disruption, yet most investors are unaware of the groundbreaking opportunities emerging. This Reg A+ offering grants you early access to a company set to transform the media landscape. Don’t miss out on being part of this media evolution and securing your stake in the next big success story. Act now and capitalize on this wave of innovation and growth! [Claim Your Early Access and Start Investing Today!]( / » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 📈 Tesla Shares Drop 6% After Robotaxi Unveiling Delay 📉 Stock Plunge Amidst Delay Tesla's stock fell approximately 6% on Thursday following a Bloomberg report that the electric vehicle maker is delaying the unveiling of its Robotaxi by two months. 🚗 Delayed Launch Details Initially set for an August 8 introduction, Tesla has postponed the launch to October to allow more time for prototype development, according to Bloomberg, citing sources familiar with the situation. Tesla did not immediately respond to CNBC's request for comment. 📈 Recent Rally Reversed The stock drop on Thursday came after an 11-day rally driven by a better-than-expected second-quarter deliveries report, which had previously erased the stock's losses for the year. However, the shares are now back in negative territory for 2024, a year that has seen significant layoffs and a decline in sales due to an aging lineup of EVs and increased competition in China. 🤖 Musk's Robotaxi Promises Tesla CEO Elon Musk has long promised shareholders a robotaxi. In 2015, he claimed Tesla’s cars would achieve “full autonomy” within three years. In 2016, Musk said Tesla would be able to send one of its cars on a cross-country drive without any human intervention by the end of the following year. 📅 Unmet Deadlines These promises extended into 2019, when Musk told institutional investors that Tesla would have one million robotaxi-ready vehicles on the road in 2020. However, the company has yet to deliver a robotaxi, an autonomous vehicle, or technology that can transform its cars into “level 3” automated vehicles. Meanwhile, competitors like Alphabet’s Waymo and General Motors-owned Cruise have outpaced Tesla. 🚀 Future Vision Reiterated During a lackluster first-quarter earnings report in April, Musk reiterated his vision for Tesla as a company focused on developing robotaxis that will generate income for their owners and create a driverless transportation network. “If somebody doesn’t believe Tesla’s going to solve autonomy, I think they should not be an investor in the company,” Musk stated on the earnings call. The company is expected to report second-quarter results later this month. ⏳ Unveil vs. Release At Tesla, “unveil” dates do not necessarily indicate an imminent commercial release of a new product. For instance, Tesla unveiled its fully electric heavy-duty truck, the Semi, in 2017, but did not begin deliveries until December 2022. Top Winners and Losers 🔥 Locafy Limited [LCFY] $6.07 (+161%) LCFY was the biggest gainer in the market after announcing its first signed contracts through a partnership agreement. Cyngn Inc [CYN] $7.24 (+83%) The autonomous vehicle company rallied on news that they have expanded their dealer network. Kazia Therapeutics Limited ADR [KZIA] $1.24 (+86%) KZIA continued its rally today after going into orbit yesterday due to positive clinical data. Inspire Veterinary Partners Inc. [IVP] $1.59 (24%) IVP was one of the biggest winners yesterday but what goes up must come down. Asset Entities Inc [ASST] $1.62 (22%) Shares of Asset Entities pulled back today after a strong rally that began earlier in the week. NVIDIA Corp [NVDA] $127.40 (6%) Shares of one of Wall Street's favorite stocks fell today as investors rotated out of large-cap tech stocks. That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback! Thanks for reading. I'll see you at the next open! Best Regards, — Adam G. Elite Trade Club Text ELITESTOCKS to 47121 or [click here]( to get our alerts on your mobile device, and never miss another fast-moving stock! P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [Sign Up for Mobile Alerts Now]( [Privacy Policy]( | [Advertiser Disclosure]( [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website, which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside these emails. [Privacy Policy]( | [Terms of Service]( Update your email preferences or unsubscribe [here]( © 2024 Elite Trade Media LLC 1969 Alafaya Tr., Suite #247 Orlando, Florida 32828, United States of America [[beehiiv logo]Powered by beehiiv]( [Terms of Service](