The non bitcoin focused evening read (bitcoin prices are up 12% to $16,917 as of this writing)...
Tesla Is Hot Button, Per the Usual
A little something for the bull and bear camps on money losing electric car company Tesla (TSLA - Get Report) . On the positive side, Electrek reports that Tesla is on the verge of sharing a blowout quarter for deliveries. Key to this call is visual evidence that Tesla may be getting its Model 3 production issues worked out (a big positive).
Unfortunately for the bulls, now may just not be a good time to be holding Tesla's stock. As TheStreet first reported (I see you hucksters out there that have since piled onto this call) late last week, Tesla's stock is forming the dreaded death cross. You can read more on this bearish stock pattern -- and what Tesla's stock is doing -- by tapping on the above link.
Sorry Elon Musk, but Boeing (BA - Get Report) CEO Dennis Muilenburg is the man. Take a look at the year the aerospace giant has put on the board. Winning new contracts has helped send Boeing shares soaring by 83%. This isn't some hot tech startup, it's Boeing. As if that wasn't enough for investors, Muilenburg signed off on a press release after the close detailing a 20% dividend hike and a new $18 billion stock buyback.
Negative folks would say this evening's news are the company's way of hinting stock price gains in 2018 will be much slower. Hey, have to keep those new shareholders engaged in the story. Positive folks such as myself will say Boeing is getting the job done on all fronts. Hat tip, Mr. Muilenburg.
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A red-hot stock market this year hasn't meant explosive gains for all IPOs. Actually, it has been quite the contrary.
This year's U.S. IPOs have returned 9.0% on average, according to Bloomberg data. The S&P 500 has returned a heartier 19%. About 85 stocks are presently trading below their 2017 offering prices, Bloomberg data shows.
Lagging IPOs this year include:
- Snap (SNAP - Get Report) -34%
- Blue Apron (APRN - Get Report) -72%
- Qudian (QD - Get Report) -69%
- Altice (ATUS - Get Report) -58%
Even a bubbly stock market won't necessarily hide flawed business models. Memo to the investing masses.
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