Earnings are in, and they were abysmal!
Q4 earnings were 71 cents a share — a 2 cent miss. Elon was pretty obscure in the earnings call, only telling investors that growth would be notably slower in 2024 than in 2023. The stock was down -8% in pre-market trading.
I’m pretty sure Tesla is going to keep going down today.
The bad earnings call, the 9-day below the 20-day, and the bearish engulfing candle that formed yesterday, all give me more data points to think Tesla will continue to drop.
Yesterday our handed us a 41% winner. So, I’m planning more of the same today.
Trade Idea:
Price Target: $205
Options Contract: 26 JAN 2024 $205 PUT