- 20 July 2023
- Posted by: Federica Montella
- Categories: eToro CopyTrader, Investing
Tesla shares dropped but…
Data released yesterday showed that Tesla’s profit margins dropped in the last quarter.
Tesla’s gross profit margin slipped to 18.2% in the past quarters, down from 18.8% in the first three months of 2023 and 26.2% a year ago.
The main reason for the profit margin drop is the series of price cuts done this year to boost the selling and to fight the competitors in the electric car market, which has negatively impacted the earnings.
The positive note has been the fact that Tesla has reached its target of selling 1.8M vehicles this year and consequentially a record-high profit of $24.93 billion.
However, Tesla’s shares have gone down by 4% on Wednesday, after Elon Musk’s comment regarding the possibility to continue to reduce its car prices if the Federal Reserve will hike the interest rates again this year.
This decision will be taken to help Tesla’s clients to finance the cost of the vehicle so that, thanks to the eventual price reduction, the car will not be more expensive, due to the higher interest rates.
Tesla’s Chief Executive, Elon Musk, also said that he would invest $1bn over the next year in its new AI training hardware, called Dojo, in order to reach the goal of a fully autonomous car.
Portfolio update
I am rebalancing my portfolio gradually.
I am adding new positions and will close some in the upcoming months.
If you are already copying my portfolio, please keep the copy open.
If you are thinking of copying me, now could be the right time, if you can invest for the long term (years).
Remember to copy the open trades to optimize the copy.
Remember to set the stop loss on the copy at the minimum level, so you don’t get stopped if there is a correction.
Thank you, everyone. Have a nice day!
Steps to follow to copy my portfolio automatically:
1. Create an eToro account here: https://federicamontella.com/go/etoro/
2. Verify your account and make a deposit of at least 200 USD (you can deposit in any currency, like GBP and EUR)
3. Go to my profile page: https://federicamontella.com/go/etoro-passionforprofit/
4. Start the copy (copy open trades and set the lowest stop loss possible, to allow some movement)
5. Enjoy, it’s all automatic. You will make passive income 24/7
Let me know if you have any questions.
Federica Montella
eToro Popular Investor
Follow me on social media
