Microsoft tumbles following weaker than expected Azure cloud revenue growth [free WSJ article]
Friday's jobs report had 114k jobs created vs 175k expected. We are now entering correction territory.
I executed some QQQ covered calls at strikes of $470 and $480 expiring two and three weeks from now to capitalize on the short-term volatility. Trying to make a bit of money. QQQ closed at $448.75 today. Let's see if my options stay OTM.
Quick post this week because I need to tuck the kids into bed. Tesla had a rough week when it reported earnings. Nasdaq overall had a really bad week, so Tesla's miss probably got exaggerated a bit as investors flocked to other small cap stocks.
I guess fears of Mt Gox holders flooding the market with BTC was overexaggerated. In a move that went against the general tech market, bitcoin rocketed by 17% this week while the Nasdaq posted a loss of 3.6%. Why did the Nasdaq drop so precipitously? Fintwit suggests it was mainly driven by investors rotating out of tech stocks and into other industries and small cap in anticipating of a September rate cut.
Tesla is scheduled to unveil its Robotaxi concept on 8/8 but now it's expected to be in October.
I don't think this is a launch announcement but rather announcing a project that will probably take 10+ years to materialize. Just like how long it's taking FSD to live up to its promise. We finally have some potential tech to make FSD viable.
https://www.inc.com/reuters/tesla-delays-planned-summer-robotaxi-launch-until-october.html
Tesla finally dug itself out of the hole and is now in positive territory for the year. Tesla reported 443,956 deliveries well above what investors were expecting.
Bitcoin on the other hand, had a tough weak as reports of Mt Gox's bitcoins stash is being return to its customers which investors are speculating may lead to a glut of BTC hitting the market.