Tesla had a bruising week: Cybertruck issues a recall notice to fix a potential issue with the accelerator sticking and investors are losing confidence that Tesla can continue is pace of growth as EV faces a pullback in demand. Seems Elon is spread thin running Twitter, SpaceX, Boring Company, xAI and Tesla.
On Friday, Nasdaq posted a 2% drop as tech started posting earnings. Netflix said it would stop releasing subscriber numbers which caused a panic among investors fearful that growth is stalling. Nvidia dropped 10% after Supermicro, one of its largest data center customers, and who itself saw its share price crater 25%, said it would not share prelim earnings spooking investors that ride is coming to an end.
Q1'24 earnings is turning out to be quite eventful. Another month of earnings left -- more (bloodshed?) to come!