The stock market closed lower on Tuesday as investors awaited Fed’s decision during its last policy meeting for the year. Meanwhile, Dow Jones Industrial Average recorded its longest losing streak since 1978.
Overall, S&P 500 fell 0.4% to 6,051, while NASDAQ declined 0.3% to 20,109.
Tweet of the Day
Tesla $TSLA stock has broken out and is pusshing higher. Many catalysts coming in 2025 including Cybercabs and a compact car. Energy storage Megapacks are selling like hotcakes. https://t.co/chyfTfjoNu
— David Sharek (@GrowthStockGuy) December 11, 2024
Chart of the Day
Here is the one-year chart of Tesla (TSLA) as of November 12, 2024, when the stock was at $328.
Tesla has a number of catalysts lined up for 2025. In last quarter’s earnings call, Elon Musk stated the energy storage business is growing like wildfire with strong demand for Megapack and Powerwall. Tesla’s Megapack factory in California is now producing 200 a week. Energy revenue increased 52% last quarter, but was still just 9% of total revenue, with Automotive making up 79%.
Tesla also debuted the Cybercab last quarter, with no steering wheel or pedals, and Musk expects production of two million annually by 2026, with ride hailing in California and Texas in 2025. Musk also envisions autonomous driving being safer than human driving by the second quarter of 2025.
TSLA is part of our Growth Portfolio.
