The stock market continued its rally today. S&P 500 went up 1% to 3,999, while NASDAQ increased 1.4% to 12,060.
Tesla (TSLA) jumped from $743 to $815 on the day, following its latest earnings report. Yesterday, the company reported better-than-expected earnings despite a plant closure in Shanghai and supply shortages.
In other news, Accenture (ACN) is experiencing slower growth, but the stock’s down so much I think it can bounce back in a big way.
Tweet of the Day
$TSLA Net Cash Flow of 847 mil is MISLEADING. 936 mil comes from BTC Sale. Seems like @elonmusk asked their acocuntants to make sure they have positive cash flow this Q. pic.twitter.com/4JSokP06aM
— Supreme Bagholder (@FbBagholder) July 20, 2022
Chart of the Day
Our chart of the day is the one-year chart of ACN on July 9 when the stock was at $279. Accenture is experiencing slower growth, but the stock’s down so much I think it can bounce back in a big way.
Accenture, formerly Anderson Consulting, helps companies and organizations solve business challenges and transform their organizations.
Enterprises use ACN for Consulting on what to do, then utilize its Outsourcing divisions including finance, accounting, supply chain, marketing, and sales to get work done.
This qtr, I lowered my Fair Value P/E from 35 to 28, which is a $337 Fair Value. And according to my math, there’s 21% upside during the next year.
ACN is part of the Conservative Growth Portfolio and Growth Portfolio.
