Thursday’s Headlines: Why Is Tesla Stock Up Today?

Thursday’s Headlines: Why Is Tesla Stock Up Today?

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Tesla Motors (TSLA) +3.3%

Cloudflare (NET) +3.0%

Texas Roadhouse (TXRH) +2.2%

Evolent Health (EVH) +1.7%

Zillow (Z) +1.6%

Moving Down ⬇️

TrueCar (TRUE) -4.8%

Twilio (TWLO) -4.3%

Spotify (SPOT) -3.5%

BlackLine (BL) -3.2%

Datadog (DDOG) -2.8%

1. Shares in the world’s most valuable automaker, Tesla (TSLA), rose 3.28% on Wednesday after CEO Elon Musk announced a Model S price cut, the second this week. The company’s most successful product will be cut by a further 3.5%, bringing its total price down to  — wait for it — $69,420… *sigh*. The announcement comes after one of the electric vehicle-maker's competitors, Lucid Motors, said their luxury electric sedan, the Lucid Air, would start at $77,400, which could be reduced to $69,900 with federal tax cuts. Musk also teased on Wednesday that production for the seven-seater Model Y will begin next month, with initial deliveries expected as early as December. You can read his tweets for yourself here.

2. Despite the launch of its new marketplace integrations on Wednesday, shares in teleconferencing leader Zoom (ZM) fell 1.84% yesterday. Zoom's new OnZoom marketplace allows anyone to host and sell tickets for virtual events, while also integrating the ability for nonprofits to accept donations — so wave goodbye to those pointless Zoom quizzes and poker games, we can play for real stakes now. On another note that will very much please those who value privacy, Zoom also said that it will begin rolling out end-to-end encryption (a feature it's been promising since acquiring Keybase in May) to users next week. You can find all of Zoom’s updates on their investor relations page here.

3. Fintwits' favorite growth stock, Fastly (FSLY), has had an evening to forget after falling as much as 30% after-hours following an update to its quarterly guidance. The company, whose core technology helps companies speed the delivery of digital content to consumers, said it now expects revenue of $70 million to $71 million, compared to its previous guidance of $73.5 million to $75.5 million. “Due to the impacts of the uncertain geopolitical environment, usage of Fastly’s platform by its previously disclosed largest customer did not meet expectations, resulting in a corresponding significant reduction in revenue from this customer,” the company said in the release. Fastly shares are still up 473% year-to-date, so investors shouldn’t be too distressed by this dip yet. Read the official release here.

JamieJamie

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