Reddit stock gains momentum as the company’s first profitable quarter marks a significant milestone, pointing to a turning point for the social platform that has been unprofitable for almost two decades.

It saw a cool $29.9 million profit on top of revenue of $348.4 million – a 68% increment from last year as its user base grew and ads generated profit. This shift, really, has just been quartered after Reddit reported $575 million in losses when it went public, but it has made up those numbers with strategic reductions and revenue increases.

Daily Users Jump 47% to 97.2M

Primarily, the daily user base of Reddit, which now counts over 97.2 million heads, an impressive increase of 47% since last year, is considered the major reason for the company’s climb to recent success.

According to Reddit CEO Steve Huffman, the platform’s automated translation features, which are available in several languages, are driving high user engagement. The platform now sees over 100 million daily users actively using these translation features. This expansion is part of Reddit’s plan to increase its global presence by entering more than 30 new markets by 2025.

The platform’s advertising income grew substantially to $315.1 million, while “other” revenue channels like data licensing provided additional support. Reddit’s alliances with some of the prominent names in the technology world, such as Google and OpenAI, who utilise Reddit’s data in teaching AI models, clearly show the platform’s influence and revenue potential in the AI industry.

Reddit plans to improve its search function. It also aims to increase translation services. These improvements could add more user value. This could make Reddit stock more attractive for investors. The company’s ability to maintain profitability will be crucial. Reddit continues to grow in its industry. Its user base keeps expanding. The company’s monetisation strategies are advancing.

Reddit Inc. Stock Chart Analysis

RED/USD 15-Minute Chart

Reddit Inc. (NYSE: RDDT) stock showed a little bit of volatility on 30 October, with shares being traded at $81.70, which is 0.93% down from the session. The technical picture displays a recent high of $82.97, giving way to resistance at that level, whereas support seems to be holding near $76.67. At the moment, the stock price is meandering in the $81–$82 range, thus limiting the upside in the near term.

Reddit Inc. Stock Eyes $80-$83 Range

In the 15-minute chart, there are ups and downs. Still, the overall trend is bullish in the previous days, even though the momentum has been decreasing. The candlestick patterns show that sellers are around the $82 mark, which could suggest possible consolidation in the market shortly. On the other hand, if a break occurs above $83, it will mean the continuation of the upwards momentum.

The Relative Strength Index (RSI) reads 47.56, sitting close to 50. This indicates that traders have neither overbought nor oversold Reddit stock at the current time. This implies that we are more or less coming out of one trend and cruising in another, and therefore, highly volatile price moves will not occur. Nonetheless, if the RSI falls under 40, it could mean additional downside pressure.

In the near term, the Reddit stock might likely be trading in the $80 to $83 range. It is worth the extra attention on the $83 resistance level because of a possible breakout or watch a move below $80, which might be additional risks to the downside.

The post Reddit Stock: Company Reports First-Ever Profit of $29.9M appeared first on FinanceBrokerage.

Overall Analysis

Bitcoin tries to break the previous day’s high of $68759 but fails and closes negative. 
Ethereum opened sideways and continued directionless moments in the last hours, showing a rally towards the upside. 

Bitcoin Chart Analysis

BTC/USD 15-Minute Chart (Source: TradingView)

On October 25th, Bitcoin (BTC) broke the previous day’s high of $68,759 within 15 minutes but faced a major rejection at this level, forming a double-top pattern on the chart. Later that day, the price broke the neckline of this pattern, delivering returns of up to 2%. On a larger time frame, such as the daily chart, we can observe that the price is currently moving within a channel and attempting to break higher levels.

Analyzing the RSI, we see that Bitcoin faced rejection due to an overbought scenario, as the price moved upward too quickly without consolidation. This led to a price reversal at that level.

Currently, the price is pausing at higher levels, with the RSI providing support. If the price breaks through the current resistance, buyers can enter with a target of $69,385 and a strict stop loss of $68,350.

However, if the price once again faces rejection at higher levels, it could form a triple top pattern, which presents a potential trading opportunity with a small stop loss and higher profit targets.

Ethereum Chart Analysis

ETH/USD 15-Minute Chart (Source: TradingView)

On October 27th, Ethereum continued to display sideways momentum, creating opportunities for scalping trades only. On a larger time frame (daily chart), Ethereum is trading in a tight range, which means even small swings on smaller time frames are driving the RSI into overbought territory.

The current level shows limited room for upward movement, as $2,556 acts as a major rejection level. A retest of the supporting trendline could trigger a buying opportunity. If the price holds the support, traders can enter with a target of $2,556 and place a stop loss below the recent swing low.

If the second largest crypto continues to make higher highs and higher lows, breaking the $2,556 level could provide a safer entry, with a stop loss below the swing low and targets at $2,585 and $2,621.

Option sellers can also take advantage of the sideways market by selling 2700 CE and 2300 PE options.

The post BTC and ETH: Technical Analysis of Recent Price Action appeared first on FinanceBrokerage.

McDonald’s is geared up to report its third-quarter results on Tuesday morning against the backdrop of a recent increase in scrutiny after an E. coli outbreak linked to its Quarter Pounder burgers. The Centers for Disease Control and Prevention (CDC) issued a warning last week, associating 75 cases, one of them a fatality, with the diced onions that go in the burger. McDonald’s headlined by yanking the item out of its menu at 20% of its US locations. Still, it is rescheduling the re-release of the burger without onions once health authorities declare their non-GMO beef patties as consumption-safe.

Even though the company is dealing with reputation issues, the analysts had already predicted that the company would face a difficult situation in the earnings report because of the worldwide business recession.

Worldwide inflation has brought down the buying pattern among world consumers, which has played a part in a 0.6% drop in same-store sales for the third quarter of the year. United States of America’s market is still the shining light where McDonalds have attracted more customers with low-price deals such as a $5 combo meal, which the store introduced in June. This will boost the USA reports of the same store, which should increase by 0.5%.

Market Cap Holds at $210B: All Eyes on Q3 Report

McDonald’s stock has been taking a hit as it has declined by 6% since the outbreak news broke out, and at the same time, the stock has remained unchanged in the year to date and has a market cap of approximately 210 billion dollars.

The company’s approach to health-related crises and customer loyalty in a less-buoyant economic backdrop will be features that investors pay attention to as they await Tuesday’s report. Operations in the time-out phase will sheer to whether McDonald’s can add the growth path without any loss in public trust or not.

Mcdonalds Stock Chart Analysis

MCD/USD 15-Minute Chart

Valuing McDonald’s stock (NYSE: MCD), the current trading price is $296.79, which means that it is up by 1.43% on October 29, although it is still far from the highest point of the stock at $317.90, which was reached at the past. The stock, from a technical viewpoint, had a strong reaction in the form of a rally during the period of July to September when it rose from around $270 to above the $300 point. However, the investors’ continued positivity stopped when the E. coli crisis, which was also the reported E. coli outbreak with the retailer, overshadowed the company.

McDonald’s RSI stands at 43.05, which means that the stock is changing in the neutral to slightly oversold region. It could be a prospect for buying when the psychology stabilises. McDonald’s RSI levels were over 65 earlier this year. Yet, the RSI dip recently tells us that the market has lost some of its shine as a result of weaker sentiment, mostly due to some health issues and inflation-rise-related consumer cautiousness.

Analysts Expect 0.6% Drop in Global Sales

The upcoming McDonald’s Q3 earnings report has been a source of worry for analysts, who predict a 0.6% reduction in same-store sales worldwide as a consequence of the weaker international demand. Meanwhile, the US market holders remain confident that same-store sales should increase by 0.5%. They attribute this positive move to new offerings such as the $5 combo meal.

Technically, we will be tracking the $290 mark as the main support. In the event that McDonald’s can sustain that zone, a potential rally can be realised. Conversely, the underperformance of earnings may trigger a decline below $290, which can imply more downside. But earnings stick below $290; look out; it possibly could get worse.

The Q3 earnings report is among the things that one should pay attention to because it enables them to know what kind of steps the management to implement during a crisis and their forecast of US sales. Because of the $290 level, if Mcdonald’s remains above it, we might profess to buy even more—think about accompanying your profits to a loss if earnings have a good outlook!

The post McDonald’s Stock Eyes Q3 Report Amid E. Coli Crisis appeared first on FinanceBrokerage.

Top Gainers

Symbol
Company Name
Price
Change %

SANTOS
Santos FC Fan Token
$5.17
+57.15%

PROS
Prosper
$0.4042
+28.53%

ALPINE
Alpine F1 Team Fan Token
$1.56
+17.50%

CTK
CTK
$0.66703
+17.00%

ENA
Ethena
$0.3885
+16.50%

Top Losers

Symbol
Company Name
Price
Change %

OOKI
ooki
$0.00054
-12.20%

AST
AirSwap Coin
$0.0782
-11.64%

TORY
Tory
$0.00216
-9.09%

KP3R
Keep3rV1Token
$24.62
-7.20%

SXP
SXP
$0.2552
-6.90%

On Wednesday’s trading session, Bitcoin showed a strong buying rally and successfully broke the $70,000 mark. Ethereum, on the other hand, gave up the move in the last four trading sessions major rejection from the $2750 level. 

BTC/USD

ETH/USD

#1 Gainer: SANTOS Token

With over 150% returns in just one single day, Santos turned out to be the top gainer in crypto. On the 28th Oct trading session, Santos made a remarkable move after Binance announced SANTOS, Santos FC Fan Token listing. 

On the 28th Oct trading session, SANTOS trading volume was up by 2,244.57%. This news boosts the fans’ momentum, making crypto skyrocket. Binance officially announces the SANTOS listing, but possible changes and adjustments will be made looking at the market post-listing. 

Not only SANTOS but other crypto like Alpine F1 Team Fan Token also surged by 32.57% due to the news, as hopes among the traders increased. 

SANTOS/USDT 15-Minute Chart

Fundamentally, the crypto is all set to gain a bundle of trust from the market movers, but looking at the technical aspect. We can see that though the price moved upwards rapidly, it faced rejections from higher levels. 

The really can be considered as news based. Though after the selling trend, there was a creation accumulation zone, and the price broke out of it, currently price in in up trend.

If looking for an entry, then we have it once the price breaks the $5.82 and gives a close above the level, with the targets of $7.29 and $8.87 and a stop loss at $4.70.

#1 Loser: OOKI Token

OOKI crypto made an all-time low on the 28th Oct trading session, indicating a huge selling scenario. Selling continues as Binance goes through the delisting of OOKI with three other tokens. The delisting will take place on 6th Nov 2024; margin borrowing has been suspended since 25th Oct 2024. Binance will support withdrawal until 6th Feb 2025. 

This sudden action by Binance was taken based on a multiple checks list which the token has to go through on a regular basis. This entire delisting news raised panic among the traders, hence resulting in huge selling. 

OOKI/USDT 15-Minute Chart

As per news, fundamentally the token is going to be delisted from the Binance. Suppose you are looking to create a selling position for the token:

Enter the selling side with the stop loss of $0.000842 and targets based on trailing stop loss. 
Wait for the price to retest the $0.001177 level. Once the price rejects the level, enter the trade with targets of all-time low and stop loss of $0.001589. 

Note: OOKI will be delisted from the platform as of 6th November 2024 due to low-volume traders getting trapped. Make a position based on your own research. 

The post Top Crypto Gainers & Losers: SANTOS Token +57%, OOKI Down appeared first on FinanceBrokerage.

Top Gainers

Symbol
Company Name
Price
Change
Change %

PRCT
Procept BioRobotics Corporation 
91.00
+22.23
+32.33%

OKLO
Oklo Inc. 
24.50
+5.39
+28.21%

DJTWW
Trump Media & Technology Group Corp. 
8.73
+1.55
+21.59%

DJT
Trump Media & Technology Group Corp. 
47.36
+8.41
+21.59%

NBIS
Nebius Group N.V.
23.75
+4.18
+21.36%

Top Losers

Symbol
Company Name
Price
Change
Change %

PHG
Koninklijke Philips N.V.
26.62
-5.05
-15.95%

CX
Cemex, S.A.B. de C.V.
5.46
-0.52
-8.70%

NYCB
Flagstar Finance 
10.55
-0.95
-8.26%

QS
QuantumScale Corporation 
5.69
-0.50
-8.08%

ADT
Adt Inc. 
7.37
-0.51
-6.47%

On the 28th Oct trading session market gave a gap-up opening, indicating bullish momentum by continuing the rally in the first 15 min. Later market totally went sideways with small swings.  

NYSE Composite: +93.4 (-0.48%)
Dow Jones: +273.17 (-0.65%)
S&P 500: +15.40 (+0.27%)

#1 Gainer: PRCT Stock

On October 28th, Procept BioRobotics Corporation (NASDAQ: PRCT) stock reached a new high of $91.24 during the trading session. Company value has skyrocketed by 237.14% in just one single year. With constant progress and innovation in the medical sector, the company has successfully fulfilled their promises, resulting in gaining investors’ trust. 

FDA gave the green flag for a pivotal trial in prostate cancer, comparing it to Aquablation therapy to traditional radical prostatectomy. From the current development, the company is expecting $50 million in annual revenue starting from 2026, as the company has started seeing a significant 61% increase in total earnings for the second quarter of 2024, reaching $53.4 million. FDA has also approved AI-integrated treatment planning and advanced image guidance. 

Technical Analysis

PRCT/USD Stock 15-Minute Chart

Fundamentally, the stock has a lot of strength to move upward; looking into technical aspects, we can see stock delivered a whopping 32.33% return in just one single day. The stock was in an up trend on a daily basis for a long time, indicating the strength in buying. 

Yesterday, the stock opened a gap up and continued to rally upside taking RSI into the overbought zone. Looking for an entry at the current price might get difficult as the stock has made an all-time high with a big gap up space, and if we look at the historical data, then we can see price reverses from a higher level when RSI goes in the overbought zone, as shown in the image. In this situation, there are two entry points. 

This can be a high-risk, reward trade. Using the Fib retracement tool from the 28th Oct high to the 25th Oct low, we can plan an entry if the price faces rejection from the 0.5 level with the stop loss below the buying candle and a target of an all-time high. As the stock is in the news, it might give a rally from this level. 
This trade can give you a low-risk, high-reward ratio, as the price is moving upwards while making a swing and trend line. If the price comes to retest the supporting trend line, then an entry can be made with a stop loss below the trendline and target of all-time high. 

#1 Loser: PHG Stock

Koninklijke Philips N.V. (NASDAQ: PHG) stock tanked 15% on the 28th Oct trading session. As demand from china deteriorates, Dutch cuts its 2024 sales outlook. Recently company posted its Q3 result, which fell short of expectations. Philips CEO said while there is a fall in China demand, they see growth from other regions. 

There is a huge shortage in demand from hospitals and consumers from China, resulting in 3rd Quarter sales of 4.38 billion euros, which is less than compared to last year, which was 4.47 billion euros. 

The investors seem to be disappointed due to low earnings and demand from the chain, resulting in huge sales. 

PHG/USD 15-Minute Chart

Looking at the chart on a daily time frame, we can see the price has corrected by 15.95% in just one single day. Price was in an uptrend for a long time, taking support from the trendline while creating a rising wedge pattern. Still, on the 28th Oct trading session, the price broke the trendline on the 25th Oct trading session and continued its downward rally consecutively on the second day. 

Currently, price is a channel, and making an entry based on FOMO can result in losing money, as RSI is now in an oversold zone. There are two setups in which sellers can make a position. 

If the price comes to retest the $27.98 level and takes rejection, then entry can be made with a target of $25.06 and stop loss of $29.50.
On the other hand, if prices continue to fall and break the $25.09 level, then entry can be made once the price comes to retest the same level with the trailing target of $20.82 and stop loss of $27.  

The post Top Stock Gainers & Losers: PRCT Stock +32%, PHG -16% Drop appeared first on FinanceBrokerage.

Top Gainers

Symbol
Company Name
Price
Change
Change %

IBRX
ImmunityBio, Inc. 
5.32
+1.11
+26.37%

Zk
ZEEKR Intelligent Technology Holding Limited
28.85
+5.74
+24.84%

NWL
Newell Brands Inc.
8.73
+1.55
+21.59%

TPR
Tapestry, Inc. 
50.49
+6.02
+13.54%

DJT
Trump Media & Technology Group Corp.
38.95
+4
+11.44%

Top Losers

Symbol
Company Name
Price
Change
Change %

CPRI
Capri Holdings Limited 
21.26
-20.34
-48.89%

JOBY
Joby Aviation, Inc. 
5.16
-0.88
-14.57%

TBBK
The Bancorp, Inc. 
47.01
-7.95
-14.47%

MHK
Mohawk Industries, Inc. 
130.88
-20.99
-13.82

CRI
Carter’s Inc.
56.95
-8.74
-13.30%

After a sideways opening market tried holding on to higher levels, but as of the last few trading sessions, selling continued in the market after an hour or two.  

NYSE Composite: -104.4 (-0.53%)
Dow Jones: -259.96 (-0.61%)
S&P 500: -1.76 (+0.03%)

#1 Gainer: IBRX Stock

ImmunityBio Inc. (NASDAQ: IBRX) stock turned out to be the top gainer after delivering nearly +77% returns in a single day and, by the end of the day, closing at +26.37%. 

ImmunityBio Inc. rallied for two consecutive days as the company announced the initiation of doses in phase 1 for CD19 t-haNK cell therapy. The trial has been named QUILT 106. This testing will be done on 100 patients looking for a cure in natural killer cell-based cellular therapy like non-Hodgkin lymphoma, a cancer of the lymphatic system. This trial is being conducted in Johannesburg, Pretoria and Bloemfontein. 

The investors are keeping high hopes with the upcoming results of the trial, as this can be a game changer for both company and market movers. 

IBRX Stock 15-Minute Chart

The stock broke all the above resistance after delivering staggering returns of +26.37 in a single day. Making an entry due to FOMO can result in risking huge amounts of money. Looking into the technicals on the 1-day time frame. We can clearly see the stock was selling for a long time.

Before giving a breakout, the price was in the channel, as marked in the image. Buyers were taking a position in the sock. Looking at the current situation, the market made an inverted pin bar like a candle which indicates heavy selling from higher levels. 

You can enter if the price retests the $3.95 level. Place your stop loss at $2.90 and set targets at $6.77 and $7.63.

#1 Loser: CPRI Stock

Capri Holdings Limited (NASDAQ: CPRI) stock faced a -48.89% decline in just one single day, wiping out $2.2 billion from the market cap. 

The stock tumbled after a judge blocked the $8.5 billion tapestry deal, making it difficult for the company to sustain in luxury brand competition. This deal was proposed last year to compete with European giants by bringing major brands under one roof. 

Due to inflation and current market conditions, luxury brands face challenges due to customers focusing on essential buying. This makes it hard for the company to sustain itself. 

Capri could plan to seek another suitor, said Dana Telsey of Telsey Advisory Group, but with the delay in the deal and weak results, investors are looking for their trust in the stock. 

CPRI/USD 15-Minute Chart

After facing a huge selling of -48.89%, the market is in a selling trend on a weekly time frame. RSI is near 30 levels, indicating selling pressure is still ongoing. 

The selling position could trigger if the price breaks the previous day’s low ($20.99) with a target of $8.38 and a stop-loss of $31.69. 

The post Top Stock Gainers And Losers: IBRX +26.37%, CPRI -48.89% appeared first on FinanceBrokerage.

Top Gainers

Symbol
Company Name
Price
Change %

TROY
Tory
$0.002758
+78.02%

AST
AirSwap coin
$0.0945
+29.97%

API3
Api3
$1.66
+15.80%

ZEC
Zcash
$0.1107
+13.81%

OAX
OpenANX
$0.1479
+11.46%

Top Losers

Symbol
Company Name
Price
Change %

KP3R
Keep3rV1 Token
$25.81
-10.44%

TNSR
Tensor
$0.4289
-9.91%

ERN
Ethernity Chain
$2.19
-7.74%

SUPER
SuperVerse
$1.20
-7.00%

LUMIA
Lumia
$1.08
-6.82%

On Sunday’s trading session, major crypto movers, Bitcoin and Ethereum kept on showing sideways momentum. Here bitcoin seems to show better positive results in coming trading sessions where Ethereum still has a long way to go. 

Bitcoin/USD

Ethereum/USD

#1 Gainer: TROY Token

TROY Token (TROY) saw a 241.81% increase in trading volume within 24 hours, while its market capitalisation rose by 83.9% to reach $24.13 million, making it one of the top gainers as of October 28, 2024. The token is associated with Tory Protocol, a global prime broker providing crypto trading and asset management services. The platform is known to provide users with access to aggregated liquidity from multiple crypto exchanges. 

The platform provides various services like Margin trading and Over-The-Counter (OTC) services, enhancing client trading features. They also provide real-time fund transfers and settlements hence creating easy liquidity on investment.  

TROY/USDT 15-Minute Chart

Fundamentally, the crypto is stable and has enough area for growth. Talking technically, the coin is currently trading at $0.002873, an area of rejection. The crypto has delivered nearly 80% returns in 24 hrs, and on a daily time frame it has been consistently in buying since the last 3 days. 

Entry will trigger if the price closes above the resistance level of 0.002762 and comes to retest the level by creating a buying candle. Entry will be made with the target of 0.003768 and stop-loss of 0.001900

#1 Loser: KP3R Token

The KP3R token (KP3R) has plunged by nearly 50% in the last 6 trading sessions. Following a recent review by Binance, the cryptocurrency exchange announced its decision to delist four tokens from its platform, with KP3R being one of them, resulting in sharp selling pressure. The delisting is scheduled to take place on November 6th, 2024.

Binance reviews tokens based on multiple criteria, including project development activity, network stability, and regulatory requirements, before deciding to delist them.

Users who are holding the tokes are notified to take action as soon as possible. Margin has been suspended from 25th Oct, and all positions will be closed by 31st Oct. 

KP3R/USDT 15-Minute Chart

Looking at the crypto daily, we can observe that the price was moving in a channel, and all the EMA’s (9, 20, 50 and 100) were sideways. 

The price fell nearly 50% in the last 6 trading sessions and hit an all-time low today. Considering the channel breakout and all EMA’s crossover we can analyse that KP3R is in sharp selling. 

Sellers should wait for a swing formation in the chart before entering. When the EMA rejects the price, sellers can plan their entry-targeting round levels at $20, $15, and $10.

Risky traders can enter into the selling zone as the crypto is in the news; trailing stop loss can help achieve better returns. 

The post Top Crypto Gainers And Losers: TROY Token +78%, KP3R -10% appeared first on FinanceBrokerage.

Tesla stock crashed upwards last week on the back of a better-than-expected third-quarter earnings report and Hallucinogen from CEO Elon Musk. The opening was praised on Wall Street, with some analysts keeping or upgrading their buy ratings, but the competitive price was seen as a shortcoming of others.

Bank of America has repeated its buy status after increasing the valuation of Tesla from 255 dollars to 265 dollars. Be that as it may, Tesla shares broke through this level in no time, buoying by 269.19 dollars at the end of the day on Friday, which means the company gained by 3.3% during the day and by 22% in the whole week. Furthermore, the high performance of the company’s earnings has compelled BofA to revise its 2024-2026 profit forecasts upwards.

Tesla Stock Soars 22% on Q3 Earnings

It was a positive driven by Musk’s view of Tesla’s natural growth, which will lead to expected production increases in the range of 20%-30% by 2024 and the possibility of adding a new electric vehicle model. Those parts not listed are items from the earnings call that marked advancements in Tesla’s Full Self-Driving (FSD) software, the renewed costs for the 4680 battery, and the accumulated revenue from regulatory credits. Musk additionally mentioned the launch of an autonomous “Cybercab“, which fired as well investor confidence.

On the contrary, some analysts are unsure of the claim. JPMorgan has reissued an underweight rating on Tesla, with a price target of $135, which means that the share is probably going to go down by almost 50%. This difference in opinion mirrors the continuous discussions on Tesla’s valuation, where several hold that the share is overpriced in the market in spite of its sustained growth prospects.

Tesla’s share price has yet to be a matter of consensus among investors; those who consider it a risky investment see the potential for high gains but also the probability of significant losses depending on the company’s performance. The market conditions could also change drastically.

Tesla Stock Chart Analysis

TSLA/USD 15-Minute Chart

During the past week, Tesla’s stock price kept on gaining steam and had one of the most significant rallies. After reaching its trough of $212.11 on October 23, the stock shot up, marking the highest of the week when it was at $269.19 on October 27. This rapid march upward is no other than the market’s encouragement of Tesla’s brilliant Q3 outcome and the optimistic forecasts of the CEO.

After the earnings report came the sudden burst of major momentum on October 25, when Tesla shares kind of exploded from about $220 to beyond $260 in a day. This rally did not even notice several resistance levels, demonstrating the firm mode and high buying interest and notwithstanding the stock a new target recent price of $265 by Bank of America. The subsequent upward approach almost touched the 269.49 level of the share, which showed the market’s approval of such a movement.

Tesla’s Future Outlook: Growth Potential Meets Market Skepticism

In the near future, the possible outcome may be the case that Tesla beats their goals and gains even more. Musk’s presentation for the anticipated 20-30% growth of the production in 2024, as well as boosting from the progress of full self-driving (FSD) and the cost reduction of the 4680 battery, renders the commencement of the production more secure. Moreover, Tesla’s turnover from the regulatory credits is a backup which proves the steady and strong performance of the company.

While there are optimistic people who are confident in the rise of Tesla, this is not a reality for all, and the correction may happen this year. JPMorgan has recently re-trained its position with the target down from $135, stating the high valuation of Tesla as the cause of their anxiety. This case seems to be worsening in the foreseeable future. We will closely monitor whether Tesla can keep the current rally and see through the $270 resistance. Thrust of the market by watching Tesla and joining the carnival.

The post Tesla Stock Jumps 22% After Q3 Earnings appeared first on FinanceBrokerage.

McDonald’s Stock Drops 5% After An E. Coli Outbreak

McDonald’s (MCD) Stock sustained a drop of about -5% following a CDC report which suggested that the Quarter Pounder hamburgers from McDonald’s may have caused an E. coli outbreak in some states, with most cases being in Colorado and Nebraska. The stock consequently plummeted -10% in after-hours trading on Tuesday when the news became known.

The CDC reported that McDonald’s cut the use of fresh slivered onions and quarter-pound beef patties in specific states while they investigated the virus source. Health officials have recorded one hospitalisation and one death across 10 states to date.

“McDonald’s has quickly responded, with North America’s chief supply chain officer, Cesar Piña, saying that the outbreak may be related to slivered onions from a single supplier. However, the company has already taken a decision to stop the distribution of slivered onions in the affected areas. At the same time, local restaurants have been instructed to remove the ingredients from their kitchens to ensure the safety of the public,” Piña explained.

The fast food company will temporarily suspend the Quarter Pounder burger sales in the aforementioned states of Colorado, Utah, Wyoming, Idaho and Nevada. There are no changes to the rest of the items on the menu.

The reaction from investors is very strong with food safety concerns. For this reason, it can also have a damaging effect on a company’s reputation and its financial situation in the long run. However, the problems of the stock have been resolved to a certain extent due to the strategic and effective steps McDonald’s took. Still, the conclusion of the ongoing investigations and the outbreak’s resolution will be the next task that will determine the stock’s trend.

McDonald’s Stock Chart Analysis

MCD/USD 15-Minute Chart

Turning to the McDonald’s (MCD) stock trend, the gaps in the market became more dominant due to the E. coli outbreak associated with the Quarter Pounder burgers. A chart shown, which is quite telling, shows that we went through a sharp bust when the stock, due to strictness of trading regulations, reached a low of $290.88 on October 23, which is very close to the release of the news. Parting from the previous high of $310, the above was a sharp decline indeed, which had mostly remained above $310.

However, in addition to the sharp depreciation, the stock also made a quick recovery, jumping back up to the price of $299 per share. However, it is having trouble breaking through the $300 mark, which indicates that investors are still hesitant.

At present, the stock trades almost flatly between $296 and $299, with prices jumping between these two levels. On the one hand, some investors see the downward price movement as a buying opportunity, but on the other hand, many potential buyers remain reluctant to buy due to the ongoing CDC examination.

Remarks about solving the crisis or officially confirming that the infection is being contained could result in a stock bounce. Conversely, if we find out more negative news, we will be under even more pressure to sell. We will need to pay the most attention to the developing situation as it becomes clear.

If you are thinking of investing in McDonald’s (MCD), it’s best to follow the stock market situation. After a rapid decline, the stock has stopped fluctuating, and this could be a good time to buy after better news.

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