Fast & Furious Earnings Season: Have The Tuna, No Crust.
“I live my life a quarter mile at a time.” – Dom Toretto | The Fast and The Furious (2001)
It’s earnings season and the reports are flying fast and furious all around this week. So are the stocks. I’ve never seen a Fast & Furious movie. I tend to live my life, like, a hundred miles at a time, right now. Also, I’ve only seen like one of the Avenger movies. I digress.
Nobody’s got the guts to give guidance. Makes sense, but can the stock market continue to look past the many unknowns here? Tesla’s report was shockingly good. But the stock faded as the day went on, partly because a hedge fund manager went on TV and said Tesla’s a fraud. Again. Here is the same guy with the same complaint about accounting last year, April 2019, before the stock went up 300% in 365 days. Someone needs to define “brink” I guess.
The shorts believe Tesla and Elon have managed to keep their supposed fraud growing despite EVERY shortseller and wannabe forensic hedge fund manager and reporter on the planet combing over, writing about, reporting on the supposed fraud this whole time. I guess it’s possible. Today is my Teslaversary, as we took delivery of our Model 3, which I’d ordered to help me decide whether to buy TSLA stock, exactly one year ago today. I still love the car as much as I did the first day and TSLA is still my largest position.
Apple’s report, not good, but maybe not as dire as people expected? Amazon too, as they have to invest big to capture more growth here. Google and FB on the other hand, were “better than good enough” apparently. Be patient. I think we’ll have some great pitches coming soon enough, but I’m mostly keeping my bat on my shoulder right now. Or to quote what some site says is the second best quote from the entire Fast & Furious series, for now “I’ll have the tuna. No crust.”
We’ll do this week’s Live Q&A Chat at noon ET tomorrow (Friday). This time over Zoom Video:
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Meeting ID: 890 7643 5567
Password: 449982
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