Musk sends Tesla to the dip
Plus, Coupa takes the plunge amid acquisition spree & Alibaba goes on a deep dive
Tesla shares fell more than 5% and also struggled to scale-up production of its new battery cells.
Why it matters: Tesla (TSLA) shares are lower again thanks to a controversial tweet by the company’s CEO, Elon Musk. He tweeted that Tesla and SpaceX were under “significant recent inflation pressure in raw materials and logistics,” adding in a subsequent tweet, “and we are not alone.” Though raw materials inflation isn’t a big shock, the CEO’s comment is having investors think about its 2022 profit margins. (Barrons)
Coupa takes the plunge amid acquisition spree
The spending-management company’s shares have fallen more than 30% after the company issued revenue forecasts for its first-quarter - which were below analysts’ expectations.
Why it matters: Despite being on an acquisition spree since 2018, analysts were disappointed by the weak guidance the company provided. Coupa (COUP) expects first-quarter adjusted earnings of 3 cents to 6 cents a share on revenue of $189 million to $191 million but analysts had been expecting earnings of 5 cents a share on revenue of $196million. (Barrons)
Alibaba goes on a deep dive
Shares in the e-commerce giant are getting battered again.
Why it matters: Alibaba (BABA) investors are used to pain but this time, they will need more absorbers. The e-commerce stock has tumbled 27% in four days, which is down more than 35% this year. Investors fear that the Chinese stock might face U.S. delisting because of Chinese support to Russia. With how Russia and Hong-Kong stocks have recently performed, it’s hard to maintain optimism. (Barrons)
That’s it from us today,
See you tomorrow.