As we approach the weekend, we're rewinding the tape to highlight some of the pivotal moments and insights from this week's crypto and stock market trading. From the dynamic world of blockchain to the bustling avenues of the stock market, we ensure you're well-informed. Be sure not to skip our "Video of the Week" segment, where we spotlight one of our standout videos. Additionally, we distil the week's most crucial headlines for you and provide a glimpse into the key topics set to shape the week ahead.
Bitcoin rallies past $30,000 on false news. On Monday, October 17, 2023, Cointelegraph, a popular cryptocurrency news website, published an article claiming that the US Securities and Exchange Commission (SEC) had approved a Bitcoin spot ETF. This news caused a surge in the price of Bitcoin, which briefly rose above $30,000. However, it was soon revealed that the news was false. The SEC had not approved any Bitcoin spot ETFs, and Cointelegraph issued a correction and apology. The false news report highlights the importance of verifying information before making investment decisions. Investors should always be wary of news that seems too good to be true, and they should always do their own research before investing in any cryptocurrency.
Video of the week: Introducing our Video of the Week! Dive deep into the latest TRB price movements and forecasts. TRB is a coin that's buzzing among MCO subscribers. We'll unravel the recent price shifts, key support and resistance zones, and the potential for an upward extension. Plus, Ben discusses a possible trading strategy for this coin. Stay informed and trade smart.
Tesla released its earnings report for the third quarter of 2023 on Wednesday, October 18, 2023. The company reported revenue of $24.9 billion and earnings per share of $0.64. This was below analyst expectations, who had expected revenue of $25.1 billion and earnings per share of $0.75.
The earnings report was disappointing to investors, and Tesla's stock price fell by 10% in after-hours trading. The stock price continued to fall on Thursday, October 19, 2023, closing down 15% for the day.
The main reason for the disappointing earnings report was a decline in vehicle deliveries. Tesla delivered 705,000 vehicles in the third quarter of 2023, which was below analyst expectations of 710,000 vehicles. The decline in deliveries was due to a number of factors, including supply chain disruptions and production problems at Tesla's new Gigafactory in Texas.
Despite the disappointing earnings report, Tesla's CEO Elon Musk remained optimistic. Musk said that Tesla is on track to produce 2 million vehicles in 2023 and that the company is expected to be profitable in the fourth quarter of 2023.
Video of the week: Curious about Tesla's stock trajectory? Dive into our latest technical analysis exploring resistance levels, Elliott Wave counts, and two bullish scenarios that could shape Tesla's future! Find out if now is the time to buy or hold.
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Tweet of the week:
Utilizing stop losses is more than just a protective measure; it's a calculated strategy ensuring your presence in the trading game for days to come. A trader's self-awareness—understanding one's approach to the market and recognizing one's risk tolerance—is instrumental. After all, safeguarding your investments isn't just a good practice; it's an essential priority.
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