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Weekly Recap: $TSLA, $UBER and $BA

If there was one word to describe the market in the last year, it would be “volatile.”  In a time of trade wars, tariffs, IPOs and so much more, only one thing is certain: we’re living through stock history in real time. 

To help keep track of all the sea change on Wall Street, we’ve started a weekly roundup of what stocks are seeing the most growth, which are waning, and which are in deep trouble. 


The Good:

Tesla

Tesla doubters beware: the stock is on a tear of late, up over 6% today, planted comfortably back above 380.  The reason?  Even some of the preeminent Tesla bears are starting to give the electric vehicle trailblazer credit.  Take, for example, Credit Suisse, who has one of the lower Tesla ratings on Wall Street, with a rating of 200, a 44% drop from the 360 mark the company was at yesterday. But a recent visit to the Tesla Gigafactory in Nevada alleviated their anxieties.  Credit Suisse left Nevada with a belief that Tesla’s battery production puts it at the forefront of electric vehicle creation.  Whether this inspires Credit Suisse to rethink its stance on Tesla as a whole remains to be seen, but the tone of the note was highly complimentary


The Bad:

Uber

The former Uber CEO Travis Kalanick seems to have little faith in the company he was ousted from.  The one-time ride sharing maverick sold another $166 million in stock, putting his total cash out at above $2 billion.  With Kalanick putting his money into other ventures, it seems the one-time CEO thinks his money will go further outside of Uber.  Additionally, Uber stock jumped today as it announced a sale of its Indian Uber Eats wing, which was reportedly a costly affair.  While this is good in the short term for the stock, Uber is still finding its path towards profitability, Uber Eats is often viewed as one of its best moneymakers.  With India a burgeoning market, this could go either way in the long term. 


The Ugly:

Boeing

The bad at Boeing related to the 737 MAX catastrophe is about to get a lot worse.  With rumors flying that the 737 MAX, grounded since March of 2019, might be scrapped entirely, Boeing stock has taken a major hit today.  This comes after the FAA confirmed that the 737 MAX would not see the air in 2019, ending Boeing’s hopes for a faster calendar.  American Airlines recently removed all 737 MAX flights from its schedule until April, and some speculate that other airlines will follow

 

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