On CNBC’s “Halftime Report Final Trades,” Stephen Weiss of Short Hills Capital Partners revealed that he is short on Tesla, Inc.
The electric vehicle manufacturer’s shares tumbled over 12% on Thursday. Tesla, based in Austin, Texas, reported disappointing financial results, with fourth-quarter revenue of $25.17 billion—up 3% year-over-year.
The revenue missed a Street consensus estimate of $25.62 billion, as reported by Benzinga Pro. The company’s earnings per share of 71 cents also fell short of the Street consensus estimate of 74 cents per share.
Meanwhile, Bill Baruch of Blue Line Futures named Southern Copper Corporation as his final trade.
On Nov. 27, Morgan Stanley analyst Carlos De Alba downgraded Southern Copper from Equal-Weight to Underweight and lowered the price target from $83 to $68.
Joshua Brown of Ritholtz Wealth Management selected Uber Technologies, Inc. as his final trade, as the ride-sharing company reached a new all-time high on Thursday.
Uber has entered the arena of federal marijuana lobbying, as reported by Marijuana Moment, showing interest in the Secure and Fair Enforcement Regulation (SAFER) Banking Act. This marks Uber’s first venture into federal marijuana advocacy. The banking reform proposal, if passed, would protect financial institutions working with state-licensed cannabis businesses from federal repercussions.
However, on Wednesday, Gordon Haskett analyst Robert Mollins downgraded Uber Technologies from Buy to Hold, announcing a $66 price target.
Price Performance
- Tesla shares plummeted 12.1% to close at $182.63.
- Southern Copper shares surged 0.7% to close at $83.82 on Thursday.
- Uber shares gained 3.5% to settle at $66.00 during Thursday’s session.
The data reveals Tesla’s downturn, Southern Copper’s rise, and Uber’s surprising foray into marijuana advocacy. Amidst these market fluctuations, investors are closely monitoring the implications for their portfolios.
Note: Always conduct thorough research and consult with financial experts before making investment decisions.
