It was a muted day in the market, with stocks opening higher, trading sideways, and closing at a new marginal high. Investors are adjusting their portfolios for what could be a volatile fourth quarter. 👀

Today's issue covers Tesla stock turning on the turbo, Uxin Ltd. unleashing on shorts, and regulators targeting Exxon in a “first-of-its-kind” case. 📰

Here’s the S&P 500 heatmap. 7 of 11 sectors closed green, with consumer discretionary (+1.01%) leading and healthcare (-0.57%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $UXIN, $ASMB, $CTOR, $ORC, $LFLY 📉 $THO, $MNSO, $FUBO, $AIR, $CHRS*

*If you’re a business and want to access this data via our API, email us.

Barclays is the latest Tesla bull on Wall Street, with analyst Daniel Levy telling investors that he expects deliveries to be higher than the consensus estimate. He’s anticipating 470,000 electric vehicle (EV) deliveries during the third quarter, representing an 8% YoY jump based on an uptick in China sales. 🔺

After being down more than 40% year-to-date, the stock’s recent rebound has pushed it back into positive territory.

Notably, technical analysts are excited about it clearing the long-term downtrend line that’s kept a lid on prices since late 2021. And the Stocktwits community believes the momentum can continue into the October 10th Robotaxi event, with sentiment in ‘bullish’ territory. 🐂

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It was a sparse day of earnings, but this small-cap specialty retailer's latest results sent it soaring more than 50%.

The company operates an e-commerce platform for buying and selling used cars and posted a narrower-than-expected loss on improving transaction volumes, as the overall used car market shows signs of recovery. 📊

Although the average selling price of retail vehicles sold fell 29% YoY, management expects to make up for it in volume and is eying retail transaction volumes of 5,800 to 6,000 units. That would be a 40% QoQ increase and help the company push toward positive adjusted EBITDA.

Shares rose 56% to four-month highs, with Stocktwits sentiment pushing into ‘extremely bullish’ territory as traders bet on continued upside momentum. Others simply looked at this as a positive sign of the Chinese auto market, which has struggled as its economy trudges along. 🥲

And speaking of China, we’ve been referencing the Stocktwits community betting on a rebound in its stock market and major names for months now. While they’ve been quietly rebounding, Alibaba rising to new year-to-date highs today brought more attention and momentum to the space. 🧐

While ExxonMobil’s investors are focused primarily on oil and natural gas prices to determine the stock’s direction, California’s regulators are targeting a different aspect of the energy giant.

The California Attorney General has filed a lawsuit against the company, alleging it carried out a “decades-long campaign of deception” in which it misled the public about the merits of plastics recycling. 🫨

Regulators seek to make ExxonMobil “end its deceptive practices that threaten the environment and the public.” In other words, it wants the company to admit that plastic recycling will not solve the plastic waste and pollution crisis and to stop perpetuating the “myth” of recycling efficacy.

The company pushed back on California, blaming its ineffective recycling system, which officials have failed to address for decades. 🫵

Nonetheless, the Department of Justice has been investigating the role of fossil fuel and petrochemical companies in the global plastics waste crisis for more than two years, with the probe uncovering some damning evidence.

What makes this case unique is that this is the first time regulators have taken on a fossil fuel company for its messaging around plastic recycling. Typically, suits against these companies are more directly related to their core products and role in climate change or air pollution. 🧑‍⚖️

Still, ExxonMobil remains the world’s second-largest oil and gas company by market value, shares continue to trade near all-time highs, and Stocktwits sentiment is ‘neutral.’ Clearly, investors don’t believe this is a meaningful threat to profitability yet, but this high-profile case could change that. 🤷

Stocktoberfest is back with an intimate event for executives, influencers, and the most active investors in financial markets on October 20-22. 🤝

Network with industry thought leaders like Howard Lindzon, Michael Batnick, Brian Shannon, Michael Parekh, and many more during the 2-day palooza.

Less than 20 tickets remain, so grab your seat now, and we'll see you in beautiful Coronado, CA! 😎

Economic data: Australia Interest Rate Decision (12:30 am ET), S&P/Case-Shiller Home Prices (9:00 am ET), CB Consumer Confidence (10:00 am ET), and Richmond Fed Manufacturing Index (10:00 am ET). 📊

Pre-Market Earnings: Altamira Therapeutics ($CYTO), AutoZone ($AZO), and Thor Industries ($THOR). 🛏️

After-Hour Earnings: Stich Fix ($SFIX), KB Home ($KBH), Progress Software ($PRGS), and Worthington Enterprises ($WOR). 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

🧭 Concerned about election season volatility? Let IBD Digital be your guide—get 2 months for $12*

☢️ World’s top banks back nuclear energy

🚫 US proposes ban on smart cars with Chinese and Russian tech

📎 Marc Benioff blasts Microsoft’s Copilot AI tool as the next ‘Clippy’

🏬 One of America’s most iconic retail chains, Kmart, set to close last full-size store in US

👩‍💼 FTC trustbuster Lina Khan: feared in boardrooms, cheered on by progressives — and even some MAGA Republicans

🤩 Chart Art: The best trade ideas and analysis from the Stocktwits community

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