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NEWS
🌎️ Market Green For Earth Day, And No One Cares Tesla Missed

The market climbed on Earth Day in the lead up to Tesla’s earnings miss, hearing positive news from Treasury Secretary Scott Bessent that China tariffs would have to come down soon. In the after-market earnings call, Tesla Chief Elon Musk said he expects to sell self-driving cars in Austin in June, turn a profit on the venture before the end of next year, and build 1 million robots a year by the ‘30s.

President Trump said he had “no intention” of firing Fed Chair Jerome Powell. Gold hit fresh highs again, and Bitcoin broke back through $90k with the swearing in of a pro-crypto SEC head.

Today's issue covers Tesla’s miss despite Musk’s dreams, Gold and Bitcoin won’t quit, and more. 📰

Here’s the S&P 500 heatmap. All sectors closed green, with consumer discretionary (+5.71%) leading and real estate (0.81%) lagging.

And here are the closing prices: 

STOCKS
Does Anyone Care About Tesla Earnings Anymore 😿 

Tesla reported Q1 EPS of $0.12 on revenue of $19.34B, way below estimates. The stock was up nearly 5% in the lead-up to the results, and climbed a further 3% after Musk started speaking on the earnings call. The firm said tariffs will hurt its energy business, and it will likely change its 2025 guidance in the second quarter. The firm said its profit fell 71% in Q1. 💣️ 

On the call, Musk said he expects to sell fully autonomous rides in June in Austin and expects to become profitable on self-driving in the second half of next year.

"Lift your eyes to the citadel on the hill,” Musk said. "Starting next month, my time allocation to DOGE will drop significantly.”

Musk said that after May, he will continue to spend a day or two a week on government projects. He believes Tesla will be the most valuable company in the world by far, worth more than the next five firms combined. With Tuesday’s closing valuations, that puts Tesla at a target of nearly $12T in an unknown timeframe.

He said by 2030, Tesla will build one million Optimus robots a year. 🤖 

Meanwhile, Tesla became the most profitable stock short in the world, according to S3 Partners.

Analysts were looking for earnings per share of $0.34, or $0.44 adjusted from $0.45 a year earlier, and a revenue increase to $21.43 billion, according to Bloomberg. The firm also missed adjusted forecasts, posting $0.27/share, or 30% lower.

Long-term Tesla investor Ross Gerber, Gerber Kawalkski Wealth Management Co-Founder, told Bloomberg that investors need to ask themselves when they can see the Tesla AI self-driving car future actually come to pass.

“Right now, the firm is a little above break even,” He said. He wants Tesla Chief Musk to Get off his “butt” and go back to work at Tesla, and start selling the software the firm has prioritized as the future, because it is not making money selling cars.

Even state treasuries, the managers of huge pension funds, wrote a letter to Tesla today in anger over the firm’s mismanagement.

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