NEWS
Stocks Stir Amid Fundamental Blur

It was another mixed day for U.S. stocks, with Chinese names remaining the core focus for traders looking for quick moves to the upside. Elsewhere, the attention is shifting to fundamentals as earnings and other company-related news drive the latest moves. 👀

Today's issue covers Tesla’s delivery miss, why Humana is getting hammered, Levi’s looking to sell the Dockers brand, and an under-the-radar tax software stock making new highs. 📰

Here’s the S&P 500 heatmap. 4 of 11 sectors closed green, with energy (+1.02%) leading and consumer discretionary (-0.85%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $HKD, $TIGR, $JOBY, $MTC, $XAIR 📉 $LEVI, $API, $NTLA, $LCID, $ETSY*

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

COMPANY NEWS
Tesla Sinks After Missing Delivery Estimate 🪫

Tesla shares were turned away from their year-to-date (YTD) highs after the electric vehicle (EV) maker reported its third-quarter vehicle numbers.

Deliveries of 462,890 fell short of the 463,310 expected by analysts, while production of 469,796 potentially indicated weak demand as the company produced more than it could sell. 😐

The numbers show that Tesla is continuing to face competitive pressure, especially in China, where BYD, Geely, Li Auto, and Nio are aggressively pursuing consumers in the region. In the U.S., competitors like Rivian are furthering their progress, while Ford and General Motors are taking a scaled-back but more effective approach to the EV market.

While Tesla hadn’t issued specific guidance for 2024 deliveries, management did say it expects a lower delivery growth rate compared to last year, as high interest rates and economic uncertainty continue to pressure overall EV demand. 📉

Tesla shares stabilized intraday, but the Stocktwits community remains ‘bearish’ on the stock despite its recent comeback. All eyes now turn to the RoboTaxi event on October 10th and earnings on October 23rd. 🧸