We try to avoid "plummeted" unless referring to 50% stock declines or plane crashes but to each his own.
From Yahoo Finance, April 20:
Tesla stock plummeted in pre-market trading on Thursday, falling more than 7% as the electric-vehicle maker reported gross margins below 20% for the first time in nearly three years.
The margin pressure comes after Tesla cut prices six times since the start of year in an attempt to reinvigorate demand.
“It’s difficult to say what the margin will be,” Tesla CEO Elon Musk said on the company's earnings call.
Tesla reported first quarter revenue of $23.33 billion, slightly below Street estimates of $23.35 billion, with adjusted earnings per share coming in at $0.85, below Street estimates of $0.86. As price cuts weighed on profits, Tesla reported net income of $2.9 billion, one billion less than the previous quarter and $700 million less than the same period a year prior.
In reaction to Wednesday's report, several Wall Street analysts have slashed their price targets on the stock, which had rallied more than 45% to start the year. While still bullish on the stock and maintaining a Buy rating, Jefferies cut its price target to $230 from $250, citing the company's shrinking margins as a primary concern.
"Q1 did not give great confidence on price elasticity or a gross margin floor given priority on volume over near term profitability," Jefferies wrote in a note to clients....
....MUCH MORE
In regular trade the stock is down $12.90 ( -7.15%) at $167.68.
However, for those that insist on catastrophizing,
kottke.org guides us to:
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Free FallThe Free Fall Research Page |
Unplanned Freefall? Some Survival Tips
Admit it: You want to be the sole survivor of an airline disaster. You aren't looking for a disaster to happen, but if it does, you see yourself coming through it. I'm here to tell you that you're not out of touch with reality—you can do it. Sure, you'll take a few hits, and I'm not saying there won't be some sweaty flashbacks later on, but you'll make it. You'll sit up in your hospital bed and meet the press. Refreshingly, you will keep God out of your public comments, knowing that it's unfair to sing His praises when all of your dead fellow-passengers have no platform from which to offer an alternative view.
Let's say your jet blows apart at 35,000 feet. You exit the aircraft, and you begin to descend independently. Now what?
First of all, you're starting off a full mile higher than Everest, so after a few gulps of disappointing air you're going to black out. This is not a bad thing. If you have ever tried to keep your head when all about you are losing theirs, you know what I mean. This brief respite from the ambient fear and chaos will come to an end when you wake up at about 15,000 feet. Here begins the final phase of your descent, which will last about a minute. It is a time of planning and preparation. Look around you. What equipment is available? None? Are you sure? Look carefully. Perhaps a shipment of packed parachutes was in the cargo hold, and the blast opened the box and scattered them. One of these just might be within reach. Grab it, put it on, and hit the silk. You're sitting pretty.
Other items can be helpful as well. Let nature be your guide. See how yon maple seed gently wafts to earth on gossamer wings. Look around for a proportionate personal vehicle—some large, flat, aerodynamically suitable piece of wreckage. Mount it and ride, cowboy! Remember: molecules are your friends. You want a bunch of surface-area molecules hitting a bunch of atmospheric molecules in order to reduce your rate of acceleration.
As you fall, you're going to realize that your previous visualization of this experience has been off the mark. You have seen yourself as a loose, free body, and you've imagined yourself in the belly-down, limbs-out position (good: you remembered the molecules). But, pray tell, who unstrapped your seat belt? You could very well be riding your seat (or it could be riding you; if so, straighten up and fly right!); you might still be connected to an entire row of seats or to a row and some of the attached cabin structure.
If thus connected, you have some questions to address. Is your new conveyance air-worthy? If your entire row is intact and the seats are occupied, is the passenger next to you now going to feel free to break the code of silence your body language enjoined upon him at takeoff? If you choose to go it alone, simply unclasp your seat belt and drift free. Resist the common impulse to use the wreckage fragment as a "jumping-off point" to reduce your plunge-rate, not because you will thereby worsen the chances of those you leave behind (who are they kidding? they're goners!), but just because the effect of your puny jump is so small compared with the alarming Newtonian forces at work....MUCH MORE
