July 22, 2020

Elon, Back At It Again.

Father Elon Musk has done it again.

Despite a global pandemic and an expected economic recession, Tesla did it--they beat earnings estimates. Maybe it’s from selling those short shorts (that we’re totally not wearing while writing this), or maybe the company’s got something going with it’s 4 straight profitable quarters. 

After all, Tesla is planning on adding the highly anticipated Cyber truck and Roadster along with the addition of the Model Y earlier this year to help boost sales. With Tesla now making vehicles of all stature, we at EVO believe there will be a large shakeup in the market for mid size vehicles.

But before any of that, we just can’t wait for the $TSLA stock to hit $4200.69, because we think it would be hilarious.  

#StocksOnlyGoUp

The Spy Is Flying High

Yesterday, $SPY broke through the $320 resistance. Investors have bought in pushing the index to a 5 month high.

Now investors will watch and see if SPY can break its previous high of $330.

Micro... Soft Earnings

Wow, did Microsoft (NASDAQ: MSFT) kill earnings?

Blowing past all Q4 expectations, the company brought in more revenue from Cloud, PC, and Business Process than the street was hoping for.

The big question then becomes why the hell is it trading down after hours? Is this maybe based on sentiment that the company’s YTD 30% run up was never justified to begin with? Or is it possible that we’ll see share price rally in the morning?

Either way, we can promise that the EVO analysts are looking for a way to capitalize on it.

Pfizer Gets $1.95 Billion

You ever wish you could get paid $1.95 billion for something you might not have? Well, if you’re Pfizer (NYSE: PFE) or BioNTech (NASDAQ: BNTX), you just did.

That’s right, the US government is dishing out a fat wad of cash to the companies for 100 million doses of the fabled coronavirus vaccine, with the option to acquire 500 million more.

Of course, shares of both companies are trading up about 4% after hours, and there’s always a decent chance that they run again tomorrow.

Chipotle Dips And It's Not Guacamole

Much like MSFT, shares of Chipotle Mexican Grill (NYSE: CMG) are trading down after earnings. The reason for the markets haste in selling here is a little bit more clear, though.

Despite digital sales running through the roof, (NYSE: CMG) is losing dine in sales faster than it can get them back online. The company did have some pretty nice online ordering infrastructure to begin with, but, just as it is with every other company, the virus is testing if Chipotle really is robust enough to whether the storm and adapt to the coming changes.

Only time will tell for certain, but, right now, based on after hours prices, the street doesn’t seem to be to confident.

Vegas Furlough

When Circus Circus announcing the termination of a number of employees at their hotel casino in Vegas and Wynn (NASDAQ: WYNN) announcing the furloughing of workers, we were kind of surprised that these people still had jobs to begin with. 

It’s no secret that the virus will dramatically change the world we live in, but these moves could be indicative that the changes might happen in ways we weren’t expecting.

Back in March, the EVO analysts were hoping they could blow all of the money they made on puts by heading off on a weekend trip to Vegas when everything opened back up in a couple months.

Well, it’s been more than a couple months, and we’re not really sure when Sin City will start sinning again.