GameStop

Elon Musk

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<p class="has-drop-cap">As the stock market continues to show volatility today, three companies are capturing investors’ attention due to significant news and price movements. Tesla (<a href="https://tokenist.com/investing/how-to-buy-stocks/" rel="noopener noreferrer nofollow" class="deco-link">NASDAQ: TSLA</a>), Chewy Inc (<a href="https://tokenist.com/investing/stock-trading-guide/" class="deco-link" rel="noopener noreferrer nofollow">NYSE: CHWY</a>), and Walgreens Boots Alliance (<a href="https://tokenist.com/investing/how-to-buy-shares-online/" class="deco-link" rel="noopener noreferrer nofollow">NYSE: WBA</a>) are all experiencing notable shifts in their stock prices and facing key developments that could impact their future performance.</p>
<h3 id="tesla-stock-gains-ahead-of-q2-vehicle-deliveries-report">Tesla Stock Gains Ahead of Q2 Vehicle Deliveries Report</h3>
<p>Tesla’s stock is surging today, up 6.51% to $210.76, as investors eagerly await the company’s Q2 global vehicle deliveries report, set to be released on Tuesday, July 2, 2024. <br><br>Despite the current rally, Tesla’s year-to-date return remains negative at -15.10%. Analysts are predicting Q2 deliveries of around 436,000 vehicles, representing a 6.5% decrease from Q2 2023 but a 13% increase from Q1 2024. Some analysts are even more conservative, forecasting deliveries in the 410,000-425,000 range.</p>
<p>Beyond vehicle deliveries, investors are also focusing on Tesla’s energy storage business. The company deployed a record 4,053 MWh of energy storage in Q1 2024, with CEO Elon Musk projecting 200-300% year-over-year growth in this segment. Additionally, Tesla <a href="https://edition.cnn.com/2024/04/05/business/elon-musk-tesla-robotaxi-august-8/index.html" target="_blank" aria-label="plans to unveil its &quot;robotaxi&quot; on August 8 (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">plans to unveil its “robotaxi” on August 8</a>, 2024, which is seen as a potential catalyst for future growth.</p>
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<h3 id="chewy-inc-stock-becomes-volatile-after-gamestop-short-squeeze-trader-announces-massive-stake">Chewy Inc Stock Becomes Volatile After GameStop Short Squeeze Trader Announces Massive Stake</h3>
<p>Chewy’s stock experienced significant <a href="https://tokenist.com/investing/what-is-beta-in-stocks/" rel="noopener noreferrer nofollow" class="deco-link">volatility</a> today following news that Keith Gill, known as “Roaring Kitty” from the 2021 GameStop meme stock rally, has disclosed a <a href="https://tokenist.com/gamestop-trader-keith-gill-announces-6-6-stake-in-chewy-shares-dip/" rel="noopener noreferrer nofollow" class="deco-link">6.6% stake in the company</a>. <br><br>The stock initially surged 15% in <a href="https://tokenist.com/investing/how-to-trade-after-hours/" class="deco-link" rel="noopener noreferrer nofollow">premarket trading</a> but has since reversed those gains, currently trading down 6.15% at $25.57. Gill’s stake, worth about $245 million, makes him the third-largest shareholder in Chewy.</p>
<p>Despite today’s downturn, Chewy’s year-to-date return remains positive at 8.19%. The online pet food and medicine retailer, founded by current GameStop CEO Ryan Cohen, has maintained stable sales despite weaker overall consumer spending. However, the company’s <a href="https://tokenist.com/investing/p-e-ratio/" rel="noopener noreferrer nofollow" class="deco-link">P/E ratio</a> of 143.37 and negative 5-year return of -26.96% highlight the challenges it faces in a competitive e-commerce landscape.</p>
<h3 id="walgreens-boots-alliance-slides-after-boots-ceo-quits">Walgreens Boots Alliance Slides After Boots CEO Quits</h3>
<p>Walgreens Boots Alliance stock is down 4.18% today to $11.59, continuing a troubling trend for the company. WBA’s year-to-date return stands at -54.48%, with a staggering 5-year return of -73.13%. The company recently missed Q3 earnings expectations and has been under pressure due to a weak outlook.</p>
<p>Adding to investor concerns, Boots CEO Sebastian James announced he would <a href="https://www.independent.co.uk/business/boots-sebastian-james-quit-ceo-b2571779.html" target="_blank" aria-label=" (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">leave the company in November 2024</a> after six years in the role. <br><br>This news comes as WBA has decided against selling or floating Boots for the second time in two years. Despite these challenges, under James’ leadership, Boots’ market share has grown for 13 successive quarters, with recent results showing total UK sales growth of 1.6% and comparable retail sales growth of 6%.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/stocks-to-watch-today-tesla-chewy-and-walgreens-boots-alliance/">Stocks to Watch Today: Tesla, Chewy, and Walgreens Boots Alliance</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: Tesla, Chewy, and Walgreens Boots Alliance

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