2024

Elon Musk

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<p class="has-drop-cap">Three stocks are making significant moves in today’s trading session. Tesla (<a href="https://tokenist.com/investing/how-to-buy-stocks/" rel="noopener noreferrer nofollow" class="deco-link">NASDAQ: TLSA</a>), General Motors (<a href="https://tokenist.com/investing/how-to-buy-shares-online/" class="deco-link" rel="noopener noreferrer nofollow">NYSE: GM</a>), and AMC Entertainment (<a href="https://tokenist.com/investing/how-to-invest-in-stocks/" class="deco-link" rel="noopener noreferrer nofollow">NYSE: AMC</a>) each recently reported data and results that sparked considerable market reaction.</p>
<p>These companies’ latest financial results have led to notable shifts in their stock prices, with Tesla and AMC seeing <a href="https://tokenist.com/tesla-and-alphabet-shares-slide-post-q2-earnings-heres-why/" rel="noopener noreferrer nofollow" class="deco-link">substantial declines</a>. At the same time, General Motors experienced a more modest dip despite beating earnings expectations.</p>
<h3 id="tesla-shares-plummet-after-second-quarter-earnings">Tesla Shares Plummet After Second-Quarter Earnings</h3>
<p>Tesla (TSLA) shares plummeted 11.80% to $217.31 following the release of its second-quarter earnings report for 2024. The electric vehicle manufacturer missed expectations, with automotive revenue declining 7% year-over-year to $19.9 billion. <br><br>Despite beating revenue forecasts with $47.9 billion against an expected $45 billion, Tesla’s adjusted earnings margin fell.</p>
<p>CEO Elon Musk attempted to reassure investors by announcing plans for a new “affordable” car in early 2025 and expressing confidence in the company’s <a href="https://tokenist.com/what-teslas-robotaxi-could-mean-for-its-stock-price/" rel="noopener noreferrer nofollow" class="deco-link">robotaxi ambitions</a>. However, the stock’s decline reflects growing concerns about increased competition and the company’s aging vehicle lineup.</p>
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<h3 id="gm-faces-headwinds-despite-strong-q2-performance">GM Faces Headwinds Despite Strong Q2 Performance</h3>
<p>General Motors (GM) reported strong second-quarter earnings for 2024 yesterday, with net income rising 15% year-over-year to $2.92 billion.</p>
<p>The company beat expectations with earnings per share of $3.06 against an anticipated $2.71. Despite these positive results, GM’s stock fell 0.99% to $45.92 as investors <a href="https://www.mbtmag.com/operations/news/22915787/very-strong-quarter-at-general-motors-overshadowed-by-potential-headwinds-for-industry" target="_blank" aria-label="focused on headwinds (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">focused on headwinds</a> facing the company. These challenges include slowing sales and rising competition in China, where Q2 revenue from its joint venture dropped to $4.7 billion from $9.6 billion in Q4 2023.</p>
<p>GM also took a $600 million charge for its Cruise autonomous vehicle unit and announced delays in some EV projects, signaling potential hurdles in the rapidly evolving automotive landscape.</p>
<h3 id="amc-releases-q2-preliminary-results-stock-takes-a-hit">AMC Releases Q2 Preliminary Results, Stock Takes a Hit</h3>
<p>AMC Entertainment (AMC) released preliminary second-quarter results for 2024, revealing weaker performance compared to the same period in 2023.</p>
<p>The theater chain reported total revenues of approximately $1.03 billion, down from $1.35 billion in Q2 2023, and a net loss of about $32.8 million compared to net earnings of $8.6 million in the previous year. AMC attributed the decline to fewer movie releases in early 2024 due to the 2023 actors’ and writers’ strikes.</p>
<p>Despite these challenges, CEO Adam Aron highlighted a significant revenue increase in June and expressed optimism for the second half of 2024 and beyond. The stock was down over 6% at the time of writing to $4.77 as investors digested the mixed news and recent debt restructuring announcements.</p>
<p>As of 11:16 AM EDT on the day of reporting, these stocks continued to experience volatility in response to their earnings reports and forward-looking statements.</p>
<p>Tesla’s market capitalization stood at $692.82 billion with a <a href="https://tokenist.com/investing/p-e-ratio/" rel="noopener noreferrer nofollow" class="deco-link">forward P/E ratio</a> of 99.01, reflecting high growth expectations despite recent challenges. General Motors, with a market cap of $52.36 billion and a more modest forward P/E of 4.88, appeared to offer value to investors willing to weather near-term headwinds. <br><br>AMC Entertainment, sporting a <a href="https://tokenist.com/investing/how-the-stock-market-works/" rel="noopener noreferrer nofollow" class="deco-link">market cap</a> of $1.73 billion and negative earnings, continued to face significant challenges in its recovery from pandemic-related disruptions and changes in consumer behavior.</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-general-motors-tesla-and-amc/">Stocks to Watch Today: General Motors, Tesla, and AMC</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: General Motors, Tesla, and AMC

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