This week, a number of stocks caught investors’ attention with substantial price movements. A couple have made big moves on Friday. Here are Investing.com’s stocks of the week:
Tesla (NASDAQ:TSLA)
On Friday, Tesla shares tumbled following its “Robotaxi Day.” While there was a lot of hype leading up to the event, analysts have seemingly come away disappointed in the lack of details provided by Musk and the company.
Morgan Stanley analysts said in a note that there was a “disappointing” lack of detail. “We were overall disappointed with the substance and detail of the presentation. As such, we anticipate TSLA to be under pressure following the event,” added the bank.
Oppenheimer analysts said Tesla’s event “proved essentially a product release party with limited detail on its software and compute platform and its intended business model outside of vehicle sales.” They also noted there was no update on its low-cost vehicle production plans nor a demonstration of robotaxi or humanoid functionality in challenging conditions.
At the time of writing on Friday, Tesla shares are down over 10% in the last week.
SMCI
SMCI shares staged somewhat of a recovery over the past week, climbing around 12%. On Monday, the stock gained more than 15% from last week’s close after the company said it is currently shipping more than 100,000 graphics processors per quarter.
SMCI also revealed a new suite of liquid cooling products, sending the company’s shares up following a recent slump.
On Tuesday, SMCI also announced the launch of a “new, versatile, high-density infrastructure platform optimized for AI inferencing at the network edge,” while on Thursday, it announced the launch of a new series of servers, GPU-accelerated systems, and storage servers.
China Stocks
The recent financial stimulus measures announced by China triggered a shortlived bounce for equities in the country as Chinese stocks fell this week. Traders now seem to be hoping the Beijing government announces new measures this weekend.
In a note this week, analysts at MRB Partners said China’s earnings outlook still remained muted, and it was too soon to upgrade local stocks.
China’s recent rally was driven chiefly by “unrealistic expectations” of government stimulus said the firm. They believe that while the country’s economic outlook was positive, it did not extend into corporate earnings.
Furthermore, MRB said any upgrades to Chinese stocks are “predicated on a broad-based earnings recovery” and that “no evidence for such a recovery is yet apparent.”
Microstrategy (NASDAQ:MSTR)
Microstrategy shares surged this week, rising around 23%. Much of that move came on Friday, with MSTR up more than 12% after the company said it plans to become a Bitcoin bank.
Michael Saylor is said to have told analysts at Bernstein that the company’s plan is to be the leading Bitcoin bank. “Bitcoin is going to go to millions a coin, you know, and then we create a trillion-dollar company,” Saylor reportedly told Bernstein in an interview.
Even prior to the comments from Saylor, Microstrategy had been performing well. For the year-to-date, the stock has surged more than 200%.
