Tesla stock gyrates wildly around the Fed interest rate decision, $TSLA eventually closed down over 2% on Wednesday. The EV giant is likely to struggle further along with all equities by ivanbrian9 stocks trading
TSLA eventually closed down over 2% on Wednesday.swung around pretty wildly as the Fed decision was announced. The gyrations were partly to do with positioning and also lingering hopes for a Fed pivot. Equity markets sold off on the initial 75 bps rate hike. It was more the dot plot showing higher rates in 2023 that caught many by surprise.
The attention will now begin to focus on the next set of quarterly earnings, which are due on October 20. Tesla has reported strong sales growth in China, so investors will be looking for clarity on projections there. Delivery lead times have been slashed on the mainland as well, with the Shanghai Giga factory getting upgraded. The question remains how much of this falling delivery time is attributable to falling demand.
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